Insurance Is Important
It is very easy when working as a #life-coach or #business-coach to underestimate the level of insurance cover you need. There are many reasons for this under estimation which might include that you do not understand your legal liabilities or that you do not have an up-to-date valuation of your assets.
During our life coach training diploma we discuss the main types of insurance that life coaches and business #coaches should consider. We recommend that you take out a policy which includes professional indemnity and public liability even if you do not meet your clients face to face. Let me explain, public liability covers you in the event that you have claims made by members of the public for incidents which happen in relation to your business activities by covering the cost of compensation for: personal injuries, losses of or damage to property. You may feel that you are never going to have a client to your premises but there may be a time in the future when a wealthy or prestigious person wants to meet you before hiring your services and you decided to meet in a hotel. Anything can happen which may or may not be under your control.
Professional indemnity insurance (PI) covers your legal costs and any expenses incurred in your defence, including any costs or damages awarded, if you are alleged to have provided inadequate advice or services that caused your client to lose money. I realise that as life coaches we do not give advice but you cannot control the way the client interprets your questioning guidance. As business coaches there may be times where advice is asked for.
We recommend that you take out a policy which includes professional indemnity and public liability and if you go to our website http://www.achievementspecialists.co.uk/Life_Coaching/Insurance
where you can get a quote for a wide selection of activities and you will also get the Achievement Specialists discount even if you have not trained with us!