In 2018, CBC reported on a study that claimed money actually could buy happiness and that a salary between $76,000 and $95,000 was the sweet spot.
As a career coach business service, you get to enjoy the satisfaction that comes with helping people find happiness through reading their professional goals. Whether your client is a manager seeking a raise, an individual who’s been out of the workforce for a while, or a recent grad trying to land the job of their dreams, you’re the person who has all the resume advice and the helpful tips needed to make it happen.
Any time you make a living by giving advice, however, there’s always an element of risk involved. Having top-notch career coach business insurance can make it easier for you to protect your livelihood while continuing to do what you love. It’s always important to consider the type of insurance that makes sense for you.
The 3 Types of Insurance That Career Coaches May Wish To Consider
1. Commercial Property Insurance
When you’re a career coach, your whole professional life quickly gets tied up in one or two pieces of equipment. From resume samples and cover letter critiques to the cameras you may use when you prep your clients for interviews, there are probably at least a few bits of business property that you would struggle to do your job without.
Commercial property insurance makes it possible for you to receive compensation if an insured peril damages the equipment and/or office you use for your business.
2. Professional Liability Insurance
Although there’s no question that you know your stuff and that you want your clients to make professional progress, mistakes can happen to the best career coaches. And if an oversight leads to a customer not getting the preparation they need ahead of an interview or if the advice you give doesn’t get them the job, there’s always a chance that a disgruntled customer could sue.
Professional liability insurance can cover situations where mistakes of this nature end up causing economic loss.
3. Commercial General Liability
Whether coaching people in person, remotely out of your home or out of professional office space commercial general liability insurance is recommended. Commercial General Liability insurance covers the bodily injury and/or property damage that could be caused to third parties while operating your business. So whether you knock over an expensive vase in a customers home, a client slips and falls while meeting at your office or home and/or a toilet backs up and causes damage to the unit you are renting commercial general liability insurance is recommended for nearly all coaches.
4. Cyber Liability Insurance Policy
Do you have a website that clients use to sign up for your services? Are you backing up your client information in the cloud?
If any of this sounds familiar, you may want to consider getting cyber liability insurance. While this insurance option does include coverage for hacks and data breaches, it can also cover you against copyright and defamation accusations as well as cyber extortion schemes.
Because so many career coaches rely on the internet in one form or another to keep their businesses functioning, cyber liability insurance can be a really useful option.
Protect Your Livelihood With Career Coach Business Insurance
Here at ALIGNED, our brokers are committed to helping career coaches like you get excellent insurance packages at the best rates possible.
Get a FREE career coach business insurance quote today.
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