Career Coach Insurance Cost
You help clients find their perfect jobs and climb the ladder to success – but who helps you understand your essential business expenses, like insurance? At Insurance Canopy, we’re here to break down career coach insurance costs and how to get the affordable coverage you deserve.
How Much Career Coach Insurance Costs
Career coach insurance costs as little as $21.08/month or $229/year with Insurance Canopy. This is your base policy cost, which includes just the coverages every career coach needs – no more, no less. From there, factors like extra coverages you add, the payment plan you choose, and your business size customize a price and policy to cover your risks.
Most of our customers pay between $26 and $30 per month for their insurance. Not sure how those prices stack up against other insurance options? See our cost comparison chart for a detailed breakdown.
Your base policy includes these coverages to protect you from career coaches’ most common claims and risks:
- General Liability
- Professional Liability (aka Errors and Omissions)
- Products-Completed Operations
- Damage to Premises Rented to You
- Personal and Advertising Injury
- Free and Unlimited Additional Insureds
Our goal is that you only pay for what you use, so we also offer two optional coverages: cyber liability and equipment and materials insurance.
Many of our policyholders collect payment info and want legal protection in case of a cyber attack, while others want coverage for their business computers and supplies. These optional coverages keep your business protected:
- Cyber Liability (Data Theft Coverage) for $8.25 a month — over 41% of career coaches add this protection to their policy!
- Equipment and Materials (Inland Marine Coverage) for $2.17 a month
Note: This data is based on customer payments for both monthly and annual payment plans.
What Payment Plans Are Available?
Insurance Canopy offers flexible monthly or annual payments to suit different goals and budgets.
- Monthly payments mean lower prices now. You help clients by breaking their career dreams into manageable steps. Paying in installments works the same way to keep insurance affordable. There is a recurring $2 fee for monthly payments.
- Annual payments mean savings over time. Paying upfront with an annual plan saves you about 10% over the year. That’s around $24 you can put toward a new headset for online sessions, coaching tools, or a LinkedIn Learning course.
How Much Does Each Type of Coverage Cost?
General & Professional Liability: $21.08/Month or $229/Year
This coverage can protect you from paying for bodily injury or property damage to third parties (like clients and landlords) due to your coaching business activities or advice.
General and professional liability coverage from Insurance Canopy comes with protection for your products and completed operations, fire damage to a rental property, and personal and advertising injuries.
Equipment and Materials: $2.17/Month
This optional coverage can pay for repairs or replacements if your business equipment is stolen or damaged. Say you work out of a home office. If you experience a break-in, homeowners insurance doesn’t cover business-related supplies like your work laptop, tablet, or phone. Equipment and Materials coverage can help you replace work supplies and get back up and running.
Cyber Liability: $8.25/Month
Nearly half of small businesses experienced a cyber attack in 2023, and the number keeps growing. If you collect client data like payment or contact info, cyber liability insurance can safeguard you against paying to recover stolen information or settle data breach lawsuits.
Additional Insureds: FREE
An additional insured is a person or company covered under your policy because they might be named in a lawsuit against you. Facility managers and landlords often request to be added to your policy as additional insureds. Your Insurance Canopy policy lets you add as many additional insureds as you need for no extra cost.
What Factors Affect the Cost of Career Coach Insurance?
Gross Annual Income
Coaches with higher pre-tax incomes need higher limits to protect their finances. This can raise your insurance costs.
Optional Coverages
Customizing your policy with equipment or data theft protection adds to your total price.
Claims History
If you have filed insurance claims before, your cost may be higher to reflect your level of risk.
Here’s a breakdown of how your gross annual income affects your insurance costs:
Cost of Liability Insurance for Career Coaches by Income
| Gross Annual Income | General Liability Premium | ||
|---|---|---|---|
|
Individual Career Coach |
|||
|
$0 – $50,000 |
$27.71
|
||
|
$50,001 – $100,000
|
$32.71
|
||
|
$100,001 – $150,000
|
$37.71
|
||
|
Coaching Small Business Owner |
|||
|
$0 – $50,000
|
$33.96
|
||
|
$50,001 – $100,000
|
$40.21
|
||
|
$100,001 – $150,000
|
$46.46
|
||
Can I Reduce the Cost of My Insurance?
Choosing an annual plan keeps your career coach insurance cost to a minimum. Ultimately, the best way to keep premiums down and liability payouts low is to manage your business risks.
Give these risk management strategies for career coaches a try:
- Protect stored data against cyberattacks with security software and training.
- Document client communication like emails, calls, and sessions.
- Create a contract or liability waiver for clients to sign, including clear expectations for services, payments, and appointment cancellations.
- Stick to your areas of expertise, and respect the difference between a career coach and a therapist (even when clients blur the line).
- Inspect your office or coaching space for potential trip-and-fall hazards.
Why Insurance Canopy for Life Coach Insurance?
Insurance Canopy offers some of the lowest costs for the best small business coverages in the business. Download our price comparison chart to see how our career coach insurance costs and coverages compare with other top options.
- Affordable Monthly Payment Options
- Instance Certificate of Insurance (COI)
- 24/7 Policy Management Online
- Covered Anywhere You Coach
- U.S. Based, Licensed Agents Ready to Help
Career Coach Insurance Coverage
Insurance coverage types and policy limits:
The most your policy will pay for bodily injury and property damage claims occurring in the policies term that you become legally obligated to pay due to your business services.
$2,000,000
The maximum amount your policy will pay in a 12-month period for bodily injury and property damage claims that result from the products you use to perform your services. However, it does not cover your products that are sold or distributed.
$1,000,000
The amount that your policy will pay for claims arising out of one or more of the following offenses:
– False Arrest, detention or imprisonment
– Malicious prosecution
– Wrongful Eviction or Wrongful Entry
– Oral or written publications that slander or libels a person or organization
– Oral or written publication or material that violates a person’s right of privacy
– The use of another’s advertising idea in your advertisement
Included
The maximum amount paid per incident during the term of the policy.
$1,000,000
Applies to damage by fire to premises rented to the insured and to damage regardless of cause to premises (including contents) occupied by the insured for 7 days or less.
$300,000
Included
Optional Add-Ons
How Do I Get a Quote?
Investing in your business’s future takes 10 minutes or less with our easy online application. To get your instant quote, just answer a few questions about your coaching activities, add any extra coverages, and download your instant proof of insurance. You’re covered and back to helping clients chart the course to success in no time.
Career Coach Insurance Cost FAQs
How Much Does Career Coach Insurance Cost?
Career coach insurance costs as little as $21.08/month or $229/year with Insurance Canopy, but you can find a range of prices online. Insurance companies often charge from a few hundred to a few thousand dollars per year to insure a career coach. Depending on their policies, factors like your services, location, and property may affect your insurance costs with other companies.
Do I Need Career Coach Insurance?
Career coach insurance is essential protection for your professional advice and business risks. Defending against a lawsuit can cost thousands of dollars. The knowledge that your insurance can cover your defense costs, plus the expensive court fees, settlements, and judgments that follow, offers the peace of mind you need to coach with confidence.
Can I Get Career Coach Insurance If I Work Part-Time or Have a Side Business?
Absolutely! Our career coach insurance is designed with small businesses like yours in mind. The majority of our policyholders (about 65%) make between $0 – $50,000 per year from a career coaching business as a side hustle. Even part-time career coaching can be full of costly consequences if you experience a lawsuit, so insurance is a must to protect your finances.
What Is Covered Under a Typical Career Coach Insurance Policy?
Career coach insurance covers you against harm caused by your business or advice. You meet clients with a lot of stress on their careers and finances, so blame may fall on you when goals go unmet. Consider these scenarios where insurance could keep you protected:
- A client trips and breaks their ankle while leaving an appointment. The medical expense limit in your policy could pay their hospital bill, saving you from a more costly and professionally damaging lawsuit.
- A client claims your career advice led to accepting a lower-paying job, and they sue you for their financial loss. Professional liability insurance could cover legal expenses like settlements or damages.
- After you abruptly end sessions, your client sues you for the emotional and financial damage of being unsupported during their job search. Even if you’re eventually cleared of responsibility, court fees and representation still get expensive. Professional liability can keep you from paying out of pocket.
- A data breach exposed your clients’ personal information and led to a case of identity theft. Adding our optional cyber liability insurance to your policy could help you pay for the lawsuit and costs of recovering their information.
What Are the Coverage Limits?
Career coach insurance from Insurance Canopy has a $1 million per occurrence limit and a $2 million yearly aggregate limit for general and professional liability claims. That’s one of the highest limits for the lowest price in the business. Start investing in your future security and success for just $21.08 a month.
JoAnne Hammer | Program Manager
JoAnne Hammer is the Program Manager for Insurance Canopy. She has held the prestigious Certified Insurance Counselor (CIC) designation since July 2004.
JoAnne understands that starting and operating a business takes a tremendous amount of time, dedication, and financial resources. She believes that insurance is the single best way to protect your investment, business, and personal assets.
JoAnne Hammer is the Program Manager for Insurance Canopy. She has held the prestigious Certified Insurance Counselor (CIC) designation since July 2004.
JoAnne understands that starting and operating a business takes a tremendous amount of time, dedication, and financial resources. She believes that insurance is the single best way to protect your investment, business, and personal assets.
