Are you a health coach who’s looking to learn more about the ins and outs of health coach insurance?
If so, you’re in the right place.
In this guide, you’ll learn:
- Do you need insurance?
- Health coach insurances
- Health coach insurance providers
- How much health coach insurance costs
Ready to get started? Let’s go!
Why do health coaches need insurance?
If you’ve been thinking about getting health coach insurance, you know there’s a lot to think about. In fact, you’ve probably asked yourself if you even really need it.
At the end of the day, whether or not you need health coaching insurance is up to you.
First things first: In most cases, you don’t have to invest in health coaching insurance. But it can provide you peace of mind as you run and grow your business in the health and wellness industry.
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A few ways life coaching insurance can protect you are with things like:
- Liability or malpractice
- Accidents in or damages to your physical office
- Illness or injury
- Data breaches
- Breach of contract
- Tort
There are several types of insurance policies that might be helpful for health and wellness coaches. We’ll talk about them in the next section (including the most common type), so keep reading!
6 types of insurance health coaches may need
Getting an insurance policy as a health coach doesn’t have to be complicated. In most cases, it’s not.
In fact, there are several insurance companies that offer package options made specifically for people with a health coaching business.
And in the event that you can’t find a policy or package that checks each of your boxes, you can always put together your own plan.
Let’s discuss the different types of insurance you might need as a health coach.
Health coach professional liability insurance
Professional liability insurance is one of the most common types of insurance policies among health coaches for their professional services.
This type of policy is designed to protect you in the event that a client sues you because of any information or advice you gave them during your time together. Like most insurance policies, the insurance company will pay the costs rather than you if something is covered.
It’s important to note that you’ll only be covered if the event in question falls within the boundaries of your health coaching practice. In other words, if you’ve broken the law, you’ll be the one who is financially responsible.
General liability insurance
Also known as business liability insurance, general liability is typically only necessary for in-person health coaches (not online). That’s because it protects the coach from claims of things like bodily harm, property damage, and personal injury.
Most general liability insurance will also cover lawsuit costs, damage repairs, replacement costs, and medical costs.
For instance, let’s say a client of yours fell while walking into your lobby and had to see a doctor for a sprained wrist. This would be covered by your policy if you made a general liability claim, meaning you wouldn’t have to pay out of pocket.
Commercial property insurance
Commercial property insurance is a policy for health coaches with a coaching space – which is almost everything related to your health coaching business. You’ll be covered whether the event takes place inside or outside your building, workspace, or office.
That means that if your coaching space falls victim to theft, vandalism, natural disasters like storms or fires, or even burst pipes, you can rest assured knowing it’s all covered. Your policy will cover your furniture, business equipment, inventory, and even tools such as your phone and computer.
Cyber liability insurance
If any information related to your business or clients is stored on your computer (or in something like the Cloud), it’s at risk of being hacked.
The reality is that hacks impact millions of people each year.
If you were to fall victim to a breach, all of your clients’ financial details, personal information, and even session information would be susceptible to threats like identity theft, leaks, and more.
Cyber liability policies protect you from the costs associated with these incidents. They cover the big things, like forensic investigation, litigation coverage, crisis management, and business interruption.
Commercial auto insurance
If you’ve bought or leased a car specifically for your health coaching business, you’ll need to find a commercial auto insurance policy. After all, your personal auto insurance policy won’t cover a vehicle you use for business purposes.
Commercial auto insurance will cover almost any incident involving your business vehicle. This includes liability damages, collisions, physical damage, loss, and injuries made to anyone in the car.
Note that it won’t cover personal vehicles, rental cars, or anything that might happen to your clients’ cars during a session.
So, where and how do you go about getting health coach insurance? We’ll cover that in the next section, so keep reading!
Top health coach insurance providers
When it comes to signing up for a health coach insurance policy, you have a few different ways to do it.
You can check in with your training or certifying institution to see if they provide insurance, see if it’s possible to get coverage under your existing provider, or choose to work with an insurance company specializing in health coaching insurance.
Let’s focus on companies that offer health coaching-specific insurance plans.
HPSO
The Healthcare Providers Service Organization (HPSO) is a great resource for anyone looking for a health coach liability insurance policy.
Their policy will protect you from defense costs, any HIPAA fines and penalties you might be faced with, representation in court, medical payments, personal injury, first aid, and more.
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CM&F
CM&F has several policy options that are built specifically for health coaches.
Plans cover claim settlements, license defense, general liability, defense costs and liability limits, HIPAA defense, and more.
Alternative Balance
Alternative Balance offers coverage for nearly 1,000 health coach niches and specializes in health coach liability insurance.
Plans range from $239 to $319 per year, and coverage includes damage to rented properties, medical expenses, general and professional liability, accident insurance, and more.
CPH & Associates Insurance
CPH specializes in liability and malpractice insurance for health coaches. Their plans are even portable, meaning they follow your certification.
Coverage from CPH includes unlimited defense and protects you from loss of earnings, HIPAA proceedings, premises liability, and personal injury liability.
GEICO
GEICO’s coverage is available for anyone who works in wellness or fitness, and that includes health coaches.
Pans start at $169 per year and include defense counsel, HIPAA violation defense, reputation coverage, general liability coverage, and more.
What’s the cost of a health coaching insurance policy? Keep reading to learn how much you can expect your policy to cost.
How much does health coach insurance cost?
On average, coaches pay about $400 per year for a $1 million general liability insurance policy.
But remember, this depends on several factors, including your insurance history, time working as a coach, location, revenue, and more.
When picking your plan, pay attention to things like coverage limits, deductibles, premiums, add-ons, and exclusions.Ultimately, talking to an insurance broker can be the fastest way to find the best insurance for your business.
Next steps
Well, there you have it!
Everything you need to know about finding and choosing the right health coaching insurance plan for you and your business, plus some of the best places to find it. Ultimately, it all comes down to building your coaching business.
After all, a successful coaching business can afford you more freedom and flexibility in your life.
How do you build one, though?
I’ll show you exactly how to do it, step-by-step, with my free blueprint.
Get it here:
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When you sign up, you’ll also receive regular updates on building a successful online business.
Read more:
The Best Health Coaching Certifications
How to Start a Successful Coaching Business
(Disclaimer: This article is not meant as legal advice. Consult a legal expert for tailored legal information that applies to your specific situation.)
