There are so many different jobs in this world and so many people who need services. Independent contracting jobs can run the gamut from writers, to computer repair, to electrician, to carpenter, handyman, etc. What about consultants, or coaching and training? Are you a consultant, a coach, a training professional? Do you have the proper insurance coverage?
Insurance for Consultants and Coaches
If you enjoy the flexibility that comes with being an independent contractor in the consulting or coaching field, you also know that with your services comes responsibility. Performing your services is only one aspect of your business. Another is managing client expectations. What if your client was expecting one thing and you delivered another? What if your client thinks your advice brought them harm? You need to be insured against these possibilities.
Professional Liability: If you provide instruction or advice to others, then you need professional liability, or errors & omissions insurance. This type of insurance will cover you as an independent contractor against complaints regarding:
- Bad advice
- Failure to perform
Such policies will generally cover defense costs and pay for damages.
General Liability Insurance: The most basic form of business insurance that all independent contractors or businesses should possess, general liability helps protect against allegations regarding the following:
- Bodily injury
- Property damage
- Advertising injury
Business Owner’s Policy: Covers your business assets such as your computers or other equipment, interruption of your business, and more, against the unknown.
Contact Your Agent
If you are unsure as to what types of insurance you need as a consultant, coach, or trainer, visit your local insurance agency. Your agent can sit down and discuss the proper insurance for you.