Insurance companies typically only cover medical treatments that are necessary for treating an illness or injury. Health insurance doesn’t cover most things worth investing in, like your education, your yoga class, or your vacation to spend quality time with your partner. Coaching is different from psychotherapy, and never intended to treat a psychiatric diagnosis. Unless they are therapists, coaches are not qualified to diagnose or treat mental health conditions.
Employee Assistance and Coach Protection
Some employers offer employee assistance programs (EAPs) that include life coaching as one of the available services. If you cannot afford to pay out of pocket, there are other options available. Insurance covers your small business if you’re sued for performing professional services, even if you haven’t done anything wrong.
Types of Insurance for Coaches
There are five kinds of insurance that a life coach should have:
- Professional liability insurance
- General liability insurance
- Commercial property insurance
- Workers’ compensation
- Disability insurance
Companies with 50 or more employees legally need to provide their employees with health insurance. But that insurance isn’t required to cover services such as therapy or life coaching.
Insurance Options for Coaching Services
Everyone’s insurance plan differs, so you’d have to look at how your plan works to know if you’re eligible. You may have trouble getting life coaching covered by insurance, but you can still compare quotes from the top insurance companies in your area.
Life Coaching Coverage
The insurance industry provides policies that cover a broad range of services to protect individuals and companies from financial loss. So, do life coaches have insurance coverage?
Life coaches can get insurance coverage through health insurance and liability insurance. Some health insurance policies cover life coaching services, particularly those provided by licensed healthcare professionals. However, coverage for life coaching may be limited. Professional liability insurance for life coaches is the best way to protect against the risks associated with personal coaching.