Are there companies that provide professional liability insurance specifically for life coaches?
Sure. Depending on your occupation professional liability can be added as a rider to a businessowners policy. Often times professional liability will be a separate policy. I recommend that you contact a good independent insurance agency that represents several insurance companies so they can find you the best policy for your needs at the best price.
This insurance is a form of liability insurance that helps protect professional advice-and service-providing individuals and companies from bearing the full cost of defending against a negligence claim made by a client, and damages awarded in a civil lawsuit. You will have to get quotes from different companies and compare the cost and coverage that is best for you.
It just depends on the type of business you are engaged in You should have professional liability insurance if you give professional advice or services. Professional Liability provides individuals and companies protection from bearing the full cost of defending against a negligence claim made by a client, and damages awarded in such a civil lawsuit.
It is not a requirement but having a good professional liability insurance policy in place will give you more credibility in your industry. If you are an accountant in the employ of another then you should not have a need for a professional liability policy. If you work as a self employed or a contractor you should carry coverage. Many companies will require you show them your insurance before they will grant you contract work.
There are a great many different types of business insurance. Most companies will have a general liability insurance which covers the legal and other costs of everyday risks. Beyond this there might be property insurance for any buildings and equipment and liability insurance for products that are sold by the company. Some companies have professional liability insurance to cover any errors or malpractice that might occur.