Sometimes people know they want or need a life change, but aren’t sure how to make it happen. And, given that the standard U.S. workweek on paper is 40 hours (but 47 hours in reality), changing careers is a natural place to start. That’s where you come in.
As a career consultant, you help clients make conceptual and logistical shifts when it comes to their jobs. Sometimes, they just need outside perspective to help them make objective decisions and chase after their dreams.
As rewarding as it is, career consulting isn’t without its risks. That’s why business insurance for consultants is an important tool to protect your career so you can continue to help others.
Learn more about three reasons why career consultants need commercial insurance.
Most commercial spaces require liability coverage
Do you plan on renting out an office? How about visiting clients in their homes, offices or at a third-party location? Either way, general liability insurance is the foundational protection against damages stemming from injury or destruction of property. Most landlords and building managers require you show proof of insurance before signing a lease.
If, say, your client tripped over the stairs leading up to your office and took a tumble, then your insurance would cover their medical bills and personal injury costs. It could even prevent a costly lawsuit. Likewise, if you’re visiting a client and you accidentally break something expensive in their office, this liability coverage would kick in.
A client sues you after acting on your career advice
Sure, there’s a caveat in your contract that says you can’t guarantee any results. But what if a miffed client shows up at your office yelling about how your advice led them to quit their job—without a safety net—and now their home is going into foreclosure? Whether their accusation has merit or not, you could be looking at a drawn-out court case with hefty legal fees. That’s why it’s advisable for businesses who provide “professional services or advice” to clients (that could result in a loss for them) to take out a fitting amount of professional liability insurance.
Your client database full of personal information is hacked
In an effort to cut down on paper and declutter your office space, you’ve switched over to electronic correspondence and cloud storage. For the most part, it makes your life easier. But even SMBs are facing serious data breaches at the hands of hackers these days. Besides engaging in online security best practices, it’s helpful to have cyber insurance to help minimize the ill effects of a hack on your clients’ personal and financial data and save your finances from total ruin. After all, the average cost per lost record grew to $158 last year. You do the math.
The best advice we can give you about your career is to get business insurance for consultants. That way, you can assist your clients with confidence. Interested in learning more? Check out your policy options using CoverHound’s easy comparison tool.