215. How Much Should Business Insurance Cost for Coaching Businesses?

One of the core startup costs for an online business is business insurance. In today’s episode, I teach you about business insurance and the general cost you can expect.Business insurance is critical for financially protecting your business. Even if you just receive a nasty lawyer letter threatening to sue you for liability, your business insurance will step in with their own lawyer to act on your behalf.I go over the key terms you need to know: Premiums, deductible, liability limits, exposure, policy limits, and exclusions. Then I explain how they all interact to create how much you pay and how much you are protected.If you’re an online coaching business, you can expect liability insurance to cost somewhere between $400-$1,000. Trust me, it’s worth it.In this episode, you’ll hear…Why business insurance is importantKey business insurance terms explainedHow much you can expect to pay for liability insurance as an online coachClick here to find the full show notes and transcript for this episode.RESOURCES:Grab The Ultimate Bundle® on SaleMy affiliate link for Alternative BalanceJoin the waitlist for my book “When I Start My Business I’ll Be Happy: A Practical, No BS Guide to to Successful Online Entrepreneurship”Sign up for my free weekly email “Sam’s Sidebar”Get notifiied when each episode of On Your Terms® comes outCONNECT:Get Sam's weekly newsletter, Sam's SidebarFollow Sam on InstagramFollow Sam on YouTubeSubscribe to Sam's Substack, Beyond BusinessTake Sam's free legal workshop "5 Steps to Legally Protect & Grow Your Online Business"DISCLAIMER