Advice about insurance varies by country and according the products and services on offer, so please speak to a local insurance broker about your own situation.

Getting the right insurance is essential for you when you start and develop your coaching practice. If you are planning to do business within the public sector, you will almost certainly be asked to provide evidence of your insurance.

You are legally required to have some types of cover - such as motor insurance or employers' liability compulsory insurance if you have staff (including associates who work under your company name).

It is also sensible to insure your premises, fixtures, fittings, equipment and stock against disasters such as fire, flood and theft which could prove highly damaging to your operations. If you work from home, much of this may be covered by your existing insurance policy, but it is worth checking that you have buildings and contents insurance.

As a coach the insurance you will most likely need is professional indemnity cover. This covers you in the event that you are sued by a client for negligence.

Could your business survive if you were taken ill or you suffered an IT failure? The chances are they your coaching practice would grind to a halt. Make sure that you have a contingency plan and you back-up your computer, also consider having cover for business interruption or business continuity and health insurance.

Many policies automatically include cover for legal expenses. Not all policies include this, so do check with your broker.

If you are going to be providing products such as ebooks and audio CDs to your clients (regardless of whether you charge for them) talk to your broker about whether you need product insurance.

When you are shopping around for insurance make sure you tell your broker about all the products and services you offer to your clients. For example, you can get very cheap cover for non-directive life coaching, but that same policy would not cover you for running workshops and events.

N.B. If you coach internationally by phone or Skype check that you are covered by your insurance policy as they may not extend cover outside the country you reside in.