Most coaches don't carry E&O (errors and omissions) policies. Many policies are not written to cover coaching for two reasons.
- Coaching is a newer space, and there's not been a long enough history of challenges and need for the insurance.
- A lawsuit requires damages or harm to have been committed.
We've never once had a coach sued for staying in their lane. It's hard for someone to stand in front of a judge and say "Your Honor, this person helped me get on a plan, work with my spouse, save money, get out of debt, and plan for my future. I'm hurt and angered by this, and I want them to give me money!"
So, what we have found is that if you stay in your lane as a coach, the chances of having a problem like this is very low. We don't carry that insurance on our team here. If you're going to operate your own office space, you may want something general in case someone trips and falls, but if you aren't responsible for the space, you should be good to go.