Missed deadlines · the licensing boundary · client money
Professional indemnity insurance (BAV) for a budget coach
A budget coach works with people who have no buffer. An incorrect calculation or a missed deadline therefore has immediate financial consequences that can no longer be put right.
- Several insurers compared objectively
- 9.5 customer rating for a new policy
- AFM licence 12016589
- Personal 072 - 509 24 56, weekdays 9–17
Deze pagina in het Nederlands: Beroepsaansprakelijkheidsverzekering voor een budgetcoach.
The calculator and the quote form below are in Dutch. Prefer to do this in English? Email info@finassverzekert. nl or call 072 - 509 24 56 and we will take it from there.
Work out for yourself what it would cost.
Enter your details; you will receive a proposal within one working day.
- We compare the offerings of several insurers
- An adviser checks whether the cover suits your activities
- We arrange the switch, including cancellation
A premium indication, not personal advice. Prefer to talk it through? Call 072 - 509 24 56.
In brief
The loss in budget coaching is almost always pure financial loss: money that disappears or does not come in, without anything being broken or anyone being injured. Think of an incorrectly calculated protected minimum income (beslagvrije voet) leaving a client with too little for months, an application for remission or special assistance that goes out too late, an allowance that was not adjusted on the basis of your assessment and is later reclaimed, or a payment arrangement you conclude that blocks access to a voluntary debt settlement scheme.
What matters is what you are allowed to do. Coaching on income, spending and debts is unrestricted, but advising on financial products is not: that requires a licence under Article 2:75 of the Wft (the Dutch Financial Supervision Act). If you tell a client that he can cancel his term life insurance or should remortgage, you are moving into that territory. Insurers exclude from cover any work for which a legally required licence or registration is missing. For product advice you refer the client to a financial adviser.
A second boundary is the one with protective administration. As soon as you make payments yourself, have access to accounts or manage property, your position changes and other requirements apply. You can read about that on the page about the administrator (bewindvoerder). If you stick to coaching and guidance, keep your role clearly described in the agreement with the client.
This page deals with one situation. The full overview is on Compare professional indemnity insurance (BAV).
What to look out for
Four points that make the difference in budget coaching between cover and no cover.
The debt itself is not a loss
A client with a tax debt from before your guidance has that debt with or without you. What is insured is only the extra detriment that arose through your mistake: the collection costs incurred, the remission missed, the arrangement reversed. Calculate that difference explicitly when a claim arises, because a claim that amounts to the existing debt fails on the concept of loss.
Deadlines are hard
Objection periods, application deadlines and response periods set by creditors are fatal. A missed deadline is one of the most common professional errors in this field, and at the same time the easiest to prove. Work with a diary in which deadlines are recorded and confirm to the client in writing who files which application. An unclear division of roles always comes back in a complaint.
Client data and client money
You work with bank statements, citizen service numbers and information about debts. If that leaks, the loss suffered by those affected is not covered on this policy. For that you look to a cyber insurance. If you manage clients' money, misappropriation or loss of it also falls outside the cover and you need separate money or fraud cover.
What falls outside the policy
Excluded are, among others: advice on financial products without a licence; intent and wilful recklessness (Article 7:952 of the Dutch Civil Code); fines, additional assessments and penalty payments imposed on the client himself; and redoing your own work, including repaying your coaching fee.
What does your premium depend on?
- Annual turnover: the usual basis for coaching and guidance
- Type of client: private clients, local authorities or employers weigh differently
- Extent of your role: coaching alone weighs less than filing applications on the client's behalf
- Certification or membership: an industry quality mark is a condition of acceptance with some insurers
- Sum insured: with many small files it is mainly the annual maximum that counts
- Retroactive period: determines whether cases from before the start date are included
Insurers weigh these details differently. That is where your saving is.
What is covered
| Situation | AVB | BAV |
|---|---|---|
| An objection deadline at the local authority expires while you were to file the application | No | Yes |
| A calculation error in the monthly budget leaves your client with rent arrears and collection costs | No | Yes |
| You recommend cancelling a current disability insurance policy and the client is later left without cover | No | No |
| The tax debt your client already had before he came to you | No | No |
| During a home visit you knock over a mug onto your client's laptop | Yes | No |
| A client demands the coaching fee back because he was not admitted to the debt restructuring scheme | No | No |
What is insured is the extra detriment that arose through your mistake, not the amount the client already owed in any event.
Frequently asked questions
This is what people ask us most.
I calculated the attachment-free threshold incorrectly. Is that an insured mistake?
If in doing so you did not act as a reasonably competent professional, it is a professional error and the loss falls under the cover in principle. The loss is the amount the client was left short as a result, plus any costs of putting the situation right. Report it as soon as the client raises it with you; Article 7:941 of the Dutch Civil Code requires prompt notification.
May I advise on cancelling an insurance policy?
Be careful. Working out what a policy costs each month is part of budget coaching. Advising which product the client should keep or replace is advice on a financial product and that requires a licence. If you do so without a licence, there is a strong chance the insurer will refuse cover because the work was not permitted.
Do I need an AVB as well as a BAV?
As soon as you visit clients at home or work on location, yes. A mug knocked over onto a laptop or injury to a visitor is property damage or injury, and professional indemnity insurance excludes that. public and employers' liability insuranceis the policy for it. Many insurers offer both in one package.
A client blames me for not being admitted to the debt restructuring scheme.
Such an allegation turns on causation: was the refusal the result of your mistake or of circumstances on the client's side, such as new debts or incorrect information? Gather the file, the correspondence and the application, and report the claim to your insurer. Do not admit liability and make no promises before the insurer has assessed the matter.
Read more
Within Beroepsaansprakelijkheidsverzekering
- Beroepsaansprakelijkheidsverzekeringthe main page
- Beroepsaansprakelijkheidsverzekering studieadviesbureau
- Beroepsaansprakelijkheidsverzekering juridisch adviesbureau
- Beroepsaansprakelijkheidsverzekering jurist zzp
- Beroepsaansprakelijkheidsverzekering advocaat zzp
- Beroepsaansprakelijkheidsverzekering ergotherapeut zzp
- Beroepsaansprakelijkheidsverzekering budgetcoaching praktijk
Similar pages
- Professional indemnity insurance (BAV) for a study advice agency
- Professional indemnity insurance (BAV) for a self-employed lawyer
- Professional indemnity insurance (BAV) for an occupational therapist
- Professional indemnity insurance (BAV) for a legal consultancy
- Professional indemnity insurance (BAV) for a dietitian
- Professional indemnity insurance (BAV) for a social worker
- Professional indemnity insurance (BAV) for an educational consultancy
- Professional indemnity insurance (BAV) for a budget coaching practice