Massage therapist insurance is a small business insurance policy that is there to safeguard against the specific risks associated with your profession. It usually covers various aspects, such as property damage, client injuries, and legal disputes.
Suppose a client decides to sue you, claiming that your massage treatments led to chronic pain or an injury. In such a situation, the professional liability coverage within your business insurance can help cover any settlements and legal costs you might incur.
What Does Massage Therapist Insurance Cover?
Massage therapists need to obtain suitable insurance to safeguard their practices against various potential incidents. These incidents can range from accidents and injuries to stolen equipment and damage to massage tables or chairs.
A business owner’s policy (BOP) is often considered the cornerstone of insurance for massage therapists. This policy bundles together three vital types of coverage and typically proves more cost-effective than acquiring each separately.
Here’s what a BOP typically covers:
- Business Liability Insurance: Also known as general liability insurance, this coverage assists in compensating for accidental property damage and injuries sustained by others. For instance, if a client suffers a fall while getting off your massage table, business liability insurance can help pay for their medical expenses and any legal fees if you face a related lawsuit. Additionally, it covers legal costs associated with reputational harm, copyright infringement, and libel or slander claims.
- Commercial Property Insurance: This type of insurance protects the physical location of your massage therapist business and your equipment and supplies. For example, if your supplies are stolen during a break-in, commercial property insurance can help finance the cost of replacing or repairing your assets.
- Business Interruption Insurance: This insurance can help make up for lost income if your business must close due to unforeseen events covered by your policy. Suppose a fire forces you to shut down for several months. In such a scenario, business interruption insurance can provide you with a source of income until your business reopens.
What’s Not Covered by Massage Therapist Insurance?
As a massage therapist, it’s crucial to know that certain risks may not be included in your insurance coverage. Here are some common exclusions:
- Damage due to earthquakes and floods to your business property (Consider purchasing separate earthquake insurance and flood insurance policies to address these hazards.)
- Radioactive fallout.
- Intentional and fraudulent acts
- Infectious diseases.
- Wrongful termination (You can opt for employee practice liability insurance to cover this aspect.)
Understanding these exclusions is vital when choosing the right insurance coverage to supplement your massage therapist insurance policy, ensuring comprehensive protection for your practice.
How Much Does Massage Therapist Insurance Cost?
Understanding the expenses associated with massage therapist insurance is an essential aspect of managing your business finances. On average, general liability insurance can cost around $35 per month, while a business owner’s policy typically falls below $70 monthly, as reported by Insureon.
Various factors can influence the overall cost of your massage therapist business insurance, including:
- Business revenue.
- Coverage limits and deductible amount.
- Business location.
- Number of employees.
- Type of insurance coverage.
- Types of massage services provided, such as shiatsu or Swedish massage.
- Value of massage tables and other business assets.
With this information in mind, you can make informed decisions about the appropriate insurance coverage for your massage therapist business.
Who Needs Massage Therapist Insurance?
Here’s a list of individuals who can greatly benefit from massage therapist insurance coverage:
- Massage therapists.
- Specialists offering hot stone massage, sports massage, or chair massage services.
- Reiki practitioners and healers.
- Physical therapists.
- Physical therapist assistants.
If you belong to any of these professions, obtaining massage therapist insurance can protect your business from potential risks and liabilities.
How to Get Massage Therapist Insurance
To secure a suitable massage therapist policy that meets your specific needs, follow these steps:
- Gather necessary documents: streamline the application process by collecting all essential information and documents beforehand. These include your contact information, business details, property ownership or rental status, a description of your business activities, the number of employees, proof of business duration, and estimated annual revenue.
- Choose Coverage Types: Opting for a business owner’s policy (BOP) is a solid starting point. This policy bundles three crucial coverage types: general liability insurance, business interruption insurance, and commercial property insurance. Customizing your coverage can further cater to your unique massage therapist business needs. For instance, if you frequently drive to professional events or client appointments, consider adding commercial auto insurance to your BOP.
- Shop around to obtain quotes: Insurance costs and coverage details vary between providers. Shop around by requesting quotes from multiple insurance companies to ensure you receive the most favorable policy and pricing. Depending on the insurer, you can request insurance quotes online or consult with an independent insurance agent.
By following these guidelines, you can secure an insurance policy tailored to your massage therapy business, offering peace of mind and financial protection.
