Business Insurance for Psychiatrists

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Psychiatrist
Psychiatrist giving advice to a patient in their clinic.
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Save money by comparing psychiatry business insurance quotes

A patient injury or a data breach that exposes client information could financially devastate your clinic. Psychiatrist insurance coverage can help you recover quickly from lawsuits, cyberattacks, and accidents.

Psychiatrist speaking with a client.
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Choose the best rate and coverage

Insureon helps psychiatrists compare insurance quotes from top U.S. carriers online. Get several quotes with one application.

What types of business insurance do psychiatrists need?

These policies provide coverage for the most common risks of psychiatry.

Business owner’s policy icon

Business owner’s policy

A BOP bundles commercial property and general liability insurance under one plan. It's one of the most cost-effective types of commercial insurance for psychiatrists.

BEST FOR
  • Slip-and-fall accidents
  • Damaged patient property
  • Damaged business property
General liability insurance icon

General liability insurance

This policy covers basic psychiatrist risks, such as patient injury and patient property damage. Bundle with property insurance for savings in a business owner’s policy.

BEST FOR
  • Slip-and-fall accidents
  • Damaged patient property
  • Libel or slander lawsuits
Workers’ compensation insurance icon

Workers’ compensation insurance

Most states require workers' comp for psychiatry businesses that have employees. It also protects sole proprietors from work injury costs that health insurance might deny.

BEST FOR
  • Employee medical expenses
  • Partial missed wages
  • Lawsuits over employee injuries
Cyber liability insurance icon

Cyber liability insurance

This policy helps psychiatrists survive data breaches and cyberattacks. It can often be added to a business owner's policy or general liability policy for savings.

BEST FOR
  • Customer notification expenses
  • Data breach lawsuits
  • Fraud monitoring costs
Looking for different coverage? See more policies.

Why do psychiatrists need insurance?

A client injury, theft, or data breach that exposes sensitive information could happen at any clinic. Psychiatrist insurance protects your small practice from the financial impact of accidents and lawsuits. Some policies, such as workers' comp for your employees, may be required by state law.

How much does business insurance cost for healthcare professionals?

Healthcare professional below a thought bubble with a dollar sign.

Several factors will have an impact on insurance costs, including:

  • Healthcare services offered
  • Medical equipment and property
  • Revenue
  • Location
  • Number of employees
View Costs
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