Business Insurance for Psychiatrists

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Save money by comparing psychiatry business insurance quotes

Psychiatrists face risks including patient injuries, property damage, and data breaches that expose client information. Psychiatrist insurance coverage pays expenses related to these risks and more.

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

Workers’ compensation insurance is required in almost every state for psychiatry businesses that have employees. It can cover medical costs for work-related injuries.

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.

How much does business insurance cost for healthcare professionals?

Healthcare professional with a thought bubble with a dollar sign above her head.

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

  • Healthcare services offered
  • Medical equipment and property
  • Revenue
  • Location
  • Number of employees
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Why do psychiatrists need insurance?

A client injury, property damage, or data breach of sensitive patient information can quickly turn into a draining lawsuit for a psychiatrist. Psychiatrist insurance can protect your small practice from having to spend thousands of dollars on a suit that could result in massive debt or bankruptcy.

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