Business owner’s policy for therapists and counselors

Therapists and counselors can protect their practice, office space, and business equipment with a business owner’s policy. A BOP bundles general liability insurance and commercial property insurance at a lower rate than purchasing both policies separately.

General liability covers accidental third-party bodily injuries at your office (including slip and fall accidents) and client property damage for which you might be found liable. Business property insurance protects your practice’s furniture, computers, and other equipment from covered damage or loss.

A BOP can help protect your therapy or counseling practice against:

• Damage to business property
• Client injuries and property damage
• Advertising injuries and defamation claims of libel or slander
• Lost income if a covered event forces your practice to temporarily close

Therapists and counselors may benefit from a BOP if they:

• Have a dedicated office space
• See clients in person
• Own equipment that's used to run their practice

Landlords may require proof of insurance before you sign a lease, and having coverage can help you recover financially if a covered event disrupts your business. A BOP can be especially useful for practices with dedicated offices, multiple treatment rooms, or employees, though your specific needs will depend on how and where you work.

If you rent your therapy office, business renter’s insurance can help protect your business property and address liability risks associated with your leased space.

Therapists and counselors can customize a BOP to meet their practice’s needs while keeping insurance costs manageable. For example, you can bundle business interruption insurance with your business owner's policy to help replace lost income if a covered event forces your therapy clinic to temporarily close. Other endorsements may also be available depending on your practice’s operations and coverage needs.

Businesses eligible for a BOP usually:

• Employ fewer than 100 staff members
• Have a small workplace or office
• Generate less than $1 million in annual revenue
• Operate in a low-risk industry
• Need less than 12 months of business interruption insurance

Eligibility requirements can vary by insurance carrier, so not every therapy or counseling practice will qualify for a BOP. You can speak with Insureon's licensed agents to learn more about business owner’s policy requirements to determine whether your practice may be eligible.

A BOP can be a cost-effective way for therapists and counselors to manage multiple business risks under one policy, including:

The commercial property portion of a business owner’s policy pays for the repair or replacement of damaged, destroyed, or stolen items, such as:

• Business property, like laptops and computers
• Specialized equipment, such as an active passive trainer
• Office furnishings and fixtures
• Your building (if you own it)

If your occupational therapy clinic, health education office, or other therapy and counseling business sustains damage after a fire—even one that began in another building—a BOP can pay for the cost of renovation.

The general liability portion of a BOP can cover legal fees, medical expenses, and other financial bills related to third-party injuries or property damage. For example, it can provide coverage when:

• A client trips and sustains a head injury at your office
• Your office assistant damages a client’s smartphone
• A delivery person slips on ice on your front step and breaks a leg

Therapists who lease office space may also need to consider damage to premises rented to you coverage.

The general liability portion of a BOP also provides coverage against advertising and personal injuries, such as:

• Defamation, including libel (written) and slander (spoken)
• Copyright infringement

For instance, if a wellness counselor writes a negative review about a local competitor and their business is sued for libel, a BOP can cover the resulting legal costs.

If your therapy or counseling practice is forced to close after water damage from a burst pipe or other disruptive event, your BOP can compensate for lost income and operating costs.

For example, a clinic may have to close its doors for a few weeks after a tornado. Business income insurance, included in most business owner's policies, can compensate for operating expenses (including staff wages, rent, and utilities) while your practice is being renovated.

A business owner’s policy offers broad protection for therapy and counseling professionals, but it doesn’t provide coverage for all risks. Business owners should also consider:

Professional liability insurance: Also called malpractice insurance and errors and omissions insurance, professional liability coverage can help cover legal expenses when a therapist or counselor is accused of a work error, service that doesn't meet expectations, or not meeting the standard of care related to their professional service.

Workers’ compensation insurance: Workers’ comp can cover medical costs for work-related injuries. State laws usually require this coverage for small businesses with employees. It also protects sole proprietors from work injury costs health insurance might deny.

Cyber liability insurance: This policy covers financial losses from data breaches, ransomware, and social engineering schemes. It's recommended for any small business that stores personal information.

Commercial auto insurance: This policy covers the cost of accidents involving a vehicle owned by your therapy practice. Most states require this coverage for business-owned vehicles. It's also important to carry because personal auto coverage typically won't pay for work-related accidents or claims.

Commercial package policy (CPP): Therapy clinics with more complex operations or higher coverage needs may also want to explore a CPP instead of a BOP. This option allows larger businesses to combine liability and property coverages with more flexibility in coverage types and limits.

Protect your therapy and counseling clinic from third-party claims and business property damage costs with the right business owner's policy. Insureon makes it easy to compare quotes from top-rated insurance companies, customize your coverage, and purchase a policy online in just a few minutes.

Complete Insureon’s easy online application today to review options tailored to your unique business needs. Once you find the right policy, you can begin coverage and receive a certificate of insurance (COI), often within 24 hours.