Therapy and Counseling Business Insurance
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How much does therapy and counseling business insurance cost?

Several factors contribute to the cost of therapy and counseling business insurance, including your risk of a lawsuit. Cost estimates are sourced from policies purchased by Insureon customers.

General liability insurance icon

General liability insurance costs for therapists and counselors

Therapists and counselors pay a median premium of less than $30 per month, or $350 annually, for general liability insurance. This policy provides financial protection for third-party bodily injuries and property damage, along with advertising injuries.

Insureon’s licensed agents recommend a business owner's policy (BOP) over a standalone general liability policy. A BOP combines general liability insurance with commercial property insurance to protect your counseling office and equipment, and costs less than purchasing each policy separately.

Business size affects general liability costs

Among therapists and counselors that purchase general liability with Insureon, 79% pay less than $400 per year and 14% pay between $400 and $600 per year.

Therapists and counselors who see more clients take on more risks, and may pay more for this insurance.

General liability insurance costs for therapists and counselors.

Common general liability limits for therapists and counselors

Policy limits determine how much your insurer will pay on covered claims. The per-occurrence limit is the maximum your insurer will pay for a single incident, while the aggregate limit is the maximum your insurer will pay on any claims during your policy period, typically one year.

Most therapists and counselors (82%) choose general liability policies with a $1 million per-occurrence limit and a $2 million aggregate limit. As your small business grows, you may need to expand your policy limits.

Learn how to save money on your policy, which coverage limits to choose, and more on Insureon's general liability insurance cost analysis page.

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Business owner’s policy costs for therapists and counselors

The median premium of a business owner’s policy for occupational therapists, psychologists, and other therapy and counseling professionals is about $40 per month, or $500 per year. This policy combines general liability insurance with commercial property insurance, typically at a discounted rate.

Business property value drives the cost of a BOP

Among therapy and counseling businesses that purchase a business owner’s policy with Insureon, 27% pay less than $500 per year and 62% pay between $500 and $1,000 per year. The cost is driven by the amount of property coverage included in a BOP.

Business owner's policy costs for therapists and counselors.

Learn how to save money on your policy, which coverage limits to choose, and more on Insureon's business owner's policy cost analysis page.

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Workers’ compensation insurance costs for therapists and counselors

To meet your state’s requirements, therapy and counseling businesses with employees typically must purchase workers’ comp insurance. Sole proprietors may also buy this policy to protect against medical costs from work injuries, which health insurance can exclude.

Workers' compensation helps cover medical bills and partial lost wages when an employee suffers a work-related injury or illness. The median premium is about $55 per month, or $635 annually, for therapy and counseling businesses.

The cost of workers’ comp depends on the number of employees

Among therapy and counseling businesses that purchase workers’ compensation insurance with Insureon, 45% pay less than $600 per year and 32% pay between $600 and $1,200 per year. The cost depends on the number of employees and their level of occupational risk.

Workers' compensation insurance costs for therapists and counselors.

Learn how workers' comp premiums are calculated and more on Insureon's workers' compensation insurance cost analysis page.

Professional liability insurance icon

Professional liability insurance costs for therapists and counselors

Mental health counselors, speech therapists, and other therapy and counseling professionals pay a median premium of about $40 per month, or $500 per year, for professional liability insurance.

Also called malpractice insurance, this policy offers critical coverage, including legal fees related to professional mistakes and accusations of negligence.

The cost of professional liability insurance depends on your risk of a lawsuit

Among therapy and counseling businesses that purchase professional liability insurance with Insureon, 27% pay less than $400 per year and 41% pay between $400 and $800 per year. Professionals who are more likely to face client lawsuits over the quality of their work may pay more for this coverage.

Professional liability insurance costs for therapists and counselors.

Learn how to save money on your policy, which coverage limits to choose, and more on Insureon's professional liability insurance cost analysis page.

Compare quotes from trusted carriers with Insureon

Insureon’s therapy and counseling business insurance agents work with leading U.S. carriers to find affordable coverage that fits your practice. Apply today to compare multiple quotes with one free online application. Work with an account manager specializing in the unique risks of mental health counselors, speech therapists, wellness counselors, and psychologists.

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