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Why do occupational therapists need business insurance?
Even in the safest therapy practice, accidents happen. A patient with a disability could slip in your office, or claim that your advice worsened their condition. Occupational therapist insurance gives you peace of mind and can help pay for legal fees, medical payments, and costly repairs.
Find affordable coverage
Occupational therapists can save money on insurance by comparing quotes from top-rated insurance companies.
Fill out Insureon's easy online application to get free quotes and advice from a licensed agent.
What types of business insurance do occupational therapists need?
These insurance policies cover common risks of occupational therapy.
General liability insurance
General liability insurance coverage is often required for a commercial lease. It covers basic risks of working with clients, such as a slip-and-fall injury at your occupational therapy clinic.
BEST FOR
- Accidental bodily injuries
- Accidents that damage client property
- Libel and slander lawsuits
Business owner’s policy
A business owner's policy, or BOP, is a cost-effective way for occupational therapists to buy general liability coverage and commercial property insurance together.
BEST FOR
- Client personal injuries
- Stolen or damaged business property
- Business interruption incidents
Professional liability / medical malpractice
Professional liability insurance covers legal defense costs from work mistakes. It's sometimes called occupational therapy malpractice insurance or errors and omissions insurance (E&O).
BEST FOR
- Advice that causes harm
- Accusations of negligence
- Mistakes made by a therapist
Workers’ compensation insurance
Most states require workers' comp for occupational therapy businesses that have employees. It also protects sole proprietors from work injury costs that health insurance might deny.
BEST FOR
- Employee medical expenses
- Disability benefits
- Lawsuits from employee injuries
Cyber insurance
This policy covers financial losses from data breaches and cyberattacks. It's strongly recommended for occupational therapy practices that store personal information.
BEST FOR
- Client notification costs
- Fraud monitoring services
- Cyber extortion reimbursement
Commercial auto insurance
Commercial auto insurance covers the cost of an accident involving a vehicle owned by an occupational therapy clinic. Most states require this coverage for vehicles owned by a business.
BEST FOR
- Property damage caused by your vehicle
- Auto accident injuries
- Vehicle theft and vandalism
Looking for different coverage? See more policies.
How much does insurance cost for occupational therapists?
An occupational therapist who works independently can expect to pay less for insurance than a larger practice.
Factors that affect occupational therapist insurance premiums include:
- Wellness services offered, such as telehealth therapy
- Business property and equipment
- Business income
- Type of policies purchased
- Number of employees
- Deductibles
- Aggregate and per-occurrence liability limits
How do I get occupational therapist business insurance?
It's easy to get occupational therapy business insurance if you have your company information on hand. Our application will ask for basic facts about your practice, such as revenue and number of employees. You can buy a policy online and get a certificate of insurance with Insureon in three easy steps:
- Complete a free online application
- Compare insurance quotes and choose policies, like professional liability insurance
- Pay for your policy and download a certificate
Insureon's licensed insurance agents work with top-rated U.S. providers to find the right insurance coverage for your private practice, whether you work independently or hire employees.
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Common questions about occupational therapy liability insurance
Take a look at answers to frequently asked questions (FAQs) about insurance for occupational therapists and more.
Are occupational therapists required to carry malpractice insurance?
While state laws typically don't require occupational therapists (OTs) to carry medical malpractice insurance, local governments, occupational therapy health networks, medical offices, hospitals, and other facilities may require you to carry it and provide a certificate of coverage as proof.
Even when you're not required to have malpractice coverage, it's a crucial element to the longevity of your practice and protecting it from financially devastating lawsuits. A patient could sue your business for professional negligence, malpractice, failure to meet a certain standard of care, or if you make a mistake that causes harm.
Additionally, your employer may offer some level of malpractice insurance, but it might only provide limited coverage that wouldn't fully protect your professional services in the event of a claim. Maintaining your own policy will ensure you have an adequate amount of protection for your business.
You can save money on a professional liability policy by shopping around to compare policies, bundling your coverage with other insurance products, customizing your policy to meet your business needs, and reducing your risks to avoid claims.
A few ways to reduce your risks of a malpractice lawsuit is by upholding ethical and professional standards, maintaining strictly professional relationships with patients, keeping detailed notes and documentation, avoiding unapproved treatments, and always maintaining client confidentiality.
What other coverage should occupational therapy practices carry?
While general liability, workers' comp, and commercial auto provide significant protection for OTs, it doesn't protect your business from every risk. Some additional types of insurance to consider are:
- Telehealth coverage, which covers lawsuits related to virtual appointments with clients.
- HIPAA defense coverage offers financial and legal protection for violations of the Health Insurance Portability and Accountability Act (HIPAA).
- Sexual misconduct coverage safeguards against malpractice claims of healthcare provider-patient boundary violations.
Why is professional negligence a risk for occupational therapists?
Occupational therapists often have direct contact with patients of all kinds, including the elderly and disabled, and because of the variety of patients they work with and their varying levels of contact, therapists are wide open to lawsuits over negligence.
A few examples of potential negligence lawsuits include:
- Incorrectly diagnosing a patient's condition
- Failing to adequately improve a patient's ailment
- Improperly documenting treatment
- Violating a patient's rights, such as sexual misconduct or other boundary
Thankfully, minimizing your risks for negligence claims is as easy as implementing a few risk management strategies. Some examples include maintaining clear, constant communication with patients and their family members or caregivers, keeping detailed records and documentation, and adhering to the standard of care for occupational therapists.
While there's no way to completely eliminate all risks, even with these strategies, you can bolster your risk management plan with the right insurance coverage. Professional liability insurance, also called professional indemnity insurance, is a key protection for you and your business.