Why do speech therapists need insurance?
Speech therapists work directly with clients, which makes you especially vulnerable to third-party accidents and lawsuits. Business insurance covers costs and provides peace of mind in the event of a slip-and-fall injury or a claim that therapy worsened a patient’s stuttering. Some policies, such as workers' compensation, may be required by law.
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What types of business insurance do speech therapists need?
These insurance policies cover common risks faced by speech therapists.
General liability insurance
A commercial general liability policy covers basic risks of working with clients, including slip-and-fall injuries in your office. Bundle it with commercial property insurance for savings in a BOP.
- Accidents that injure clients
- Accidental damage to client property
- Libel and slander lawsuits
Business owner’s policy
A business owner’s policy, or BOP, is a cost-effective way for speech therapists to buy commercial property insurance and general liability insurance coverage together.
- Personal injuries
- Business property damage
- Business interruption incidents
Professional liability / medical malpractice
Professional liability insurance helps cover speech therapy claims including legal defense costs related to negligence. It’s also called malpractice insurance.
- Speech impediment that worsens
- Advice that causes a bodily injury
- Accusations of negligence
Workers’ compensation insurance
Most states require workers' comp for speech therapy businesses that have employees. It also protects sole proprietors from work injury costs that health insurance might deny.
- Employee medical expenses
- Disability benefits
- Employee injury lawsuits
Cyber insurance
A cyber liability insurance policy covers financial losses from data breaches and cyberattacks. It's strongly recommended for speech therapy practices that store personal information.
- Client notification costs
- Fraud monitoring services
- Data breach investigations
Commercial auto insurance
Commercial auto insurance covers the cost of an accident involving a vehicle owned by a speech therapy clinic. Most states require this coverage for vehicles owned by a business.
- Property damage caused by your vehicle
- Auto accident injuries
- Vehicle theft and vandalism
How much does insurance cost for speech therapists?
A self-employed speech therapist can expect to pay less for insurance than a larger healthcare provider.
Factors that affect speech therapist insurance premiums include:
- Speech therapy services, such as audiology, communication skills, brain injury treatment, and autism services
- Business property and equipment
- Business income
- Number of employees
- Types of insurance purchased
- Aggregate and per-occurrence liability limits
- Policy limits, deductibles, and exclusions
How do I get speech therapist insurance?
It's easy to get speech therapist 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.
- 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 plan for your speech therapy practice, whether you work independently or hire employees.
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FAQs about business insurance for speech-language pathologists (SLPs)
Review answers to frequently asked questions (FAQs) about speech therapy insurance and more.
How do you become a licensed speech therapist?
To become a licensed speech therapist (also called a speech-language pathologist), you must complete a structured education and training process. This typically includes:
- Earning a bachelor’s degree
- Then a master’s degree in speech-language pathology from an accredited program
- Completing supervised clinical experience and a clinical fellowship
- Passing a national exam (such as the Praxis)
- Applying for licensure through your state’s licensing board
Licensure is essential because it’s legally required to practice and is a standard expectation for employers in schools, hospitals, clinics, and other healthcare settings. It shows you’ve met professional and ethical standards and are qualified to treat patients independently.
It's also critical for insurance purposes since most insurance companies, including Medicare and Medicaid, require providers to be licensed in order to bill for services. Many employers and insurers also prefer the ASHA Certificate of Clinical Competence (CCC-SLP), which can improve job prospects and reimbursement opportunities.
What other types of insurance should an SLP consider?
In addition to basic professional liability insurance, speech therapists may want to consider the following coverage options for specialized risks:
- Telehealth coverage extends your professional liability protection to virtual therapy sessions and online treatment plan consultations, helping cover claims related to remote care.
- License defense coverage helps pay for legal fees, expert witnesses, and other costs if your license is investigated or challenged by a state board.
- HIPAA defense coverage covers expenses related to patient data breaches, HIPAA privacy complaints, regulatory investigations, and potential fines or penalties.
- Sexual misconduct defense coverage helps cover legal defense costs if a client alleges a violation of professional boundaries, even if the claim is unfounded.
These options help protect your practice from risks that may not be included in a standard policy.