Cost And Types You Need – Forbes Advisor

If you’re a massage therapist, you’re likely used to dealing with business challenges from time to time, even as you help others find their inner Zen. But you can’t predict the future. Damage to your business equipment and injuries to your customers are just a few of the problems you may face while running your business.

Insurance for massage therapists can help pay for unexpected events that could jeopardize your financial security. Think of massage therapist insurance as a core group of coverage types for a gamut of predicaments.

What Is Massage Therapist Insurance?

Massage therapist insurance is a type of small business insurance policy that includes a handful of coverage types that cater to the particular risks that can impact certified massage therapists. These can include property damage and injuries to others and lawsuits.

For example, let’s say one of your clients files a lawsuit against you after claiming to experience chronic pain or an injury from your massage sessions. In this case, the professional liability part of your business insurance policy can pay for your settlements and legal fees.

What Does Massage Therapist Insurance Cover?

Massage therapist insurance packages together various types of small business insurance to cover your practice for a range of incidents. These can include accidents and injuries, stolen equipment, and property damage to your massage table or chair.

A business owners policy (BOP) can be the foundation of massage therapist insurance. It groups together three essential types of coverage. Plus, it’s usually less expensive than buying each on its own.

Here’s the coverage you can expect in a BOP:

Business Liability Insurance

Also known as general liability insurance, business liability insurance helps pay for accidental property damage and injuries caused to others. For example, if a client falls while getting off your massage table, your business liability insurance can pay for your client’s doctors bills and for your legal costs if you’re sued because of the accident.

It can also pay for legal costs in case you face a lawsuit for advertising injury, reputational harm, copyright infringement, libel and slander. Business liability insurance can also compensate you for legal fees if you’re sued for copyright infringement.

Commercial Property Insurance

Commercial property insurance covers the physical location of your massage therapist business and your equipment and supplies, such as massage tables, chairs, towels, lotions and oils.

For example, if equipment was stolen during a burglary,  commercial property insurance can help pay the bill to replace or repair your assets.

Business Interruption Insurance

Business interruption insurance covers you financially by helping to replace lost income if your business is forced to close due to an unexpected issue covered by your policy. Let’s say you’re forced to close down for several months because of a fire. In this case, business interruption insurance can provide lost wages to tide you over until you’re open again for business.

Types of Business Insurance Massage Therapists Need

A massage therapist business might need types of coverage beyond their BOP for other issues, such as workplace injuries, data breaches and car crashes.

Commercial Auto Insurance

Your personal auto insurance policy won’t cover business use of a vehicle. That’s why you’ll need commercial auto insurance, which covers trucks, vans and cars you use for your business, such as driving to a client’s home for in-home sessions.

Bodily injury liability insurance: Should you or your employees cause a car crash, this covers medical bills for accidental bodily injuries.

Property damage liability insurance: Let’s say you accidentally damage your client’s car while moving your massage table. This covers the cost to repair or replace the damage.

Collision car insurance: If you or your employees get into a car accident, this covers replacement or repairs for your business vehicle.

Comprehensive car insurance: This pays to repair or replace your business vehicle for issues other than a car crash—theft, vandalism, hail, fire, crashing into objects, running into objects, and collisions with animals—to name a few.

Uninsured/underinsured motorists insurance (UM/UIM): Let’s say you get hit by a driver who doesn’t have enough car insurance or doesn’t have car insurance. UM can cover you and your passengers’ medical bills.

Medical expenses coverage: Whether you or the other party is at fault, this can pay for you and your passengers’ medical expenses from any injuries in the accident.

Commercial Umbrella Insurance

Should you need an additional layer of padding on top of your general liability insurance, consider a commercial umbrella insurance policy. Case in point: Your massage therapist practice gets sued for $500,000 and your general liability limits are $250,000. In this case, umbrella insurance would cover the $250,000 gap.

Cyber Liability Insurance

Let’s say your massage therapist practice suffer from a data breach or cyberattack, and It exposes your customers’ sensitive information, such as credit card numbers, addresses or Social Security numbers. This coverage type can help pay the bill for data recovery and investigative services. Cyber liability insurance also can cover any judgments, settlements and legal costs linked to a cyber incident.

Workers Compensation Insurance

In most states, you are required to have workers’ compensation insurance even if your business only has one employee—yourself. Should an employee fall sick or injured due to work-related tasks, this covers disability benefits, lost wages and medical expenses.

What’s Not Covered by Massage Therapist Insurance?

Massage therapist insurance doesn’t cover every type of problem. Here are typical exclusions:

• Wrongful termination (You can purchase employee practice liability insurance for this coverage.)
• Earthquakes and floods to your business building (you can purchase separate earthquake insurance and flood insurance policies.)
• Infectious diseases.
• Intentional and fraudulent acts.
• Radioactive fallout.

Examples of Massage Therapists Claims

Here are some examples of claims personal trainers might run into and the type of coverage needed:

How Much Does Massage Therapist Insurance Cost?

The median annual cost for massage therapist insurance is  $35 per month for general liability insurance, according to Insureon. The median cost for a business owner’s policy is less than $70 a month.

Your massage therapist business insurance costs will be affected by:

• Business revenue.
• Coverage limits and deductible amount.
• Location of your business.
• Number of employees.
• Type of insurance coverage.
• Type of massage services offered, such as shiatsu or Swedish
• Value of massage tables and other business property.

Who Needs Massage Therapist Insurance?

Massage therapist insurance coverage is beneficial for a variety of people who work in the healing professions. This includes:

• Acupuncturists.
• Massage therapists.
• Professionals who offer hot stone massage, sports massage or chair massage.
• Reflexologists.
• Reiki specialists and healers.
• Physical therapists.
• Physical therapist assistants.

How to Get Massage Therapist Insurance

Here’s how to find a massage therapist insurance policy that’s a good fit for your needs and situation:

Gather Your Documents

Before you hunt around for a business insurance policy (BOP), it’s a good idea to collect all the necessary information and documents. This will make for a streamlined application process:

• Your contact information.
• Your business information.
• Whether you own or rent the property.
• Description of your business activities.
• Number of employees.
• Proof of how long you’ve been in business.
• Anticipated annual business revenue for this year.

Choose Coverage Types

When deliberating over the insurance coverage that fits your needs, a business owner’s policy is a great jumping-off point. A BOP combines three essential coverage types—general liability insurance, business interruption insurance and commercial property insurance. This simplifies your insurance and can be more cost effective than buying these policies separately.

You can customize your coverage even more to tailor to the particularities of your massage therapist business. Let’s say you use your car to drive to healer conventions, massage workshops and retreats and in-home client visits. If so, you can tack on commercial auto insurance to your BOP.

Shop Around for Massage Therapist Insurance Quotes

Your prices and coverage details depend on the insurance company. In turn, shopping around for quotes from a handful of insurance providers is a good approach to landing the best policy and prices. Depending on the company, you can either request insurance quotes online or by contacting an independent insurance agent.