Massage Therapy Liability Insurance Guide
Q: What is massage liability insurance?
A: Liability insurance is a part of the general insurance system of risk financing to protect the purchaser (the "insured") from the risks of liabilities imposed by lawsuits and similar claims. It protects the insured in the event he or she is sued for claims that come within the coverage of the insurance policy.
Q: Do I really need massage therapy liability insurance?
A: You can, of course, forgo any insurance and assume the entire risk. You can do this as long as you can be assured you will not suffer a major loss. However, since risk is impossible to predict, a better option is to pass any risks you feel would be detrimental to you, your massage business and/or your family to a massage liability insurance carrier.
Q: When should I buy massage liability insurance?
A: You should consider purchasing massage liability insurance when you begin your career as a massage therapist. Coverage is also generally available to students at discounted rates under man programs.
Q: What are the kinds of coverage provided by liability insurance?
A: Most Liability insurance plans include professional liability (malpractice), general liability (trip and fall) and product coverages (eg, adverse reaction to an oil or lotion). Some programs offer additional coverage as well. You should check with the program sponsor for details.
Q: How much should I buy?
A: Most liability insurance programs offer liability protection at $1 million or $2 million dollar coverage per occurrence per year. Annual aggregate coverage generally ranges between $2 million and $3 million.
It is important to note the difference between "occurrence form" and "claims made" coverage. Occurrence form coverage means claims arising out of incidents that occur during the policy term are covered even if they are reported after the end of the policy term. Claims made coverage means claims arising out the incidents that occur during the policy term are covered only if they are also reported before the end of policy term. Some claims made policy forms allow for an extended reporting period beyond the policy term. Occurrence form coverage or claims made coverage with an extended reporting period are generally the best options, compared to pure claims made coverage.
Q: How do I know a liability insurance carrier is legitimate?
A: Check ratings of massage liability insurance carriers with some of the major rating agencies, such as A.M. Best Company, Weiss Ratings, Standard & Poor’s, or Moody’s Investment Services. Look for an “A” rating or better.
Q: How can I be sure I am choosing the best program for my needs?
A: Research the websites of the various massage liability insurance providers and spend the time to compare the benefits and costs of each program. Some of these sites provide an online comparison of their program with those of the competition. Speak to their licensed representatives as necessary to help you to make an informed choise as to what massage insurance program best meets your needs and objectives.
Q: What are the additional benefits to having liability insurance?
A: Additional benefits vary widely by provider but some of the best offers include FREE Identity Protection Insurance, FREE Lost or Stolen Equipment Coverage, a FREE Business Website, and a FREE directory listing on an industry leading website, and a FREE industry newsletter.
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By taking the time now to find and sign up for a solid massage therapy liability insurance policy, hands-on healers can secure peace of mind in the face of life’s sometimes unwanted occurrences.
Massage insurance is a safe bet
For most of the choices one makes, the concept of “risk versus reward” can be applied to help reach the proper decision. In the business sense, using the risk versus reward rule can be especially necessary and helpful.
Planning leads to a professional practice
Having a plan is essential to nearly any large project, and certainly a plan is key to running a successful massage therapy or bodywork practice. For starters, it is incredibly important to enroll in a solid massage therapy liability insurance program. Liability insurance should offer a number of benefits to you and your practice. A massage therapy liability insurance policy also should offer general liability protection, which means coverage in case a client is accidentally injured on your property, during a trip, slip, fall or other such accident.
Liability insurance a smart move for massage therapists
Among massage therapists and bodyworkers, however, seeing the need for massage liability insurance may not seem so clear. It is with these “loose cannon” clients that massage liability insurance can come in so handy. If a situation such as the above occurred with a touch therapist who was carrying the right massage liability insurance, she could simply call her insurance carrier to be guided through the process of handling this complaint, which would fall under the malpractice heading of professional massage liability insurance.
Massage liability insurance protects you and your practice
Before you see your first patient, however, you have some essential business issues to attend to — one being massage therapy liability insurance to protect you and your practice.
A few hours invested upfront shopping for the best, most appropriate massage liability insurance options can save you money in premiums or claims down the road. With massage therapist liability insurance, keep in mind you usually get what you pay for. What types of insurance coverage do you need?
Massage therapy insurance: Cheapest not always the less-expensive option
Every massage therapist faces choices; however, making the right choice for your massage therapy business doesn’t always mean selecting the option that costs the least.
In far too many cases, the less-expensive option for massage therapy liability insurance ends up costing you more in the long run. When evaluating available options, you should be wary of incentives.
