Cost is one of the most important factors when shopping for professional liability insurance. Your budget will determine what you can afford, what insurance company will work for you, and what insurance plan you land on. When looking at purchasing a liability insurance plan for massage therapists, you have a lot of options. It’s easy to get bogged down in the plethora of options you have available.
We’ll take a hard look at the cost of massage therapy liability insurance and give you a rundown of what your insurance should provide. At Massage Magazine Insurance Plus (MMIP), we are more than just an insurance company. We want our policyholders to have everything they need to make the best decision on insurance. We’ve got the inside scoop and information you need to determine a reasonable cost for massage therapy insurance.
What Every Massage Insurance Needs
Let’s begin our deep dive by exploring what every liability insurance for massage therapists should include. When you know what to shop for, you can weed out several of your options right off the bat. Here’s what to look for in a massage therapy insurance policy:
- Professional and general liability coverage: You will want your bases covered for insurance. Be sure to look for a plan with occupation-specific and general coverage for universal risks.
- Product liability coverage: Not every insurance company offers product liability. As a massage therapist, however, you will use various products daily. Be sure your policy includes coverage for product liabilities when you shop for insurance.
- Stolen equipment coverage: The tools and instruments you use daily are an important part of your work. If your equipment gets stolen, you’ll want your insurance company to help replace the essential items.
- Member benefits: Let’s be honest; these days, the benefits make a significant difference when looking for an insurance policy. Look for an insurance company that provides ample benefits specific to your profession. The benefits can make or break a policy. You don’t have to settle for less than what you want.
- Excellent customer service: Poor customer service can ruin a great insurance policy. Check out reviews and what other people have said about their experience before choosing a company.
Making a checklist of everything you want in an insurance company can be helpful. Of course, you want an insurance policy to provide for your coverage needs, but there are other things to consider. Take into account everything your career as a massage professional involves. Find a policy that matches your stage of life and career.
Make an Investment, Not a Mistake
As you shop for massage insurance, remember that you’re investing. You are protecting yourself from potential liability claims against you and making a wise decision that can benefit your entire career. As you consider which insurance company works best for you, determine which company will be a wise investment. Which insurance provider will give you the most for your money? Which insurance provider offers the coverage you need at a price you can afford?
You will want to consider all these questions when shopping for massage insurance. You don’t want to avoid getting stuck with a company that offers too little coverage for too much money. While there’s no need to stress over finding an insurance policy, research massage insurance options and make an informed decision.
MMIP offers the same excellent coverage in each of our plans. We’ve tailor-made our policies to fit different stages in your career and best suit your needs. Our massage therapist liability insurance plans offer generous coverage limits with all imaginable perks. We prioritize keeping our costs low so our members can get the coverage they need at a price they can afford.
1-Year Professional Plan
Our one-year professional coverage plan is as little as $169 for 12 months. You have the option to pay in manageable monthly increments or all at once. This plan is perfect for massage therapists looking for a new insurance policy for their full-time occupation. It’s also a good option if you are still deciding what your future career holds. If you’re considering switching careers or changing things up, the one-year plan gives you the necessary flexibility.
2-Year Professional Plan
The two-year plan for full-time massage therapists is as little as $289 for 24 months. You can make flexible payments over the first 12 months or pay all at once. This policy is an excellent option for massage therapists who are well-established in their careers and need comprehensive liability coverage. The two-year plan may be an excellent option if you like to plan ahead.
1-Year Part-Time Rate
If massage therapy is your side gig, the one-year part-time rate may be an excellent plan. This plan is as little as $149 for 12 months. Like the professional plans, the part-time option gives you flexible payments over 12 months or a single payment of $149. As a part-timer, you don’t receive less coverage than the professional rates. In fact, this plan includes the same coverage and benefits access as the professional plans. We created a part-time plan to help meet people where they are in their careers.
Our student rate is just $40 for 12 months of coverage. If you’re still learning to become a professional massage therapist, it’s important that you have liability coverage. While a professional instructor supervises most students, if something goes wrong, you could be held liable. You still reap the benefits of full coverage and member perks at a steeply discounted rate while you perfect your craft.
What Other Companies Charge
You could spend hours scouring the internet to find the information you need to purchase massage therapy insurance. Fortunately, we’ve done all the legwork for you. We’ve done the research and homework on the cost comparison for massage insurance companies. We have a more detailed massage therapy Insurance comparison chart for you if you need more information. We want it to be convenient and simple to gather the information you need on the cost of massage therapy insurance.
Here’s what you can expect to pay and receive with some of our top competitors.
Beauty & Bodywork Insurance
Beauty & Bodywork Insurance offers a one-year professional plan for $96 and a one-year student plan for $67. While they have lower prices, Beauty & Bodywork Insurance offers bare-bones coverage. With little to no benefits or additional included coverage, you may have to pay additional fees to get sufficient coverage. Additionally, they only offer claims-made insurance, which can be a deterrent to many massage professionals.
Hands On Trade
Hands On Trade offers a professional plan for $154 per year and a student plan for $75 per year. Hands On Trade provides the same coverage limits that we do but does not include much additional coverage. You may be required to pay additional fees for more coverage.
American Massage Therapy Association (AMTA)
AMTA offers coverage for $237 a year for professionals and $89 for first-year graduates. Though this plan is more expensive and provides a higher individual aggregate, it lacks coverage range. You can add coverage such as stolen equipment protection and others for additional fees.
However, this plan offers no opportunity for continuing education hours and has a 500-hour qualifying limit. This means you are only eligible for coverage with AMTA if you have achieved 500 training hours for massage therapists. This could be a deciding factor for those who still need to meet the current requirements.
Associated Bodywork and Massage Professionals (ABMP)
ABMP offers a professional rate of $199 per year and a certified rate of $229 per year. While ABMP provides a generous coverage limit and includes several coverage options, they also require a 500-hour minimum of education for certified massage therapists and a 100-hour minimum for practitioners. With the strenuous training hour requirements, many massage therapists could be without coverage until they have achieved the required education.
How to Know if You’re Paying Too Much for Massage Insurance
With all the information, it can be difficult to tell if you’re getting the right coverage at an appropriate price. Ultimately, you determine your budget based on what you can afford and what is a good return on your investment. If you’re unhappy with your coverage, take inventory of what you want from an insurance company. If you think you are overpaying for insurance, ask yourself some of the following questions:
- Can I afford my current insurance plan on my budget?
- Am I getting the coverage I need?
- Am I satisfied with my insurance company?
- If I could change anything about my coverage, would I?
- What is the price I feel comfortable paying for liability insurance?
You can better understand your massage therapy insurance costs and budget by asking yourself these questions.
Make the Right Move
At Massage Magazine Insurance Plus, we want to equip our policyholders with everything they need to make an informed decision. We offer the coverage you need, an affordable price, and an outstanding customer experience. Make a wise investment and get massage therapy insurance today.