Business owner’s policy for therapists and counselors

A business owner’s policy offers a broad spectrum of protection against the most common risks facing therapists and counselors, including client injuries and property damage. A BOP bundles general liability insurance and commercial property insurance at a lower rate than purchasing both policies separately.

General liability insurance covers accidental client injuries and client property damage for which you might be found liable. Commercial property insurance protects your business property and equipment from damage or loss.

A BOP shields against:

• Damage to business property
• Client injuries and property damage
• Advertising injuries
• Forced closure

Therapy and counseling business owners can tailor a BOP to meet their specific needs. Useful add-ons for a therapist might include business interruption insurance or another endorsement.

Businesses that are eligible for a BOP usually:

• Have fewer than 100 employees
• Have a small workplace or office
• Make less than $1 million in annual revenue
• Operate in a low-risk industry
• Need less than 12 months of business interruption insurance

Talk to a licensed Insureon agent to find out if your business meets the criteria for a BOP.

The commercial property portion of a business owner’s policy pays for repair or replacement of damaged, destroyed, or stolen items including:

• Business property, like laptops and computers
• Specialized equipment, such as an active passive trainer
• Office furnishings and fixtures
• Your building if you own it

If your occupational therapy clinic, health education office, or other therapy and counseling business sustains damage after a fire – even one that began in another building – a BOP can pay for the cost of renovation.

The general liability portion of a BOP can cover legal and financial expenses related to third-party injuries or property damage. For example, it can provide coverage when:

• A client trips and sustains a head injury at your office
• Your office assistant damages a client’s smartphone
• A delivery person slips on ice on your front step and breaks a leg

The general liability portion of a BOP also offers coverage against advertising injuries, such as:

•  Defamation, including libel (written) and slander (spoken)
• Copyright infringement

For instance, if a wellness counselor writes a negative review about a local competitor and your business is sued for libel, a BOP can cover the resulting legal costs.

If your therapy or counseling practice is forced to close after a fire or other disruptive event, your BOP can compensate for lost income and operating costs.

For example, a clinic may have to close its doors for a few weeks after a tornado. Business interruption insurance, included in most BOPs, can compensate for operating expenses (including staff wages, rent, and utilities) while your practice is being renovated.

A business owner’s policy offers broad protection for therapy and counseling professionals, but it doesn’t provide coverage for all risks. Business owners should also consider:

Professional liability insurance: Also called malpractice insurance, this policy can help cover legal expenses when a therapist or counselor is accused of a work error or negligence.

Workers’ compensation insurance: Workers’ comp can cover medical costs for work-related injuries. State laws usually require this coverage for small businesses with employees.

Cyber liability insurance: This policy covers financial losses from data breaches and cyberattacks. It's recommended for any small business that stores personal information.

Commercial auto insurance: This policy covers the cost of accidents involving a vehicle owned by your therapy practice. Most states require this coverage for vehicles owned by a business.

Are you ready to safeguard your therapy or counseling business with a business owner’s policy? Complete Insureon’s easy online application today. Once you find the right policy, you can begin coverage in less than 24 hours.