How much does therapy and counseling business insurance cost?

Therapists and counselors pay a median premium of less than $30 per month, or $350 annually, for general liability insurance. This policy provides financial protection for third-party bodily injuries and property damage, along with advertising injuries.

Insureon’s licensed agents recommend a business owner's policy (BOP) over a standalone general liability policy. A BOP combines general liability insurance with commercial property insurance to protect your counseling office and equipment, and costs less than purchasing each policy separately.

Among therapists and counselors that purchase general liability with Insureon, 79% pay less than $400 per year and 14% pay between $400 and $600 per year.

Therapists and counselors who see more clients take on more risks, and may pay more for this insurance.

Policy limits determine how much your insurer will pay on covered claims. The per-occurrence limit is the maximum your insurer will pay for a single incident, while the aggregate limit is the maximum your insurer will pay on any claims during your policy period, typically one year.

Most therapists and counselors (82%) choose general liability policies with a $1 million per-occurrence limit and a $2 million aggregate limit. As your small business grows, you may need to expand your policy limits.

Learn how to save money on your policy, which coverage limits to choose, and more on Insureon's general liability insurance cost analysis page.

The median premium of a business owner’s policy for occupational therapists, psychologists, and other therapy and counseling professionals is about $40 per month, or $500 per year. This policy combines general liability insurance with commercial property insurance, typically at a discounted rate.

Among therapy and counseling businesses that purchase a business owner’s policy with Insureon, 27% pay less than $500 per year and 62% pay between $500 and $1,000 per year. The cost is driven by the amount of property coverage included in a BOP.

Learn how to save money on your policy, which coverage limits to choose, and more on Insureon's business owner's policy cost analysis page.

To meet your state’s requirements, therapy and counseling businesses with employees typically must purchase workers’ comp insurance. Sole proprietors may also buy this policy to protect against medical costs from work injuries, which health insurance can exclude.

Workers' compensation helps cover medical bills and partial lost wages when an employee suffers a work-related injury or illness. The median premium is about $55 per month, or $635 annually, for therapy and counseling businesses.

Among therapy and counseling businesses that purchase workers’ compensation insurance with Insureon, 45% pay less than $600 per year and 32% pay between $600 and $1,200 per year. The cost depends on the number of employees and their level of occupational risk.

Learn how workers' comp premiums are calculated and more on Insureon's workers' compensation insurance cost analysis page.

Mental health counselors, speech therapists, and other therapy and counseling professionals pay a median premium of about $40 per month, or $500 per year, for professional liability insurance.

Also called malpractice insurance, this policy offers critical coverage, including legal fees related to professional mistakes and accusations of negligence.

Among therapy and counseling businesses that purchase professional liability insurance with Insureon, 27% pay less than $400 per year and 41% pay between $400 and $800 per year. Professionals who are more likely to face client lawsuits over the quality of their work may pay more for this coverage.

Learn how to save money on your policy, which coverage limits to choose, and more on Insureon's professional liability insurance cost analysis page.