The general opinion out there is that massage therapy is a low-risk practice, but sometimes accidents do happen. If it ever does happen, having quality massage insurance for professionals will quickly put your mind at ease. Imagine how expensive it would be to shoulder medical costs, repairs, and punitive damages if you were to injure a client accidentally. It helps to know what to compare when buying comprehensive massage insurance. Whether you are operating a boutique massage parlor or a large-scale one, you must compare prices, features, and supplemental services.
How Does Massage Therapy Insurance Coverage Benefit Your Business?
You get massage therapy insurance to mitigate loss, protect yourself, clients, and your business should an unforeseen event or crisis arise. So, in any event, you, your practice or a client gets injured while you’re working, you can quickly remedy the situation. If you allow the situation to escalate, especially when a client is involved, you could face the law. It is cost-effective to handle things swiftly and prevent an escalation, which massage therapy insurance lets you do. Although it’s not mandatory to get a policy in every state, it’s worth the money because it saves you unnecessary stress.
1. Comparing Massage Therapy Insurance Cost
With the low risk involved, you want to make sure you are paying a fair price for your massage therapy insurance. Premiums are quite affordable these days, but it doesn’t mean you should choose just any random plan. For a few hundred dollars or less annually, you can get a policy that covers professional liability, general, and property damage claims. The cost of massage insurance for professionals depends on the value you place on the properties you are covering. Whether it’s state-of-the-art technology, equipment, or tools, you will want to choose something that gives you maximum protection.
2. Exploring Massage Therapy Insurance Features
Whichever plan you select, you need it to have all three core liability features: professional, business property, and general claims.
Business property liability: This protects all your valuable assets and furnishings. So, if you have an accident with one of your tools that happens to set your entire parlor ablaze, you can file a property liability claim; and mitigate your loss.
General liability: With this feature, you’ll have full coverage to take care of accidental damages involving your client. It allows you to cover any personal injury costs involved and emotional suffering that follows. How you handle these cases is crucial to preserve your public image and that of your business; because any mismanagement can reflect negatively on your brand.
Professional liability: Malpractice can have you facing the courts if your client decides to go that route. It provides a standard form of personal insurance to protect you when you are dealing with these circumstances. Sometimes, legal repercussions can bankrupt a business that doesn’t have comprehensive insurance coverage. Also, it can tarnish your reputation, which can be devastating for future businesses.
Your insurance can cover accidents at your massage parlor that are a consequence of faulty equipment or products; for example, blanket heaters malfunctioning. Also, massage insurance for professionals will cover most related expenses, including a fall or slip, or another mishap. Most insurers cover claims for punitive damages, property loss (decor and furnishings), legal fees, medical costs, building structure degradation, and lost income.
3. Massage Therapy Insurance Extras
Today, companies offering massage therapy insurance for business, throw in extras to sweeten the deal. Some insurers might add identity protection, stolen/lost equipment replacement or reimbursement, rental damage waiver, and so forth. As you go over your options, be sure to scan for these add-on services that can be worthwhile in the long run.
