Massage liability insurance protects you and your practice
Graduation from massage therapy school is over, and it is time to get things in motion and start seeing paying clients.
Before you see your first patient, however, you have some essential business issues to attend to — one being massage liability insurance to protect you and your practice. Getting a good massage liability insurance policy is very important.
You can, of course, forgo any massage liability 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 and your family to a massage liability insurance carrier.
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 liability insurance, keep in mind you usually get what you pay for. In other words, do not keep massage liability insurance against minimal losses, but do not ignore real peril just because coverage carries a hefty premium.
What types of massage liability insurance coverage do you need? A lot of that depends on the plans for your massage business. Most new practitioners need the following:
• If you are renting space, your landlord may require massage liability insurance to protect against risk of someone falling or getting injured on the property.
• The cost of the massage liability insurance policy can be tax-deductible. Ask a properly qualified accountant for advice on how to buy your massage liability insurance for tax savings.
You may be able to save more money by asking for higher deductibles. Although, if you incur a loss, you pay more out of pocket, keep in mind you probably would never submit a claim for a small loss for fear your massage liability insurance premiums would go up or your coverage would be cancelled.
Massage therapists need insurance. But before you buy massage liability insurance, ask questions; get straight answers; and compare rates. Make sure the company has a strong rating and you trust them.
You should never buy a massage liability insurance policy, file it, and forget it. Review your insurance needs with your agent at least every two years. If your needs decrease, lower the coverage amount. Don’t ever carry and pay for protection you don’t need.
Shop carefully for a company and take a very close look at the products the company offers. Massage Liability Insurance products can vary greatly; know what you are buying.
Check ratings of massage liability insurance carriers with some of the major rating bureaus, such as A.M. Best Company, Weiss Ratings, Standard & Poor’s, or Moody’s Investment Services. Look for an “A” rating or better.
Properly evaluating your options can help you make the correct decision, a decision that is right for you, a massage liability insurance that is right for you and your practice and one that will result in lower costs, smaller tax bills, happy patients, and, most importantly, an increasingly more profitable practice.
Massage Liability insurance, Holistic insurance, therapist insurance and professional malpractice insurance information can be found at www.massageliabilityinsurancegroup.com.
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