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You know so much about the body and how energy flows throughout it. Not only are you an expert at providing pain relief for clients, but you’ve worked hard to build a business that allows you to do what you love.
So, don’t you think it’s time for small business insurance that understands your needs?
At Simply Business, we offer acupuncture liability insurance policies that protect you from the risks you face as a small business owner. Just answer a few questions, compare policy quotes from top insurers who get acupuncturists, and pick the policy that’s right for you.
You can get started in less than 10 minutes.
See what it’s like to have acupuncture insurance that gives you the protection you need. Get your free quotes today!
Policies Available for Acupuncture Insurance:
Insurance for acupuncturists may include several policies, depending on what your business needs. Here are three core policies we suggest for acupuncture insurance:
Commercial general liability (GL) insurance for acupuncturists protects your business from a variety of claims related to third-party accidents and property damage or bodily injury to a third party. General liability insurance also can protect your business equipment in the event it is damaged or stolen.
The repercussions of not having this type of insurance coverage can be costly. The average claim for property damage or accidents for small businesses is $30,000. That’s money that would otherwise come out of your business if you’re not covered.
Here’s how general liability insurance can work for acupuncturists: Imagine that while setting up your acupuncture bed at a client’s house, you accidentally knock over their TV. The client is furious and sues you for the damage.
Without acupuncture insurance, you may have to pay for the damages on your own. Fortunately, if you’re covered, not only will your policy cover replacing the TV, it also may cover the fees associated with a lawsuit (up to policy limits).
So what could general liability insurance cover?
Now here’s what general liability insurance usually doesn’t cover:
As a licensed acupuncturist, you work with needles and other equipment which, if misused, could potentially harm a client. For example, what happens if one of your employees doesn’t set up the acupuncture table correctly and a client is injured during a procedure?
Your professional liability insurance has you covered.
Acupuncture insurance covers claims that you, your employees, or your business were negligent in providing your services. Let’s see how professional liability insurance (PL) works in real life.
Let’s say you’re providing a first-time client with acupuncture services. While treating the client, you incorrectly insert a needle, which causes them to bleed. The client claims to be traumatized and sues you for pain and suffering.
Professional liability insurance can protect your business’s finances from costs associated with your or your employee’s negligence while on the job. As an acupuncturist, you should consider PL coverage because your line of work puts you at risk of various client claims. .
Here’s a brief recap on what professional liability insurance can cover:
Keep in mind that PL insurance usually doesn’t cover:
For most states, if you have an employee (even if they’re part-time or temporary), you’re required to carry workers compensation insurance. This type of insurance protects your business if an employee gets injured or sick while on the job.
Even if not required, acupuncturists who have employees should strongly consider getting workers compensation insurance. In fact, in 2018, small businesses spent a total of $170.8 billion on work injury costs. The average cost per medically consulted injury was $41,000. Those expenses can be crushing to you and your business.
Workers compensation insurance for acupuncturists can cover the following for your employees that get injured or sick while on the job:
Tacking on acupuncture insurance as an added business expense can feel major, especially if you’re just starting your business or if you have plans to invest in equipment or space for your practice.
The reality is, what you spend on business insurance could be significantly smaller compared with what you might spend if you get sued by a client (even if you aren’t in the wrong) or if you are negligent while treating a client. Also, if insurance coverage is required in your state, you could rack up fees if you don’t have the appropriate coverage.
Consider the average costs a small business owner is at risk of without insurance:
Lawsuits are common for small business owners, which adds to the list of potential expenses. In fact, 43% of small businesses have reported being either threatened with or involved in a civil lawsuit.
It’s important to note that you don’t have to do anything wrong to get sued by a client. Even if you provided the best possible acupuncture services, a client could still decide to sue you if they are unhappy about something you did or didn’t do. If that happens, you’ll have to hire a lawyer to defend you and your business.
Without the right insurance coverage, these expenses could come out of your own pocket!
Also, having proof of insurance can be a significant differentiator for reaching other milestones that grow your acupuncture insurance, such as:
When you buy insurance through Simply Business, we’ll provide you with a certificate of insurance (COI), so you can provide proof of coverage.
If you have any part-time, full-time, or temporary employees, workers compensation insurance may be required, depending on your state. Your state also may require you to carry acupuncture liability insurance if you rent a space to perform your services.
Generally, you can deduct your business insurance premiums when filing your business’s taxes each year. For more information on which business expenses are tax-deductible, we recommend that you speak to an accountant.
The amount of coverage you will need will depend on several factors, such as:
If you have additional questions, our licensed insurance agents will be happy to help!
We know you’re busy building and running your business, so to get your business insurance quote as quickly as possible, we recommend having the following on hand:
Your state may have different insurance requirements for acupuncturists from another state. If you have any questions, our insurance agents can help you understand your state’s requirements for acupuncture liability insurance.
A comprehensive insurance solution that includes general liability, professional liability, and workers compensation can cover:
The cost of your insurance policy will largely depend on the type of work you’re doing and whether or not you have any employees on your team. For the most part, you can expect your policy costs to be determined by:
Want to see how much your acupuncture insurance may cost? Just click here to answer a few questions and start comparing policy prices.
If you perform other services, our licensed agents can help you find the right insurance coverage that offers robust protection.
Simply Business is an online insurance brokerage that makes it easy to compare the best policies and quotes from top insurers. We’re one of the fastest-growing online providers of small business insurance. Thousands of customers trust us to protect their businesses.
Why choose us? It’s simple:
We’re fast and affordable. You have a lot on your plate, and you don’t have time to worry about your insurance policy. Our policies are fast, affordable, and ready whenever you are.
We’re flexible with coverage. Your business changes, so you need an insurance policy that can keep up. We’re here to help make sure you’re protected no matter what your business needs.
We get your business. You deserve an insurance policy that understands your business from the inside out. That’s where we come in.
You work hard to grow your acupuncture business, and you should have an insurance policy that protects that hard work.
This content is intended to be used for informational purposes only. It is not intended to provide legal, tax, accounting, investment, or any other form of professional advice.
*Harborway Insurance policies are underwritten by Spinnaker Insurance Company and reinsured by Munich Re, an A+ (Superior) rated insurance carrier by AM Best. Harborway Insurance is a brand name of Harborway Insurance Agency, LLC, a licensed insurance producer in all 50 states and the District of Columbia. California license #6004217.