Insurance for Acupuncturists
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What Insurance Do Acupuncturists Need?
General Liability Insurance protects your small business against claims of third-party bodily injury and property damage, reputational harm and advertising injury. It covers medical bills, repair costs & legal fees.
Commercial Property Insurance will provide coverage for your properties in case damage renders them impossible to rent or lease.
Professional Liability Insurance (or E&O Insurance), protects your small business from claims of mistakes, negligence or malpractice made when providing your services that caused sobody financial loss. PLI covers your legal defense costs, damages and settlements.
Commercial Auto Insurance covers your cars, trucks, and vans used in your business. It covers the costs from vehicle damage in collisions, theft, vandalism and weather damage. It also covers medical expenses for to injured parties.
Workers Compensation covers your employees' medical costs and lost wages while recovering from a work-related injury or illness. The employee gives up the right to sue your company in return for receiving cash and benefits from Workers Compensation. In some states it’s mandatory for businesses!
Frequently Asked Questions
How much does Acupuncturists Insurance cost?
The cost of insurance for acupuncturists depends on which carrier you purchase a policy through. Most will want to know how much experience you have, what your annual revenue is, and any policies and procedures you have in place before they offer a quote. The cost can start as low as $400/year.
What are risks Acupuncturists could face?
Just like you create a plan to heal and help patients, you also need to create a plan to protect your acupuncture business against these common risks.
- Unhappy Patients: Patients expect you to make a difference in their health. If you fail to deliver on promises or they are just unhappy with the results, they can sue your practice. Lawsuits often occur even when an acupuncturist doesn’t knowingly do anything wrong.
- Injury: Owning or renting a property for your business includes a lot of maintenance responsibilities to keep the grounds safe for patients. If you fail to clear sidewalks, repair broken steps, or place a wet floor sign, and a patient falls; you can be held responsible for the medical bills and any time they miss being paid at work.
- Skin Rash: If the care you provide using needles or other treatment lotions causes a serious reaction on the patient’s skin, you are responsible for their additional medical expenses. They can hold you liable even if you use a third-party product.
- Building Fire: Fires are unpredictable and quickly destroy everything in their path. If you receive a call in the middle of the night that your building was completely destroyed, how would you pay to rebuild or replace your business?
Why Acupuncturists need insurance?
As an acupuncturist, you understand and appreciate the value of alternative medicine techniques. Patients rely on you for a fresh approach free of prescriptions and surgery to guide them on a path of healing. The fact that your daily appointments include inserting tiny needles into patients’ skin opens the doors to significant risk and potential for lawsuits. Acupuncturist Insurance protects your practice when one of these stressful scenarios occur by alleviating costs, time, and managing your reputation.
An acupuncturist places acupuncture needles into specific anatomic sites to improve the body's functions and promote self-healing.
What does Premises Liability mean for an Acupuncturist?
The most common lawsuit against acupuncturists are customers who slip, fall or sustain injuries while on the business property. As acupuncturists, you are expected to protect customers from hazards, even those you know nothing about. Premises Liability is a policy that offers bodily injury and property damage coverage related to the ownership or maintenance of business premises.