Liability & Malpractice Insurance for Counselors

Health professionals in this industry diagnose and treat disorders such as mental, behavioral, and emotional issues brought about by stress or substance abuse. These professionals may practice privately or in facilities such as hospitals.

It is important for counselors to have an insurance because you provide professional advice to your customers. Mistakes in your judgment can cause huge financial losses to customers and then your business. Your insurance will help you cover all the risks.

Counselors face plenty of risks and without insurance, in place, you'll end up losing a lot of money. Here are some risks counselors can face:

• The advice you gave to your customer goes against what they were hoping for. This results in your customer losing more money. They could file charges against your business for failing to deliver what was promised.
• While driving to your customer, you are involved in an accident. You'll pay for medical fees, vehicle repairs, settlement fees, and other fees if it is proven that you are at fault.
• Your employees could become sick or injured at work. You'll be responsible for medical or rehabilitation fees. And if the employee considers that medical compensation is not enough, they could file an employer malpractice claim.

The cost of insurance for counselors is determined by the type of your business, the number of employees you have, your business properties and many other factors. Without taking these into account, below are the average costs of an insurance policy:

• General Liability costs $500 in annual premiums.
• Professional Liability insurance costs $900 in annual premiums.
• Commercial Auto costs $900 in annual premiums.