Insurance for massage therapy may be a new concept to most people. However, massage insurance is something you cannot afford not to have if you run a massage business. Why do you need insurance for your business? Well, it’s all for protection. Many threats can cause the closure of your business. Lawsuits against your business can lead to financial loss, the damage of your reputation. In some cases, you can even lose your assets.
While most people are unfamiliar with what massage insurance is all about, they might have a single clue about where to start. It is, therefore, essential to understanding the different types of massage therapist insurance available to ensure your business stays protected.
- Business property liability
This insurance package will protect your business against property damage that can be caused by either fire or vandalism. A fire might occur at your massage business, causing damage to your property, bodily harm to your clients and employees, or even property damage to the neighboring business if it spreads.
If you have business property liability insurance, you will be covered in case of any claims resulting from the incident.
- General liability insurance
As the name suggests, the coverage is for general accidents. These are the accidents that may occur to your clients before, during, and after receiving your services. Clients might trip on the staircase and fall, resulting in fractures. They can also slide on your slippery floors and get injured.
Any injured customer is likely to file a claim for negligence. This could end up in the courtrooms or have your reputation ruined in the industry. The two outcomes can quickly lead to the downfall of your business. Having general liability insurance can protect your business from such eventualities.
- Professional liability
Your massage therapists might cause injury as they give services to your clients. As they provide the service, they might cause pain in a specific part of the body of the patient. A lawsuit might result from that. If claims are made, it might cost your business both its reputation and money.
Personal liability insurance is meant to cover professionals against injury, in this case, and errors that might occur as they provide their professional services. This ill protect third parties from significant financial losses. Since they are in a link with your business, the damage might extend to your business.
These three are the main types of insurance that you will need for your massage business. You can decide to get one or all of them for your convenience. That is, depending on your business needs. It’s important to note that the three types of massage insurance cover a wide range of issues, so you don’t have to worry about anything.
They include lost income, medical costs, structural damage, property damage, and legal fees.
It’s also vital to have an in-depth discussion with your insurance company to better understand what is included in their policies before you get on-board. This is to ensure that all your interests are covered. With insurance, you can conduct your business worry-free.