Acupuncturist Insurance: Liability, Cost & Quotes From $5

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For many years, acupuncture has proven to be a reliable method of alternative treatment. It treats common body ailments, including headaches and chronic pain. First practiced in eastern Asia, acupuncture is a complex and unique procedure requiring a highly qualified individual to perform. 

As an acupuncturist, you handle a high number of individuals that come to you for pain relief and treatment. While this practice is primarily considered an alternative treatment, it is highly effective, with evidence supporting its legitimacy and reliability. However, not all acupuncture procedures go as expected. In such cases, a client might file a claim against you. This is why it is crucial to have alternative therapy insurance. 

In this guide, we are going to thoroughly discuss acupuncturist insurance coverage. To give you detailed insights into it, we will discuss what insurance for acupuncturists covers and why you need it, as well as acupuncturist insurance costs and the best companies you can buy acupuncture business insurance from.

Acupuncture Liability Insurance

Acupuncture is a complex procedure that only certified professionals can perform. This is because acupuncture can turn out to be very invasive if not appropriately implemented. As an acupuncturist, you are at risk of possible lawsuits in case of any errors. Even if you don't make a professional error, you are still vulnerable to costly claims that could hurt your finances and career. Therefore, you need to put measures in place to protect your licensing and business. This is why you should get extensive acupuncture business insurance that covers your profession. 

Due to the highly controversial nature of acupuncture, you are vulnerable to claims and allegations of malpractice as a professional acupuncturist. Acupuncturist liability insurance exists to protect you against these allegations and lawsuits. In the rare occurrence of a professional error, this insurance policy will back you as a professional and protect your interests. Also, depending on the nature of your business, you can add chiropractor insurance, reflexology insurance, hypnotherapy insurance and aromatherapy insurance. Without business insurance coverage, you could suffer heavy financial losses.

What Acupuncture Liability Insurance Covers

Acupuncture liability insurance covers a wide range of claims; some of them include;

Negligence

When your client is not satisfied with your treatment, they could file a claim against you. The client may consult with a personal physical therapist who may inform them that their condition needed surgery and not acupuncture. In such a case, the patient may file a lawsuit against you for failing to diagnose their condition correctly. They may also sue you for failing to recommend the proper medications. However, acupuncture liability insurance will protect you in such cases.

Loss of Client Information

By mistake, the receptionist at your acupuncturist's office may misplace a file containing sensitive client information. Even though it might be an accident, the damage is already done, and you will have compromised your client's information. If the client files a claim against you for that reason,  your acupuncturist insurance policy will protect you. 

Bodily Injury

On a rainy day, a patient arrives at your acupuncture office for treatment. Due to the conditions, the patient slips and falls on your waiting room floor, breaking his ankle and damaging his expensive designer glasses. When this patient files a claim against you, acupuncturist insurance will protect you. 

Acupuncturist Insurance Cost

The average acupuncturist insurance cost is about $62 per month, or $744 per year. Yet, the cost of acupuncture insurance depends on the size of your practice, the policies you choose, and the risks you are exposed to. 

Generally, acupuncturist insurance cost estimates are derived from policies purchased by other practitioners. To give you an accurate estimate of acupuncturist insurance costs, here is a summary of how some top acupuncture insurance companies charge per month and annually. 

Best Acupuncturist Insurance Companies

Before getting an acupuncture insurance quote, it is essential to know some of the best companies you should consider. For that reason, we will highlight three of the top companies providing acupuncturist insurance and what their policies offer. 

CM & F Group Acupuncturist Insurance

This is an established insurance company that has been offering insurance cover for professionals since 1919. CM & F group has structurally adjusted to the changing healthcare sector and modified its insurance policies to suit healthcare practitioners. As of 2021, this insurance company insures over 100,000 healthcare professionals. Thanks to its comprehensive and innovative insurance policies, CM & F Group commands a loyal client base and enjoys a good reputation.

CM & F Group Policy Details

This insurance company offers both general and professional liability coverage for practitioners in the acupuncture field. They have a detailed acupuncture insurance policy covered and their Telemedicine Malpractice Insurance. You can choose a wide range of insurance covers, all of which protect you against damage claims.

Pros

• Quick claims responsiveness

• Monthly payments with no extra fees

• Tailored for acupuncturists

Cons

• Not available in some countries

Average cost: $65

Best for: Acupuncturists that need higher coverage.

Hiscox Acupuncturist Insurance

This is one of the most established insurance companies in the world. Hiscox insurance specializes in detailed and custom business insurance policies that you won't get from other insurance providers. Acupuncture is one of the fields that Hiscox covers. Even though this insurance company is based in the UK, you can enjoy their services in the US and many other countries. 

Hiscox Policy Details

With Hiscox insurance, you will enjoy three policies for acupuncturists. They include professional treatment liability insurance, public liability insurance, and employers' liability insurance. These covers will protect you against all sorts of claims against you. 

Pros

• Tailored cover

• You can buy it online in no time

• Quotes from as low as $15 per month

Cons

• The policy might not cover some claims

Average cost: $71

Best for: Established acupuncture businesses.

Holistic Insurance

Established in 2002, Holistic Insurance specializes in providing insurance cover for alternative treatment providers. The company insures over 30,000 therapists and alternative therapy providers in various countries. Holistic Insurance prides itself on its personalized services, and it aims to offer insurance cover to more diverse health practitioners. Its policies are also affordable, making it ideal for start-up acupuncturists. 

Holistic Insurance Policy Details

The company provides tailored insurance cover for acupuncturists. With Holistic, you will get reasonable-priced policies and access to professional and general liability coverage. The policy also covers completed operations and products insurance.

Pros

• Affordable

• Good customer service

• Monthly payments with no extra fees

Cons

• No tailored cover

Average cost: $53

Best for: Start-up acupuncturists