Your audiology practice helps patients manage and treat symptoms of hearing, which can result in language problems that speech therapists must treat. Audiologist insurance is a policy that can protect you from the financial burdens of doing business, like lawsuits, injuries, and legal judgments. This article will cover standard policies you may want as part of your audiologist insurance policy.
| CoverWallet | NEXT (Best) | Thimble | Hiscox | The Hartford | |
|---|---|---|---|---|---|
| Per occurrence limit | $1,000,000 | $1,000,000 | $1,000,000/$2,000,000 | $2,000,000 | $1,000,000/$2,000,000 |
| Aggregate limit | $2,000,000 | $2,000,000 | $1,000,000/$2,000,000 | $2,000,000 | $1,000,000/$2,000,000 |
| Products and completed operations aggregate limit | $2,000,000 | $1,000,000 | $2,000,000 | $1,000,000 | $1,000,000 |
| Advertising injury coverage aggregate limit | $1,000,000 | $1,000,000 | $2,000,000 | $1,000,000 | $1,000,000 |
| Tenant’s legal liability coverage limit | $300,000/$1,000,000 | $300,000 | $100,000 | $100,000 | $1,000,000 |
| Waiver of subrogation included? | Yes | No | Included | Can be included | No |
| Hired/non-owned auto liability coverage included? | Yes | No | No | Can be included | Can be included |
| Equipment breakdown floater included? | No | Yes | Yes | Can be included | Can be included |
| Can you get a certificate of insurance online? | Yes | Yes | Yes | Yes | Yes |
| Name additional insureds? | Yes | Yes | Yes | Yes | Yes |
| Deductible | $0 | $0 | $0 | $0 | $0 |
The general liability policy of your audiologist insurance package covers third-party claims of injury and property damage. Some examples of coverage are listed below.
One of your audiologist patients trips while getting examined and requires knee surgery
A patient brings an electronic device to your audiologist's office, which gets damaged
This audiology liability insurance could also benefit from add-ons. Some are outlined below:
Employment practices liability–Covers employee claims of discrimination, workplace harassment, wrongful termination, and other workplace-related claims
Cyber liability–Protects your audiologist medical practice from the financial cost of a cyberattack or data breach
Excess liability–Extends the protection of your existing general liability policy to get a higher coverage amount than you could generally get
Your audiologist general liability policy will have an average coverage limit of $1 million per occurrence and $2 million in total aggregate across the policy lifetime.
No. General liability insurance will not cover acts of intentional damage. Many insurers will spell out this exemption in the policy language as “intentional acts of the insured.”
| CoverWallet | NEXT | Thimble (Best) | Hiscox | The Hartford | |
|---|---|---|---|---|---|
| Per occurrence limit | $1,000,000 | $1,000,000 | $1,000,000/$2,000,000 | $1,000,000 | $1,000,000 |
| Aggregate limit | $2,000,000 | $2,000,000 | $1,000,000/$2,000,000 | $1,000,000 | $2,000,000 |
| Name additional insureds? | Yes | Yes | Yes | Yes | Yes |
| Waiver of subrogation included? | Yes | No | Yes | Can be included | No |
| HIPAA coverage included? | No | No | No | No | No |
| Sexual misconduct coverage included? | No | No | No | No | Can be included |
| License defense coverage included? | No | No | No | No | Can be included |
| Deductible | $500 | $500 | $500 | $50/$10,000 | $500 |
An audiologist covered by insurance will want to ensure he or she has a comprehensive malpractice policy. This protects your business from costs like legal defenses, court fees, and lawsuits stemming from accusations of negligence and oversights. Everyday situations can include:
A patient accuses you of failing to deliver a promised audiologist service
You make a mistake in administering care that causes a patient an injury or other damage
Additional insured–Allows you to add other parties to your malpractice insurance policy
Excess liability–Extends the coverage limits of an already existing malpractice policy
The coverage limit for audiologist malpractice insurance is between $100,000 and $1 million and $1 million and $3 million for all claims.
Certain factors like the location of your practice, insurance claim history, number of hours worked, and the insurer you choose can all affect your audiologist's malpractice insurance cost. This means you will want to research to ensure you get the best price for ideal coverage.
Get all the best quotes from leading providers in a click of a button!
| CoverWallet | NEXT (Best) | Thimble | Hiscox | The Hartford | |
|---|---|---|---|---|---|
| Building coverage limit (minimum) | $50,000 | $260,000 | $25,000/$500,000 | $25,000 | $60,000 |
| Contents coverage limit (minimum) | $50,000 | $22,000 | $25,000/$500,000 | $25,000 | $60,000 |
| Outdoor signs | Excluded | $2,500 | Excluded | Excluded | Excluded |
| Accounts receivable | Excluded | Excluded | $5,000/10,000 | Included | Excluded |
| Money and securities | Excluded | $2,500 | $1,000 | Included | Excluded |
| Lock and keys | Excluded | $2,500 | Excluded | Excluded | Excluded |
| Business interruption floater | Excluded | Included | Included | Included | Excluded |
| Equipment breakdown floater | Excluded | Included | Excluded | Excluded | Excluded |
| Inland marine insurance floater | Excluded | Excluded | $10,000 | Excluded | Excluded |
| Employee dishonesty floater | Excluded | $5,000 | $2,500 | Included | Excluded |
Audiologist insurance may include a commercial property policy if you have business premises. This policy protects your commercial building and the property contained within it. Examples of coverage include:
Your office is vandalized with graffiti, and you need help removing it
A fire occurred near your office and caused substantial damage to the building
Equipment breakdown–Protects equipment from internal damage like a mechanical or electronic failure. This policy will not cover damage from poor maintenance or wear and tear
Earthquake insurance–This helps repair damage to your business property when exposed to earthquakes, landslides, and mudslides
Commercial property insurance for audiologists will possess a coverage limit of $50,000 for your business building and $50,000 for the equipment inside it.
Yes, even though your leaseholder may have insurance coverage to protect the real estate you are leasing, you will still want commercial property insurance because it helps protect your business property from damage. A landlord’s insurance policy will only protect things in their interests and have no obligation to help you pay for any damages to your business.
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| CoverWallet | Thimble (Best) | NEXT | Hiscox | The Hartford | |
|---|---|---|---|---|---|
| General liability aggregate limit | $2,000,000 | $2,000,000 | $2,000,000 | $300,000 | $1,000,000/$2,000,000 |
| Commercial property coverage limit | $50,000 | $500,000 | $260,000 | $25,000 | $75,000 |
| Optional policies can be added? | Yes | Yes | Yes | Yes | Yes |
| Name additional insureds for free? | Yes | Yes | Yes | Yes | Yes |
| BOP discount? | Yes | Yes | Yes | Yes | Yes |
A business owner’s policy is a combination insurance policy with the protections of both general liability insurance and commercial property insurance. Examples of when to use its coverage include:
A customer falls, injuring both themselves and the audiologist’s equipment. Since you have BOP, you are covered for both situations
Someone breaks into your audiologist's office and destroys some electronics
Commercial crime–Protects your business from criminal actions of employees like forgery, robbery, theft, and cybercrime.
Non-owned auto liability–Covers the cost of accidents caused by an employee’s car or a hired commercial auto
A typical BOP for audiologists will have a general liability coverage of around $1 million and a commercial property coverage between $20,000 and $60,000.
| NEXT | Thimble | Hiscox | The Hartford | |
|---|---|---|---|---|
| Aggregate limit | $3,000/$10,000 | $2,500/$5,000 | $15,000/$25,000 | $5,000-$10,000 |
| Covers hired and borrowed equipment? | $3,000/$10,000 | $2,500/$5,000 | No | Yes |
| Miscellaneous equipment also covered? | $5,000/$10,000 | No | Yes | Yes |
| Offered as an endorsement to general liability insurance? | Yes | Yes | Yes | Yes |
| Deductible | $500 | $500 | $0 | $0 |
Audiologists use tools and equipment insurance because it can provide financial security to the tools they use in their practice. Examples of coverage include:
A piece of audiologist equipment gets damaged from a fire within your office and must be replaced
A thief steals one of the expensive medical tools you need to provide services
Flood insurance–This policy can be a nice companion to protect your equipment from flood waters
Many tools and equipment insurance policies offer coverage between $5,000 and $20,000.
Yes. Audiologists may occasionally need to travel to meet their patients if they live in remote locations and cannot seek treatment themselves. Tools and equipment insurance can help protect your tools even when used outside of your own clinical setting.
Workers' compensation insurance protects the employees of an audiologist when they get sick or injured during the course of their employment. Examples of coverage may include:
One of your employees develops carpal tunnel syndrome from their job, which limits their ability to work
An employee slips at the office and is temporarily unable to work due to the injury
Yes, many workers comp policies include employer’s liability protection. This policy will protect the employer from employee lawsuits that result from injuries and unsafe work conditions.
No, workers are entitled to full medical coverage for their work injuries or illnesses from their employer or workers comp insurance carrier. Ensure that if an employee is getting medical treatment, they don’t pay because the payment is supposed to be worked out between the healthcare provider and the insurer.
Audiologists can use excess liability insurance to extend the coverage limits of an existing policy. Suppose your general liability insurance only provides $1 million, and a $2 million lawsuit is filed. In this case, excess liability insurance will cover the remaining amount.
Excess liability policies typically extend the limits of only one underlying policy, while umbrella insurance will provide broader coverage and typically applies to multiple insurance policies.
| Cost per Month | Cost per Year | Deductible | |
|---|---|---|---|
| General liability insurance | $28 | $336 | $0-$500 |
| Malpractice insurance | $35 | $420 | $500-$1,000 |
| Excess liability insurance | $39.00 | $468 | $500-$1,000 |
| Commercial property insurance | $44 | $528 | $1,000-$2,000 |
| Business owner's policy | $68 | $816 | $1,500 |
| Tools and equipment insurance | $41 | $492 | $500-$1,000 |
| Commercial auto insurance | $50 | $600 | $500-$1,000 |
| Workers compensation insurance | $76 | $912 | $2,500-$5,000 |
The average audiologist insurance cost is $28 per month or $336 per year for a $1 million general liability policy. Factors that affect premiums are claims history, business history, policy limits, and more. Here’s a table showing the cost of a $1 million general liability coverage from the best audiologist insurance companies:
| Cost per Month | Cost per Year | Best for | |
|---|---|---|---|
| NEXT | $15 | $180 | Best overall; Fastest general liability insurance for audiologists |
| The Hartford | $18 | $216 | Workers compensation insurance for audiologists |
| CoverWallet | $20 | $240 | Comparing audiologist insurance quotes online |
| Tivly | $22 | $264 | Comparing audiologist insurance quotes over the phone |
| Thimble | $24 | $288 | On-demand coverage for audiologists |
| Hiscox | $26 | $312 | Worldwide coverage for audiologists |
Get all the best quotes from leading providers in a click of a button!
Here are some of the companies to consider working with. Read some of the reviews below to know their pros, cons, and average rate for a $1 million general liability policy.
Best overall
Issues an online proof of insurance instantly
Fastest general liability insurance for audiologists
Great customer service and reputation
Excellent rates
Outstanding value for money
Get a 10% discount if you buy two or more policies
Couldn’t find any
NEXT is an excellent insurance provider that was founded in 2016. Despite their newer start date, they have earned an A- rating for financial security with AM Best. They also boast a B+ rating from the Better Business Bureau. Audiologists will find an excellent selection of policies to protect their practice in the face of unexpected events.
Best for: Best overall; Fastest general liability insurance for audiologists
Average cost: $15 per month
Our rating: 10/10
Has served over one million small business customers
Renowned company for workers compensation insurance
Quote online or through an agent
Limited add-ons to general liability insurance
The Hartford is a well-established insurance company that is perfect for smaller businesses. They offer component policies of your audiologist insurance like general liability, workers comp, and business owner’s policy. The company also has crafted policies that are perfect for the healthcare industry. One highlight is their insurance products which can cater to outpatient facilities.
Best for: Workers compensation insurance for audiologists
Average cost: $18 per month
Our rating: 10/10
Excellent platform for comparing insurance options
Offers healthcare malpractice insurance
Easy online policy management
Not an insurance company but an insurance broker
CoverWallet offers competitive rates and policies for audiologists. They have easy-to-fill-out forms and quick quotes from multiple insurers at once. You can manage all of your business insurance policies online in one place.
Best for: Comparing audiologist insurance quotes online
Average cost: $20 per month
Our rating: 10/10
Responds quickly
A partner of many reputable insurance companies
Helps you find the best company at the right price
You need to talk to a representative for a quote
Tivly is another insurance platform that offers a decent selection of policies from over 200 different providers. They have an A rating from the Better Business Bureau and offer many policies outlined in this article. Tivly prides itself as solution-oriented and will work with you to find areas where you need coverage the most. Call now to compare quotes over the phone.
Best for: Comparing audiologist insurance quotes over the phone
Average cost: $22 per month
Our rating: 10/10
Scales your insurance needs with your growing business
Numerous add-ons to general liability insurance
Quickly issues an estimate of your rates
Some customers think the streamlining process results in products that are too simple
Thimble has quick and affordable policies that you can purchase quickly. They provide resources like an insurance glossary for first-time buyers and boast a pleasant experience. Thimble has an A+ score with the Better Business Bureau, which speaks to its excellent track record of resolving customer claims and disputes.
Best for: On-demand coverage for audiologists
Average cost: $24 per month
Our rating: 10/10
Worldwide coverage
Dedicated claims representatives
14-day money-back guarantee
BOP policy is only available in 43 states currently
Hiscox has personalized policies and takes their time to ensure you are happy with every detail of your coverage. Their website has a dedicated section for audiologists to help them understand which policies are important and why. The company offers worldwide coverage if you file the claim within the US or Canada. Overall they are an excellent pick for audiologists with the time to iron out the details of their insurance protection.
Best for: Worldwide coverage for audiologists
Average cost: $26 per month
Our rating: 10/10
1 / 5
Use anyone except Employers. Period. They are non-transparent and shameful. After I complained long enough to warrant a call from a supervisor, the supervisor called back from a PRIVATE NUMBER (no caller ID), left a message that they are not reversing their decision (without any communication with me), and failed to leave a phone number for me to call back. She was hiding! They also fact find via email and phone calls, which is terrific for speed and communication. However, after setting a precedence of email or phone calls, they send time sensitive information via email, without any heads up... they are hoping you miss it and forfeit via expiration. Evil policies. Go elsewhere.
1 / 5
This place is an absolute joke of a company and should be ashamed of the way they conduct business. I was hurt on the job at the end of July and it took them just shy of 7 weeks to issue out a paycheck to me. Yes the amount was back dated but still. Not many have the luxury of not receiving a paycheck for almost 2 months. To top it all off, the original adjuster marked me down for the wrong state which caused a problem from the get go, I've had 3 different adjusters now since each one can't seem to figure out the simplicity of my claim. All my paperwork which includes, my job, house, and drs visits all are from the same state and city but yet some how I have been filed under a completely different state 1500 miles away. They do not answer your phone calls or emails no matter how many you leave. I've had to escalate my frustrations to the supervisors of each of these individuals in order to even get some kind of response. I've had more communication and information given to me about my claim from the customer service representatives then the actual adjusters.......... please tell me how that works?! A serious overhaul needs to happen here in order to serve your clients the way they deserve to be taken care of. 10/10 do not recommend this company to a single soul on earth
1 / 5
I have never had the displeasure of working with a more incompetent and disrespectful person in my life. I’m an injured worker and the adjuster that was assigned to my case was named Carrie Furgeson. In the past 6 weeks that I’ve been injured and out of work I have only been able to get ahold of her twice, not for lack of trying. I have left countless voicemails, countless emails, and she ignores them all. When I am finally able to get ahold of her I’m greeted with terrible customer service. She is rude, she talks over me and I’m hardly able to get a word in edgewise. She spelled my name wrong on my documents even after I spelled it for her properly countless times, this caused a whole new issue with my bank. I have bill collectors from the hospital calling me demanding payment and Carrie Furgeson won’t do a single thing to help, or to get them paid. All of my documentation is in Colorado, my job is in Colorado, my address is in Colorado, all my Dr offices and appointments have been in Colorado and Carrie still managed to hold my claim because she wasn’t sure what state she needed to file it under. It’s been 6 weeks since my Injury and my company still hasn’t received the wage paperwork to fill out so they can get me my correct wages. When she’s not ignoring me she’s answering my questions with “I don’t know” well I don’t know how she got this job, because apparently she doesn’t know anything about it. She is a disgusting morose individual inside and out and I genuinely wish her the worst in all of her future endeavors. I highly recommend you don’t use this company. Please if you are a business owner and your looking into this company please don’t use them. I’m sure they have the cheapest payment and that’s why companies use them in the first place, but you will be doing your employees a grave disservice by forcing them to venture into this absolute dumpster fire of a company. I would rate 0/5 if possible but 1 was the lowest I was allowed.
5 / 5
Their general liability insurance purchase process is simply the best online experience I've ever had in my life!
5 / 5
As long as they cover your line of business, you're literally covered! best rates, best coverage, best online experience, best professionals, can't be happier that I chose them!
Not all those who wander are lost.
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