Cryotherapy Insurance: Cost & Quotes From $40/mo

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Some skin diseases and illnesses are too complex for mainstream medicine to address. And so, some individuals go to cryotherapy centers instead of cosmetic centers. You want to have insurance when running a cryotherapy center. A cryotherapy business insurance might have what you need. Read on to know what are included, their coverage limits, the cost of premiums, and more. 

Do Cryotherapy Centers Need Insurance?

Yes, cryotherapy centers need insurance coverage. This is so because there are a number of inevitable risks associated with the running of a cryotherapy center. Such risks may expose your business to serious financial debts, which may in turn cause you to close down or declare bankruptcy. Look for a packaged protection plan that offers general liability, professional liability, and other policies to make your cryotherapy covered by insurance. 


General Liability Insurance for Cryotherapy Centers

CoverWallet  NEXT (Best) Thimble  Hiscox The Hartford
Per occurrence limit  $1,000,000 $1,000,000 $1,000,000/$2,000,000 $300,000/$1,000,000 $1,000,000/$2,000,000
Aggregate limit  $2,000,000 $1,000,000/$2,000,000 $1,000,000/$2,000,000 $300,000/$2,000,000 $1,000,000/$2,000,000
Products and completed operations aggregate limit  $2,000,000 $1,000,000 $1,000,000 $1,000,000 $1,000,000
Advertising injury coverage aggregate limit  $1,000,000 $1,000,000 $1,000,000 $1,000,000 $1,000,000
Tenant’s legal liability coverage limit  $100,000 $100,000 $5,000 $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 Excluded Can be included Can be included
Equipment breakdown floater included? No  Yes Yes Can be included Can be included


This cryotherapy business insurance protects you from incurring any costs that arise from the use of the product and services your business offers to a third-party. The costs covered under this policy include:

  • Unintentional third-party bodily injuries

  • Unintentional third-party property damages

  • Copyright infringement lawsuits

  • Reputational harm and personal injury lawsuits

General liability insurance does NOT cover your employees or any other individual on your cryotherapy center’s payroll.


Coverage Limits for General Liability Insurance for Cryotherapy Centers

There are two types of coverage limits under this policy. The per occurrence limit ranges from $1,000,000 and above and the aggregate limit ranges from $2,000,000 and above.


Add-Ons for General Liability Insurance for Cryotherapy Centers

  • Umbrella liability insurance–If your cryotherapy center is located in high-risk areas, then it would be best if you purchased this add-on. You may use it to offset any financial burdens you may be subjected to following the exhaustion of the coverage limits of your primary insurance policy

  • Product liability insurance–If your cryotherapy centers manufacture and sell products, then it would be of great benefit to you if you purchase this add-on. Under this add-on, you are protected from being financially liable for third-party bodily injuries and property damages caused by the use of products affiliated with your business

Errors and Omissions Insurance for Cryotherapy Centers

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


This is commonly known as professional liability insurance. Errors and omissions insurance protects your cryotherapy centers against claims of acts of negligence during the provision of your business’ professional services. The claims you are alleged of committing must be established to be unintentionally committed before an insurer pays you for the claim. Some of the claims covered under this policy include:

  • Provision of incorrect or misleading advice

  • Breach of contract

  • A violation of good faith

  • Inability to meet the set deadline

This policy doesn’t cover your business from the following claims

  • Bodily injury liability

  • Property damage liability

  • Cyber liability

  • Employees’ work-related injuries and illnesses

  • Unauthorized acquisition of patents and trade secrets of another business entity

Coverage Limits for Errors and Omissions Insurance for Cryotherapy Centers

The coverage limits under this cryo insurance policy range between $250,000 to $1,000,000. The professional risks your cryotherapy center’s business is exposed to play a huge role in determining how much an insurance carrier will pay you after the occurrence of the insured risk.


Add-Ons for Errors and Omissions Insurance for Cryotherapy Centers

  • Defenses outside limits coverage–Upon purchasing this add-on, your chosen insurer will pay for any extra defense expenses that exceed your primary policy coverage limits

  • Prior acts coverage–Under this add-on, you are provided coverage for any claims that arise from incidents that already took place before your errors and omissions insurance was in effect

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Commercial Property Insurance for Cryotherapy Centers

CoverWallet NEXT (Best) Thimble The Hartford Hiscox
Building coverage limit (minimum) $50,000 $330,000 $25,000/$500,000 $60,000 $25,000
Contents coverage limit (minimum) $50,000 $35,000 $25,000/$500,000 $60,000 $15,000
Outdoor signs Excluded $2,500 Excluded Excluded Included
Accounts receivable  Excluded Excluded $5,000/$10,000 Excluded Included
Money and securities Excluded $2,500 $1,000 Excluded Included
Lock and keys  Excluded $2,500 Excluded Excluded Included
Business interruption floater Excluded Included Included Excluded Included
Equipment breakdown floater Excluded Included Excluded Excluded Included
Inland marine insurance floater Excluded Excluded $10,000 Excluded Excluded
Employee dishonesty floater Excluded $5,000 $2,500 Excluded Excluded


Under this policy, you are protected from the financial burden you may be subjected to in the event your commercial building (both rented or owned) and the property inside get destroyed by the insured peril. Fire, theft, winds, lightning, and vandalism are the most commonly insured perils under this cryo insurance policy. Commercial buildings destroyed or damaged by floods are not covered under this policy.


Coverage Limits for Commercial Property Insurance for Cryotherapy Centers

It’s from $50,000 and above.The size and nature of your cryotherapy center’s business activities , the risk you are exposed to, and the measures you have put in place to counteract risks are some of the factors your insurer of choice will use to determine your coverage limits under this policy.


Incidents When You Can Use This Insurance for Cryotherapy

  • When your rented or owned commercial buildings get destroyed by fire, winds, lightning, and acts of vandalism

  • When your commercial building landscaping features such as fences get destroyed by the insured perils

  • When your physical assets such as furnishings, inventory, and office equipment get damaged by the insured perils

Add-Ons for Commercial Property Insurance for Cryotherapy Centers

  • Extra expenses coverage–Under this add-on, you are compensated for the costs you incur due to temporarily relocating your business to another location following the occurrence of an insured peril that is covered under this policy

  • Flood insurance–This add-on shields you from incurring the costs of replacing and repairing your commercial buildings and other physical assets that are destroyed or damaged by floods

  • Terrorism insurance–You can use this add-on in the event your commercial buildings and other physical assets get damaged or destroyed due to acts of terrorism

Business Owner’s Policy for Cryotherapy Centers

CoverWallet NEXT (Best) Thimble  The Hartford Hiscox
General liability aggregate limit  $2,000,000 $1,000,000/$2,000,000 $1,000,000/$2,000,000 $1,000,000/$2,000,000 $300,000/$2,000,000
Commercial property coverage limit  $50,000 $330,000 $25,000/$500,000 $75,000 $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

The business owner’s policy for cryotherapy centers is a business insurance that merges the commercial general liability, the business interruption policy, and the commercial property insurance into one policy.

Under this policy, your cryotherapy center’s business is protected from any third-party bodily injury and property damage claims. You are also protected from incurring any legal costs in the event you get served with a lawsuit alleging your business of reputational harm, personal injury, and advertising injury.

And in case your commercial buildings and the assets found in them get destroyed by fire, wind, theft, or vandalistic acts, your insurer will provide you with financial aid for rebuilding and replacing the destroyed business assets. The BOP for cryotherapy centers also compensates you for lost income after the occurrence of an insured peril that renders your business incapable of performing its income-generating activities.


Coverage Limits for Business Owner’s Policy for Cryotherapy Centers

It ranges between $250,000 to $1,000,000 for the liability coverage and $25,000-$50,000 for the commercial property coverage. The size and the nature of your cryotherapy centers business are some of the coverage limits determining factors under this essential cryo insurance policy.


Add-Ons to This Cryotherapy Insurance

  • HNOA coverage–Hired/non-owned auto liability coverage can be added to a business owner’s policy. This will cover third party medical costs if a vehicle you hired or borrowed causes an accident

  • Equipment breakdown coverage–This add-on to BOP will cover the resulting expenses in case an electrical or mechanical breakdown causes some damage to business equipment

Tools and Equipment Insurance for Cryotherapy Centers

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


This cryo insurance policy protects you from incurring the costs of repairing or replacing your tools and equipment in the event they get lost, stolen, or unintentionally damaged in your workplace. Insurers only provide coverage to tools and equipment that are moveable and are less than 5 years of age. Your employee’s working gear is also covered under this policy.


Coverage Limits for Tools and Equipment Insurance for Cryotherapy Centers

The coverage limit under this insurance policy is approximately $5,000. This coverage limit may go up or down depending on the type of tools and equipment you use and their actual market value.


Add-Ons for Tools and Equipment Insurance for Cryotherapy Centers

  • Rental reimbursement coverage–Rental reimbursement coverage will cover the resulting extra expenses if you need to hire or rent business equipment while the one you own is being repaired

  • Inland marine coverage–Under this add-on, you are protected from incurring any costs of replacing or repairing your cryotherapy tools and equipment in the event they get damaged, lost, or stolen during transportation

Workers’ Compensation Insurance for Cryotherapy Centers

Workers’ compensation insurance is a cryo insurance policy that provides your employees with disability and dismemberment benefits, pays for any medical expenses, and ongoing treatment care costs when work-related bodily injuries and diseases are sustained. 

Under this policy, your employees can be paid a certain percentage of their lost wages. And in the event, your employee dies following a job-related injury or illness, his/her named beneficiaries are provided with death benefits. Such death benefits include burial fees and in other cases, the beneficiary can be paid a portion of the deceased’s salary for a stipulated period as defined in the policy.


Coverage Limits for Workers Comp Insurance for Cryotherapy Centers

There is no set coverage limit on how much an insurance carrier will pay you for this cryotherapy business insurance.


Excess Liability Insurance for Cryotherapy Centers

Excess liability insurance provides you with additional financial coverage in the event your primary policy coverage limits get exhausted. If your errors and omission insurance limit is $300,000 and your client sues you for $450,000, an excess liability insurance will be used to offset the $150,000 that’s not covered under your underlying errors and omission insurance. It’s essential that you purchase this cryo insurance if you deal with clients who require more insurance coverage than your primary policy provides.


Coverage Limits for Excess Liability Insurance for Cryotherapy Centers

The coverage limits usually range between $1,000,000 to $10,000,000. This coverage limit is not fixed, since your chosen insurance carrier may increase or decrease it depending on your cryotherapy center’s business needs and the limits available under your primary insurance policies.

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Cryotherapy Insurance Cost

Cost per Month Cost per Year Deductible
General liability insurance $92 $1,104 $0-$500
Excess liability insurance $95 $1,140 $500-$1,000
Commercial property insurance $97 $1,164 $1,000-$2,000
Business owner’s policy $189 $2,268 $1,500
Tools and equipment insurance $96 $1,152 $500-$1,000
Commercial auto insurance $101 $1,212 $500-$1,000
Workers compensation insurance $113 $1,356 $2,500-$5,000


The average cryotherapy insurance cost is $92 per month or $1,104 per year for a $1 million general liability insurance. Factors that affect the cost of premiums are claims history, business history, location, deductibles, policy limits, and revenues. Here’s a table showing the cost of a $1 million general liability insurance from the best cryo insurance companies:

Cost per Month  Cost per Year Best For
NEXT $75 $900 Small-sized cryotherapy centers looking for online affordable cryo business insurance coverage
CoverWallet $80 $960 Cryotherapy centers in need of customizable coverages
Hartford $85 $1,020 Established and Large-scale cryotherapy centers which own high-value assets and are in need of comprehensive coverage
Tivly $90 $1,080 Newbie cryotherapy centers in need of basic and straightforward insurance policies
Thimble $100 $1,200 Cryotherapy centers that operate seasonally
Hiscox $120 1,440 Cryotherapy centers which are located in areas prone to the occurrence of commonly insured risks

Compare Cheap Cryotherapy Insurance Quotes Online

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Best Cryotherapy Insurance Companies

Here are some of the best companies you might want to work with. Read some of the reviews below to know their pros, cons, and average rate for a $1 million general liability insurance. 


NEXT Cryotherapy Insurance

Pros

  • Best overall

  • Issues an online proof of insurance instantly

  • Fastest general liability insurance for cryotherapy centers

  • Great customer service and reputation

  • Excellent rates

  • Outstanding value for money

  • Get a 10% discount if you buy two or more policies 

Cons

  • Couldn’t find any

NEXT is a digitally operated insurance company that was established in 2016. This privately owned insurance carrier has its headquarters located in Palo Alto, USA. The AM Best has independently rated NEXT as an A insurer. NEXT specializes in providing affordable and customizable business insurance policies to small-scale business owners.

Best for: Best overall; Fastest general liability insurance for cryotherapy centers

Average cost: $75 per month

Our rating: 10/10


CoverWallet Cryotherapy Insurance

Pros

  • HNOA coverage automatically included in general liability insurance

  • You can use its platform to compare the different cryo insurance policies provided by its multiple partnered insurance carriers

  • Cancel your coverage anytime

Cons

  • Cryotherapy business insurance policies are not underwritten in-house since CoverWallet is an insurance broker

In November 2019, AON acquired this competitive online insurance company. The headquarters of CoverWallet is at 100 Avenue Floor 16 New York, USA. Through its partnered insurance carriers, this company that earned an A- rating from BBB provides its clientele with over 30 types of cost-effective and easy-to-claim business insurance policies.

Best for: Comparing cryo insurance quotes online 

Average cost: $80 per month

Our rating: 10/10


The Hartford Cryotherapy Insurance

Pros

  •  Its auto policies have a lifetime renewability

  • If you are over 50 years of age you qualify for its policies’ discount incentives

  • It provides you with a wide range of cryo insurance policies

Cons

  • Limited add-ons to base policies

The Hartford was founded 212 years ago. Due to impeccable customer services and its ability to tailor its premium rates to suitably meet the economic demands of its clients, the AM Best and the BBB have rated this insurance industry-leading company an A+

Best for: Established and large-scale cryotherapy centers which deal in or are in possession of costly business assets

Average cost: $85 per month

Our rating: 10/10


Tivly Cryotherapy Insurance

Pros

  • Compare quotes over the phone

  • A partner of many reputable insurance companies

  • It matches you with insurance policies that suit your cryotherapy business needs

Cons

  • You need to call to get a quote

Tivly is an online insurance agency that has partnered with over 200 insurance carriers to provide its clientele with tailorable and affordable coverages. Despite it not underwriting its policies and claims, AM Best has rated Tivly as an A+ digital insurance agency. Call now to compare quotes over the phone. 

Best for: Comparing cryotherapy insurance quotes over the phone 

Average cost: $90 per month

Our rating: 9/10


Thimble Cryotherapy Insurance

Pros

  •  It’s accredited by the Better Business Bureau

  • Numerous add-ons to general liability insurance

  • It can provide you with temporary coverage

Cons

  • You can’t reach customer service by calling

The AM Best rates this insurance agency an A, whereas the Better Business Bureau rates this online insurance company an A+. Thimble is backed by the Markel Insurance company. Its ability to provide its customers with 24/7 claims reporting services, and flexible and temporary insurance coverages has made this BBB-accredited member an insurance agency to reckon with.

Best for: Cryotherapy centers that operate seasonally and are in need of temporary or on-demand coverage

Average cost: $100 per month

Our rating: 9/10


Hiscox Cryotherapy Insurance

Pros

  • Its coverages are available in 49 states of America

  •  It underwrites its own policies and claims

  • Its an A+ AM Best rated insurance company

Cons

· You cannot benefit from its policies if you live in Alaska

As of 2023, Hiscox, which is an Anglo-Bermudan insurance carrier, was estimated to have a net worth of $45,480.522. This internationally recognized insurance company is owned by Robert Ralph Hiscox. Despite having been founded in 1910, Hiscox up to date doesn’t provide its coverage to the state of Alaska.

Best for: Cryotherapy centers located in areas prone to the occurrence of the insured risk/peril

Average cost: $120 per month

Our rating: 9/10

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