Speech therapy is a vital service for individuals who experience communication and swallowing disorders. As a speech therapist, it is essential to protect yourself from potential liabilities that may arise from your practice. This is where speech therapist insurance comes in. Having the right insurance coverage can protect you. Moreover, customers will opt for speech therapy covered by insurance. It's because insurance provides a guarantee that they can get something in case something goes wrong.
In this article, we will cover all aspects of speech therapist insurance. Know the inclusions, the coverage limits, and the best companies.
| 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 |
General liability insurance covers claims of bodily injury, property damage, and advertising injury. Speech therapists can use general liability insurance when faced with a liability claim due to an accident or incident that occurred during therapy sessions, such as a patient slipping and falling during a session. The costs covered by general liability insurance for speech therapists include legal fees, settlements, and judgments.
The coverage limit of general liability insurance for speech pathologist ranges from $1-$2 million per incident and $2 million-$3 million aggregate.
Add-ons for general liability insurance can include:
Non-owned and hired auto liability–Grants coverage for bodily injuries or property damage that a borrowed or hired vehicle deals to third parties
Excess liability insurance–Excess liability insurance grants an extra amount of coverage in case a claim exceeds the amount of coverage provided by general liability insurance
You don’t need to purchase this coverage since it’s not mandated by law. Nonetheless, to become a speech pathologist covered by insurance, protection usually begins by purchasing a general liability policy. Moreover, some clients or facilities may require speech therapists to have this insurance before working with them.
| 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 |
Also known as speech therapy malpractice insurance, this protects speech therapists from claims of negligence or errors in their practice. As speech therapists work with clients to improve communication, errors can result in million-dollar lawsuits. This can include claims of misdiagnosis, failure to diagnose, or failure to provide appropriate treatment.
Malpractice insurance for speech language pathologists provides financial protection in case of a malpractice claim or lawsuit. This insurance can also cover hiring an attorney or expert witness to defend the therapist in court.
Add-ons for professional liability insurance for speech language pathologists can include:
License defense coverage-Grants a $25,000-$50,000 coverage in case licensing boards conduct an investigation following a malpractice claim
Abuse and molestation coverage-This add-on allows professional liability insurance to cover claims for harassment, abuse, assault, and other related acts
The coverage limit of professional liability insurance is $1 million-$2 million per occurrence and $2 million-$3 million aggregate. Higher limits to this type of speech therapist liability insurance are available if you talk with the insurance company.
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 |
Commercial property insurance is an insurance policy that can help protect speech therapists from financial loss resulting from damage or loss of their business property. The policy can cover repairing or replacing the building, equipment, furniture, and supplies. Additionally, it can provide coverage for lost income as a result of renovation or relocation.
The costs covered by commercial property insurance for speech therapists typically include the following:
Reversing structural damage from fire, theft, vandalism, sinkhole collapse, vehicles, aircraft, wind, lightning, and other covered perils
Costs of repairing or replacing equipment and furniture damaged due to a covered event
Yes, there can be limitations or exclusions in a commercial property insurance policy that speech therapists should be aware of. Usually, commercial property insurance exclude coverage for earthquakes or floods. Normal wear and tear is another exclusion.
| 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 combines commercial property insurance and general liability insurance into a single package. This grants comprehensive protection at a rate cheaper than when you bought general liability and commercial property separately.
A business owner’s policy for speech therapists typically covers the costs of repairing or replacing business property damaged due to a covered event. Additionally, it can provide coverage for liability claims, such as if a patient is injured while visiting the therapist’s office.
Insurance providers offer add-ons to the business owner’s policy for speech therapists, such as professional liability insurance or cyber liability insurance. It’s also possible to include equipment coverage and HNOA coverage.
| 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 |
Tools and equipment insurance is a policy that provides coverage for the tools, equipment, and supplies that speech therapists use in their practice. This is available as a stand-alone policy or as an add-on to general liability or commercial property insurance.
Tools and equipment insurance can cover the cost of repairing or replacing tools and equipment that are damaged, lost, or stolen. It can also cover renting temporary replacement equipment if the therapist's equipment is being repaired.
The coverage limit for tools and equipment insurance can vary depending on the policy and provider. However, it typically ranges from $5,000 to $50,000.
Yes, there may be limitations or exclusions in the policy that speech therapists should be aware of. For example, the policy may not cover borrowed equipment. Additionally, there may be limits on coverage for certain types of equipment, such as high-end cameras or specialized medical equipment. It's important for therapists to carefully review their policy and understand the coverage and limitations.
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| Cost per Month | Cost per Year | Deductible | |
|---|---|---|---|
| General liability insurance | $37 | $444 | $0-$500 |
| Professional liability insurance | $50 | $600 | $500-$1,000 |
| Commercial property insurance | $85 | $1,020 | $1,000-$2,000 |
| Business owner's policy | $102 | $1,224 | $1,500 |
| Tools and equipment insurance | $45 | $540 | $500-$1,000 |
The average speech therapist insurance cost is $37 per month or $444 per year for a $1 million general liability insurance. Factors that affect premiums are revenue, location, business history, claims history, deductibles, and policy limits.
We have provided a cost and best-for table for speech therapist insurance companies. Use this as a reference to help you make an informed decision when selecting insurance for your speech therapy practice:
| Cost per Year | Cost per Month | Best For | |
|---|---|---|---|
| NEXT | $25 | $300 | Best overall; Fastest general liability insurance for speech therapists |
| CoverWallet | $35 | $420 | Comparing speech therapist insurance quotes online |
| The Hartford | $45 | $540 | Risk management tools |
| Tivly | $50 | $600 | Comparing speech therapist insurance quotes over the phone |
| Thimble | $60 | $720 | On-demand coverage |
| Hiscox | $70 | $840 | Liability insurance for speech therapists that offers worldwide coverage |
Get all the best quotes from leading providers in a click of a button!
A lot of companies claim to offer the best speech speech therapy coverage. We narrowed down the choices to these ones. Read some of the reviews below to know their pros, cons, and average cost for a $1 million general liability insurance.
NEXT Insurance offers a range of policies for speech therapists, including general liability and professional liability coverage
They offer customizable policies with flexible payment options.
NEXT Insurance is known for providing excellent customer service, with 24/7 phone or online chat support
Some policies may have higher deductibles.
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NEXT offers a range of insurance policies, including general liability, professional liability, and business owner's poNext Insurancelicies. The company has a B+ rating from the Better Business Bureau and an A- rating from AM Best. NEXT Insurance also offers 24/7 customer service and flexible payment options
Best for: Best overall; Fastest general liability insurance for speech therapists
Average cost: $25 per month
Our rating: 10/10
CoverWallet provides easy online quotes and comparisons from multiple insurance providers
They offer customizable policies tailored to the specific needs of speech therapists
CoverWallet is known for its user-friendly website and excellent customer service
Not an insurance company but an insurance broker
CoverWallet is an online insurance marketplace that helps small businesses find coverage. The company offers an online quotation platform where you can compare quotes of different insurance companies that cover speech therapists.
Best for: Comparing speech therapist insurance quotes online
Average cost: $35 per month
Our rating: 10/10
Hartford provides risk management tools to help speech therapists identify and mitigate potential risks.
They offer customizable policies tailored to the specific needs of speech therapists
Hartford is known for providing excellent customer service and comprehensive speech therapy coverage options
Limited add-ons to general liability insurance
The Hartford specializes in small business insurance and offers customizable policies for speech pathologist covered by insurance options, including general liability, professional liability, and business owner's policies. The company has a rating from the BBB and an A+ rating from AM Best. They also provide risk management tools to help speech therapists identify and mitigate potential risks.
Best for: Risk management tools
Average cost: $45 per month
Our rating: 8/10
Tivly offers customizable policies tailored to the specific needs of speech therapists
A partner of many reputable insurance companies
Tivly is known for providing excellent customer service, with 24/7 phone support
No online quotes
Tivly is an insurance broker offering small businesses customized policies. The company offers general liability, professional liability, and business owner's policies. Tivly has a 3.86/5 rating from the BBB.
Best for: Comparing speech therapist insurance quotes over the phone
Average cost: $50 per month
Our rating: 7/10
Thimble offers on-demand coverage, allowing speech therapists to purchase insurance for specific jobs or projects
They offer customizable policies with flexible payment options
Thimble is known for its user-friendly website and excellent customer service
No phone-based customer support
Thimble is an on-demand insurance provider that offers speech therapy coverage by the hour, day, or month. The company offers customizable policies for speech therapists, including general liability and professional liability policies. Thimble has an A+ rating from the BBB.
Best for: On-demand coverage
Average cost: $60 per month
Our rating: 7/10
Hiscox offers customizable policies tailored to the specific needs of speech therapists
They provide coverage for a range of professional liability risks
Hiscox is known for its comprehensive coverage options and excellent customer service
Online quoting not available all the time due to periodic site maintenance
Hiscox specializes in small business insurance and offers a range of policies, including general liability, speech pathologist malpractice insurance, and business owner's policies. The company has an A+ rating from the BBB and an A rating from AM Best.
Best for: Liability insurance for speech therapists that offers worldwide coverage
Average cost: $70 per month
Our rating: 9/10
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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