Massage therapists need similar insurance to the insurance that other businesses buy, although there are some differences in the cover that they require.
The main type of insurance they need is public liability insurance. This is also the type of insurance that needs to be tailored to the unique needs of massage therapists because standard public liability insurance could leave a massage therapist uninsured in the event of certain claims.
However, there are also other types of massage therapist insurance that they should consider.
Public liability insurance
Public liability insurance covers you if someone claims compensation from you because something you have done or failed to do has resulted in them being injured or damage to their property.
This type of insurance is important because compensation claims can be expensive to settle. A claim for serious injury such as a spinal injury can cost in excess of £250,000 by the time the legal fees and other associated costs and expenses have been added to the compensation award.
As well as paying the compensation awarded, your liability insurer will help you deal with the potentially complex legal arguments that can be involved in compensation claims by dealing with any claims on your behalf.
Financial loss cover
Standard public liability insurance cover only deals with claims that involve an injury or property damage. Claims for purely economic losses are not covered, so you need to ensure that your public liability insurance has a financial loss cover extension to address this potential gap in cover.
Treatment risk/malpractice cover
Another limitation of standard public liability insurance policies is that they do not cover compensation claims arising out of professional activities. This means that many of the claims that could be made against a massage therapist would not be covered. Adding a treatment risk or malpractice cover extension to the policy means you would not be uninsured in the event of such a claim.
Products liability insurance
Public liability insurance covers you if a compensation claim is made against you due to something you have done or failed to do, but doesn’t cover claims arising due to defects in any products that you have sold or supplied. Products liability insurance covers this type of claim and is usually bought as part of a public liability insurance policy.
Other types of insurance
You’ll also need employer’s liability insurance if you employ anyone. This covers compensation claims made against you by your employees and it’s a legal requirement if you employ anyone.
Property insurance is also important. This covers your business property against losses due to accidental damage or theft.
You should also consider personal accident insurance which protects your income if you are unable to work because you are ill or have been injured, and legal expenses insurance which covers you if you become involved in legal action.
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