Occurrence form, claims-made, aggregates, and liabilities - oh my? The world of massage insurance can be pretty confusing. With all of the different companies out there, how do you know you are getting a policy that will adequately cover you in the unfortunate event that a claim comes up at some point during your career? We’ll go over the important factors massage therapists need to be aware of in order to make the best decision for themselves and their careers when it comes to purchasing a sound massage therapy insurance policy.
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What is Massage Liability Insurance Coverage?
InsureLMT Massage Insurance Plus primarily covers three main areas of liability for any therapist performing hands-on services to clients. These areas of general liability, professional liability, and product liability will be discussed later but here we’ll look at the premise behind liability insurance.
The law dictates that when someone else acts in some degree of negligence, and in doing so causes you harm - whether that’s damaging your property or causing an injury that requires treatment - the law allows for the victim the ability to seek restitution from the party responsible, including filing a civil lawsuit.
Being at the receiving end of a lawsuit can be incredibly stressful. Legal defense fees can run in the thousands of dollars. For hardworking therapists, the costs related to a claim against them could prove to be the ruin of their personal finances or stop a career in its tracks. Hence, the necessity for protection from common claims that come up in the industry. Massage therapy insurance provides this protection in the form of a financial assurance that the carrier will cover the costs associated with a claim event, per the appropriate provisions of the policy you hold with them.
An insurance policy is in effect a contract between therapist and carrier. The former agrees to pay an agreed upon premium in exchange for the ability to shift certain risks away from themselves and their practice. The carrier agrees to assume these risks and the financial responsibility of providing remuneration in the event of a covered claim.
Understanding a Policy’s Coverage
Coverage is pretty basic for insurance, but it can easily be overlooked when many companies each list several different coverage areas. First up, it’s important to make sure the services you provide are actually covered. We cover more than 350 different services, something not every competitor can come close to. Let’s look over different areas of a policy’s coverage:
Professional Liability Insurance:
- liability inherent to providing professional service. You’ll hear this described as “malpractice” - that is, someone claiming the service you provided was the cause of their loss. For therapists, this could be a client alleging your deep tissue session went a little too deep and their ensuing pain and medical treatment is your responsibility to pay them back for.
- this liability coverage is for when a client has an unfavorable reaction to a certain lotion, oil, or other product you used with them during their session.
Rental Location Damage Insurance
- included as additional protection, this coverage provides for many different forms of damages that might occur within a rented space. Just think, a candle lit during a session that causes heat damage to an adjacent wall might cost thousands to repair which your landlord demands you pay immediately.
General Liability Insurance:
- this is liability for claims of third-party injury or property damage. Many call this type of coverage “slip and fall” insurance because it covers claims like the customer who says the puddle of water on the floor in your studio caused them to slip and hurt themselves.
Occurrence Form Coverage:
- this type of policy allows member’s policy to lapse and still will afford coverage for a claim so long as the event that causes the claim occurred during the time when the policy was still active.
Stolen Equipment Coverage:
- let’s face it, it’s a terrible situation when a robbery leaves you shaken and suddenly without some important piece of equipment. Our massage insurance includes this additional protection to help our members recover the cost of their equipment after a robbery-by-force.
Coverage & Pricing
- Professional and General Liability Insurance
- Digital Proof of Insurance
- Instant Coverage
- Product Liability
- Individual Limits
- Rental Location Damage Insurance
- Stolen Equipment Coverage
- Identity Protection Plan
How Limits are Set
Limits can be easily overlooked. You figure you have hundreds of thousands or even millions of dollars worth of coverage so obviously you’re good in the event of claim, right? Well, not necessarily. A company that tries to tempt you with a low premium based on low limits may be doing you a disservice when the cost of a claim is not entirely covered by your insurance policy. A good limit is neither too low or too high, but rather set after truly understanding the industry, the risks involved, and the costs of covering these risks.
Massage insurance limits should always be set in a manner that balances ample coverage with affordability. We do this by providing for what’s actually needed and not selling our members more than what they need.
- Our coverage/protection limits include:
- Professional Liability Insurance: $2 million per occurrence, $3 million individually as an annual aggregate
- General Liability Insurance: $2 million per occurrence, $3 million individually as an annual aggregate
- Product Liability Coverage: $2 million per occurrence and per year
- Rental Location Damage Insurance: up to $100,000
- Stolen Equipment Coverage: up to $1,000 and a $250 deductible
- Identity Protection Plan: up to $25,000 in services to recover from identity fraud
Understanding the Costs of Massage Insurance
Cheap massage insurance is not always the best massage insurance. It can oftentimes not even be good massage insurance. But you certainly do not want to overpay for coverage either. So how do you know if you are getting a good deal but still getting good coverage? Here’s the two main areas to focus on when comparing the cost of different massage insurance coverage options:
1. Are there different packages?
We carry two different plans - Gold and Platinum - so that our members can choose the level of coverage they are most comfortable with and make the best decision based on their career. Gold Plans are just $97 per year and include all of the protections listed above, minus the identity coverage provided in the Platinum Plan. With our Platinum plan, for $155 per year members can also add unlimited online continuing education and the benefit of a professional website for their practice. Added bonus, both our Gold and Platinum plans offer a significant discount when a two-year plan option is selected.
2. Are there any additional fees?
Some massage programs only apply to a very select few modalities and anything outside of those will cost extra. Also watch for a membership fee and other annual fees that can be slipped in.
How Soon Do You Receive Coverage?
Some massage insurance companies can take several days to review the application and actually apply coverage. But this approach is somewhat antiquated and doesn’t always work in the real world. With InsureLMT, as soon as you click “check-out” after completing the online application you get a certificate of insurance.
Shopping for Good Benefits
Some companies do not offer any sort of benefits program with their policies. Others only include a few discounts to products you will never buy or events you will never attend. Our benefits program has been tailored just for massage therapists.
Within a program valued in the hundreds, membership includes access and discounts on products and services from the best names in massage therapy - from gear, to products, to services, we have built relationships with recognized leaders in the industry.
Our Platinum Plan also includes unlimited online continuing education and a professional website for their business.