Occupational Therapist (OT) Insurance

Occupational Therapist (OT) Insurance

As an occupational therapist or OT, you work in a profession where you’re able to help people reach their full potential against the odds and fight against their mental health issues.

Some of your patients may be recovering from a stroke, while others may be coping with disease or mental illness. And although the circumstances and the setting may differ from patient to patient, your training allows you to aid your clients in finding new ways of functioning at the level they’re accustomed to and have peace of mind in their daily living.

As a healthcare professional working either alone or with a team of care providers, occupational therapist insurance can help you protect your finances and your career. 

Occupational Therapist Insurance
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Here Are 3 Insurance Options That You May Want to Explore As an Occupational Therapist

1. Professional Liability 

In the aftermath of a stroke or a sudden injury, your patients are learning and re-learning how to do regular tasks that they used to do without thinking. Also, you will assist them to develop skills to cope with their obstacles. And if a patient follows your advice and ends up hurting themselves, it’s not uncommon for people to get upset and lash out at their care providers.

Professional liability insurance can help occupational therapists defend themselves against allegations of negligence by covering legal and judgment costs.

2. Commercial General Liability

Many occupational therapists operate out of clinics and perform therapy independently. And because patients may already be struggling with conditions that affect their physical capabilities, there’s a real risk that they, or someone attending the session with them, could hurt themselves while visiting you or following your medicare plan.

Commercial general liability coverage can cover situations where third parties suffer bodily injury and/or property damage on your property.

For these reasons and more, commercial general liability coverage is worth discussing with your ALIGNED broker if you run your practice out of a physical building. 

3. Cyber Liability Insurance

There are different types of therapy. Do you or your clinic use the cloud to store customer data? Are you relying on a web-based solution to accept payments or book appointments?

Data breaches and third parties getting unauthorized access to data is a major concern in regular circumstances. But as a healthcare professional, the thought of hackers and other third parties gaining unauthorized access to patient information is particularly chilling. 

Cyber liability insurance may be able to cover health care providers in the aftermath of a hack or a data breach.

What is professional liability insurance and why do I need it? 

Professional liability insurance is malpractice insurance for occupational therapists. As a medical professional, occupational therapists are dealing directly with patients recovering from often severe injuries or conditions such as strokes. There are inherent risks involved in treating any patient, but especially those who are already injured and recovering. Professional liability insurance is protection for occupational therapists to guard against claims of negligence made against them as a result of the treatment of a patient. 

Any occupational therapist needs this coverage to protect them from having to pay out of pocket for judgments against them. If your patient is injured as a direct result of your treatment, you could be held liable and have to pay thousands in reparations. This could bankrupt you and your occupational therapy business. Even if you are not found liable, you may need funds to defend yourself in court. 

What type of insurance coverage do I need? 

Insurance coverage for professional liability is essential for occupational therapists, and in fact, it is often required by professional accreditation bodies. Specifically, medical malpractice insurance covers occupational therapists for allegations made against them of improper or substandard treatment, inadequate or neglectful treatment, any injury suffered by the patient during treatment, and accusations of misconduct. 

If you operate an occupational therapy clinic, you should also carry Commercial General Liability coverage to guard against claims of third-party bodily injury, property damage or damage resulting from advertising. Commercial Property Insurance and Cyber Liability Insurance coverage should also be considered as part of an Occupational Therapist Insurance package when operating a practice. Speaking to an ALIGNED insurance agent will ensure you are covered for the specific aspects of your own practice or business. 

How much does occupational therapist insurance cost? 

The cost of occupational therapist insurance will vary by practitioner and situation, as well as by which company you choose. Insurance companies will take several factors into consideration when determining the cost of Occupational Therapist Insurance, including years in practice, any previous claims made against you or your business, where you are located, your annual revenue, and the types of services you offer. 

Work With an Experienced Broker for Your Occupational Therapist Insurance Needs

As an occupational therapist, your job is all about helping your patients improve or maintain their ability to live on their own terms while doing the things they love. When you work with ALIGNED, you’re getting the benefit of working with trained insurance professionals who will work hard to ensure that you and your practice get the insurance coverage that you deserve. 

Get your FREE occupational therapist insurance quote today. 

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