3 Types of Insurance Options That Ontario Psychotherapists May Want to Consider
According to Statistics Canada, 17.8% of Canadians needed some form of mental health care in 2018.
When you’re a psychotherapist, you have the unique ability to help people who are suffering from stress, anxiety, grief, and other forms of trauma.
But even so, any time you’re dealing with vulnerable people, there are plenty of opportunities for things to take a turn for the worse.
In order to protect your practice and your career, taking out psychotherapist insurance in Ontario may be in your best interests.
1. Professional Liability Insurance
As a trained psychotherapist, you are the definition of someone who makes a living by giving advice.
Because so much of your psychotherapy work involves going beyond surface-level pleasantries, however, emotions can and do often run high in your line of work. In addition, depending on your caseloads and your relationships with your clients, it’s possible to rush through something important near the end of an appointment that ultimately leads to a lawsuit.
Professional liability insurance, sometimes referred to as Errors & Omissions insurance, can cover mental health professionals in the event that you’re accused of making a mistake.
2. Commercial General Liability Insurance
Between appointments, group therapy sessions, and waiting family members, there are a lot of people going in and out of your office every day.
That is a lot of foot traffic.
And if someone were to trip on the carpet and hurt themselves, you could quickly find yourself caught up in a personal injury lawsuit.
Commercial general liability insurance is designed to offer coverage in situations where personal injury and/or property damage have been suffered by a third party. It can cover the costs of defence and litigation so that accidents and falls can have a minimal effect on the finances of your practice.
3. Commercial Property Insurance
Odds are good that you have several items in your office that you couldn’t complete your day without.
Maybe it’s that comfy chair that you sit in during appointments. Maybe it’s your computer or the coffee table that holds the snacks at just the right height when people are passing by.
If a fire were to wipe out your office overnight, chances are that it would cause a significant amount of financial hardship to try and replace everything in one go. To that end, commercial property insurance may be able to compensate mental health practitioners for your loss if your property is ever damaged by an insured peril.
Why You Should Consider Working With a Broker to Get Psychotherapist Insurance in Ontario
Finding high quality insurance can be a lengthy and time-consuming process in the best of times. You have to compare rates. You have to vet insurance issuers. You have to check and double-check the different insurance options that you have to choose from.
With the help of an experienced broker, you can skip the comparison shopping and go straight to getting the coverage that you deserve.
Contact ALIGNED for your FREE psychotherapist insurance quote today!