Massage therapists are in the business of relaxation and stress relief. But running a massage therapy and spa can be stressful behind the scenes. Everywhere you turn, it seems like there are liability risks, certificates that are about to go out of date, and new services you need to add to your repertoire. Property can get damaged, people can sue for perceived injuries, and employees can get hurt. Fortunately, getting the right kinds of insurance for your company can minimize your risks and keep you doing what you do best. Whether you're starting a new massage spa or expanding your current business, protect your company. Make sure your commercial insurance coverage includes these policies.
A "business owners policy" is a generic term for a group of insurance policies that you buy together in one convenient bundle. The types of insurance included in the bundle are the ones that the industry considers standard. A massage therapist might receive professional liability and property insurance. Some insurance companies also include:
You can customize your bundle to your business.
General liability is sometimes called 'trip and fall' insurance because that is the sort of injury that could result in a lawsuit when you have clients coming onto your property. If someone comes into your business, gets injured, and tries to hold you legally liable for the injury, this type of insurance will cover claims. Sometimes, this coverage is called commercial liability insurance because commercial enterprises use it. Usually, this type of insurance will cover one to two million dollars per period. Work with your insurance provider and figure out what a good figure for your particular business is.
Certified massage therapists are sometimes considered healthcare providers. Even without stepping into the complex world of healthcare, trained massage therapists are considered professionals as far as commercial insurance providers are concerned. Whether your clients are coming to you just for fun or are expecting health benefits, mistakes made by trained employees are potentially dangerous. Any massage can go wrong despite precautions, especially if you offer cupping or hot stone massage. Masseuses need insurance against malpractice lawsuits exactly like other healthcare or expert service providers. In fact, many states mandate that you have this type of insurance in order to be licensed as a massage therapist.
Professional liability insurance, or malpractice insurance, will cover claims from customers who think you injured them through being a bad massage therapist. You would typically be covered up to one or two million dollars per incident.
Massages require a lot of products. Scented oils and lotions are often involved, and each item comes with its own risks. Your clients can have allergic reactions to lotions, and oils can be made so strong that they sting users' skin. Product liability insurance will cover these types of claims. This coverage is even more important if your company produces its own line of lotions and goods for customers to take home with them.
Many massage therapists have to rent or lease commercial space for their business. These properties can get damaged in the course of their work. Massage tables can bang into walls and leave holes, and oils can stain floors. Rental premises liability covers what you have to pay to get your space back to its original condition, though it won't cover personal equipment that isn't part of the rental agreement.
If you own your business's space, you will want to insure it against damages of all sorts. Fire damage, flood damage, and earthquake damage can make it unsafe to perform your services in the building. That means foregoing clients and paying for repairs. Insure your property up to the cost of buying new premises. With this strategy, you won't have to worry about the property being valued at less than what it costs to get back on your feet. Property insurance can also cover some of the equipment you need to run your business.
Business income insurance is there to cover what you lose when you can't work. Small business owners risk losing quite a bit when their property gets too damaged for them to run the business. That's why some insurance providers offer to cover a certain amount to cover payroll and tax obligations until your property is fixed and you can start earning again.
Everyone who employs other people needs worker's compensation. This coverage is even more important when you hire people to perform physical tasks such as massages. Worker's compensation insurance covers injuries that your employees acquire while on the job, such as repetitive stress injuries and falls. Most states mandate that you have it when you hire people. Good coverage is the best way to make sure that an employee will be able to get the medical care that they need to return to work.
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