Becoming a therapist or counselor requires years of training. For mental health care professionals, such as social workers, counselors or psychotherapists, carrying liability insurance is a fact of life. This type of insurance is called either Liability Insurance for Professionals or it is called Malpractice Insurance. This kind of insurance protects you against damages incurred because of the care you give. Even the best professionals must carry this type of insurance. Think of it as an investment in your business Liability Insurance for Counselors.
When deciding to provide care without the proper insurance coverage, you are gambling with everything you have. A single lawsuit could destroy your entire career. To avoid this fate, you must invest in liability coverage for your specific field.
You might think that if you are working for a large company or a medical facility that your services are covered by their policies. That might be the case at some facilities but, in most cases, their insurance protects the company, not you. This is another reason to get your own coverage.
Be sure to consider the claim limit and aggregate limit of any policy you look at. Claim limits are usually between $1 to $5 million dollars. That’s how much the insurer will pay for a single claim. The cost of a claim includes investigation fees, legal costs and settlements. Even a successful defense can be very expensive.
Even very careful professionals wind up facing career ending lawsuits. The best protection against this is liability insurance from a major insurer. This is not something you should put off.