Counselor Insurance Rates
How Much Is Business Insurance for Mental Health Professionals?

Let's look at what mental health counselor insurance typically costs for a small practice.

Note: Insurance quotes below are only estimates. Actual premiums may vary.

HOW MUCH IS
General Liability Insurance?

What Does General Liability Insurance Cost?

Small businesses often need General Liability Insurance because it offers a wide range of lawsuit coverage, but it's especially important for mental health counselors because of all the patients who visit your office. General Liability Insurance covers third-party lawsuits when people are injured on your property, someone claims you've damaged their reputation, or your business damages someone's property. This means that GL covers many lawsuits a mental health counselor could see. Patient slip-and-fall accidents and disputes with landlords about a damaged office could both be covered.

The average rate for a General Liability Insurance policy for mental health counselors with a $2M policy limit and a $1M per-claim limit is $469.89, with a median rate of $425.00. General Liability Insurance for mental health counselors typically costs $350 to $1,750 in annual premiums.

To see how the cost of General Liability Insurance for mental health counselors compares with other industries, visit Insureon's 2014 General Liability Insurance Cost Analysis New browser window icon..

Average Premium Rates on General Liability Insurance Policies for Mental Health Counselors
Name USD

Per claim limit:

$1,000,000

Policy Limit:

$2,000,000

Mean policy premium:

$469.89

Median policy premium:

$425.00

HOW MUCH IS
a BOP?

What Does a Business Owner's Policy Cost?

A Business Owner's Policy (also called a BOP) packages General Liability and Property Insurance for mental health counselors. When you buy a BOP, you'll get these two policies, and you'll usually save money because insurers offer you a discount for buying more policies at once. Property Insurance can cover your practice's property, equipment, and supplies, while reimbursing you for theft, vandalism, fire damages, and some weather damage.

The average rate for a mental health counselor's Business Owner's Policy in which the General Liability component has a $2M policy limit and a $1M per-claim limit is $694.25, with a median rate of $508.98. A mental health counselor's Business Owner's Policy typically costs $400 to $2,400.

Average Premium Rates on Business Owner's Policies for Mental Health Counselors
Name USD

Per claim limit:

$1,000,000

Policy Limit:

$2,000,000

Mean policy premium:

$694.25

Median policy premium:

$508.98

HOW MUCH IS
Malpractice Insurance?

How Much Is Malpractice Insurance?

Malpractice Insurance for mental health counselors covers the cost of lawsuits when counselors fail to fulfill their professional duties or make a mistake doing so. Counselor insurance can cover lawsuits over incomplete notes, failure to review patient history, inappropriate personal disclosure, using techniques you're not properly trained in, and not seeking peer consultation.

Take a minute to think about a worst-case scenario. Say a client's condition deteriorates and he becomes violent with himself or others. If that happens, your practice could be sued in an expensive malpractice lawsuit. A patient's family could claim that you failed to help. To protect you from these legal costs and guarantee that you can keep practicing even in the face of a lawsuit, it's important to invest in mental health counselor Malpractice Insurance.

The average rate for Malpractice Insurance for mental health counselors with a $1M policy limit and a $1M per-claim limit is $587.05, with a median rate of $480.00 Malpractice Liability Insurance for mental health counselors typically costs $400 to $1,500 in annual premiums.

To see how the cost of Professional Liability / Malpractice Insurance for mental health counselors compares with other industries, visit Insureon's 2014 Professional Liability Insurance Cost Analysis New browser window icon..

Average Premium Rates on Malpractice Liability Insurance Policies for Mental Health Counselors
Name USD

Per claim limit:

$1,000,000

Policy Limit:

$2,000,000

Mean policy premium:

$587.05

Median policy premium:

$480.00

HOW MUCH IS
Workers' Comp?

How Much Is Workers' Compensation?

In most states, mental health counselors will need Workers' Compensation Insurance (also called Workers' Comp or Workman's Comp) in order to fulfill their legal requirements as an employer and cover their employees from accident and injury costs. If an employee injures her back, slips down the stairs, or suffers another injury at work, her employer is usually legally required to pay for medical costs and some lost wages. Workers' Comp covers these costs. Many policies also come with Employer's Liability Insurance to pay for Workers' Comp lawsuits.

The average rate for a mental health counselor's Workers' Compensation Insurance policy with a $1M accident limit, a $1M disease limit, and a $1M employee limit is $1,115.20, with a median rate of $788.00. Workers' Compensation Insurance for mental health counselors typically costs $300 to $2,700.

Average Premium Rates on Workers' Compensation Insurance for Mental Health Counselors
Name USD

Accident limit:

$1,000,000

Disease limit:

$1,000,000

Employee limit:

$1,000,000

Mean policy premium:

$1,115.20

Median policy premium:

$788.00

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