Art Therapy Insurance Michigan Policy Information
Art Therapy Insurance Michigan. Art therapists use various tools alongside careful assessment to help people work through mental, physical and emotional blockages in their lives. But offering such services comes with risks.
Sometimes, you may give advice or counsel that a client misinterprets, which can lead to self-harm. A lawsuit could be brought against you by the client. At that critical moment, nothing in the world will be more reassuring than knowing you have your own art therapy insurance Michigan policy.
Art Therapy insurance Michigan protects your practice from lawsuits with rates as low as $27/mo. Get a fast quote and your certificate of insurance now.
Why Do Art Therapists Need Business Insurance?
As an art therapist, you've dedicated your career to helping others, and you should be free to focus on clinical care without worrying about a threat to your livelihood. With art therapy insurance Michigan, you can have peace of mind knowing you're protected in the event of a claim or suit, a grievance from a regulatory board, plus many other coverage benefits.
Professional Liability Insurance For Art Therapy
Also know as errors and omissions (E & O) - art therapists' professional liability insurance is specifically designed to cover all of your work as an MI art therapist including, where appropriate work as an educator, trainer or supervisor. Some companies allow you to extended to include other work such as hypnotherapy, psychotherapy, counseling & life coaching.
Following are some of the more common types of professional art therapy insurance Michigan coverage:
- Negligence - Professional liability covers alleged mistakes or advice your make through professional art therapy services (including failure to perform those services).
- Undelivered Services - If you promise your patient a result your don't deliver, errors and omissions can help cover the breach-of-contract lawsuit expenses.
- Defense Costs - Includes coverage for defense costs for law suits against your you - regardless of fault.
- Personal injury - Can provide protection for small businesses against both libel and slander if it's committed as part of your professional services.
- Copyright infringement - Can provide coverage for damages or claims expenses for copyright infringement.
"Claims Made" Coverage Most art therapy insurance Michigan plans offer "claims-made" coverage. This means that your policy must be in place both when an incident occurs and when you file your claim. Most MI art therapists only realize this important caveat once they cancel coverage and try to submit a claim. However, it's not a good idea to only carry professional liability insurance when you are under contract - it's best to carry it for the entire life of your practice.
What Limit Of Coverage Do I Need?
This depends on your circumstances. If you need E&O insurance for a specific contract, it's likely the client will have specified a minimum amount. Otherwise, consider a worst case scenario if you were to make a mistake in a piece of work for a client, and estimate the cost of putting it right. One million dollars is a standard minimum amount for most small practices.
Other Important Art Therapy Coverages
Home Business Insurance: Do you practice from home or have an office? You may be required to up-date your insurance policy to account for the extra activity. You may need specialist home insurance for art therapists, in addition to your professional liability policy.
Worker's Compensation Insurance: It mandatory most states for every art therapy company who has any non-owners employees to have workers comp. MI workers compensation insurance is there to protect the employees with medical and disability of an on-the-job injury. While serious injuries are rare for art therapists, this art therapy insurance Michigan benefit provides lost income and pays for medical expenses for the injuries.
Commercial Property Insurance: Your art therapy practice provides a valuable service to your community. And in order for it to run effectively, you rely on various equipment and supplies to perform your work. But when natural disasters, fires, or criminal activity strike your facility, you need help fast. Business property insurance offers coverage to make the necessary repairs to your office, replace your equipment, and ensure you still make payroll.
MI Art Therapy Insurance
As a profession, art therapy is relatively low risk - but - you do need to protect yourself and your business. In today's world, people are increasingly ready to take legal proceedings for compensation and the incidence of claims against art therapists are on the rise. The unexpected can - and sometimes does happen, and the price of professional liability policy is a tiny fraction of the likely cost of a claim.
Michigan Economic Data And Business Insurance Requirements
Business owners who are interested in establishing operations Michigan must have a thorough understanding of the state's economy. They should also familiarize themselves with any regulations and limits that state may have in place for commercial insurance.
Any entrepreneur who is thinking about starting a business in the Great Lake State first needs to determine if it's a feasible location for business operations. As such, it's important to have a keen understanding of pertinent details regarding the economy of Michigan, in addition to the types of insurance coverage that are mandatory for corporations that operate within the state.
Economic Trends for Businesses In Michigan
After a long period of stagnant job growth in the early part of the 21st century, MI has been experiencing a steady increase in employment gains. Between 2009 and 2018, the state has enjoyed a period of uninterrupted job growth; the longest stretch of job growth since World War II. According to economists at the University of Michigan. While there has been a slight decline in the rate of job growth, job creation continues and forecasters say will continue for the next two years, into 2021.
In 2018, an estimated 55,200 jobs were created; in 2019, it's expected that 35,800 jobs will be created, and in 2020, economists believe that there will be a total of 39,300 jobs created in Michigan. While that rate of growth is 1.9 percent slower than the job growth rate between 2011 and 2016, it is still a steady increase overall. In total, approximate 683,200 jobs will be created in MI between 2099 and 2020; almost four out of the five jobs that were lost during the early part of the 21st century will be recovered.
While the unemployment rate has steadily improved, it is still above the national average. In March of 2019, the national unemployment rate was 3.8 percent, while in the state of Michigan, it was 4.0 percent. Mid-Michigan has experienced the largest growth rate in the state, and according to forecasters, it looks like that trend will continue, moving forward. Industries that are expected to see the most growth include:
- Energy, due largely to research and development in clean energy
- Food and agriculture
- Transportation and mobility
- Healthcare industry
- Information and technology
In the state of MI, business owners are not legally required to carry liability insurance; but most entrepreneurs opt to invest in a General Liability or Business Owner's Policy (BOP). A commercial auto insurance policy is also required for any businesses that use motor vehicles to conduct any aspect of their business operations. Workers' compensation insurance is also required for any businesses with non-owner employees. While the following forms of coverage are not required, depending on the type of business you operate, they are recommended:
- Data breach insurance
- Business income insurance
- Commercial Umbrella insurance
Additional Resources For Medical Insurance
Discover small business insurance for medical and dental professionals. Medical malpractice insurance is a type of professional liability that protects health care professionals from liability causing in bodily injury, medical expenses and property damage.
- Ambulatory Surgical Center
- Art Therapy
- Assisted Living Facilities
- Dental Lab
- Dental Office
- Diagnostic Imaging Centers
- Healthcare Facilities
- Home Medical Equipment Dealers
- Marriage & Family Therapy
- Medical Laboratories
- Medical Marijuana Dispensary
- Medical Practice
- Mental Health Counseling
- Occupational Therapy
- Physicians Office
- Skilled Nursing Facilities
- Speech Therapy
- Substance Abuse Counseling
Health care providers are the most trusted individuals in our society. Ironically, they are the same ones who can do the greatest harm. They actually have the right to invade our bodies with knives and to poison us with chemicals - all in the name of health care and with the goal of relieving our symptoms and hopefully bringing about a cure.
While the actions of these professionals normally benefit us, insurance coverage must be available for the times when mistakes happen and things go wrong. These professionals and their facilities have extensive property exposures that are becoming more and more intricate and whose values are increasing exponentially.
The 'one size fits all' approach that once could have applied to insurance for health care providers and their facilities no longer applies.
Professional liability offers protection against claims of malpractice for all sums that the medical professional becomes legally obligated to pay as damages because of rendering or failing to render professional services.
Professional and medical malpractice exposures are the most expensive and difficult of all exposures for health care providers. The commercial general liability policy excludes these exposures so separate coverage is needed. Most professional liability policies are written on a claims-made basis and, as a result, tail coverage and retroactive dates are important coverage issues to be aware of when evaluating the insured’s coverage needs and comparing coverages.
The coverage provided is often called medical malpractice. For decades, many involved in the health care field and insurance companies that provide insurance coverage to providers have stated that malpractice lawsuits have created an ongoing crisis of restricting insurance availability, due to loss of insurance companies that write the coverage and significant rate increases.
As a result, state legislatures have taken the following actions to address the situation:
Imposed a dollar limitation of liability for malpractice suits.
Modified statutes of limitation to limit the number of years that a suit may be brought against a physician following a negligent act.
Modified when the statute of limitations takes effect. An example is beginning from a negligent act's occurrence rather than from its discovery.
Passed laws to modify tort law procedures and doctrines that relate to malpractice.
Because of differences in law by state it is important to know the states in which the covered health care providers are licensed and regularly practice. Some health care providers may practice in multiple states because of their particular specialty, their reputation or the demand for their services. Some hospitals may have ownership in facilities or provide services to patients that are outside of their main location state.
Minimum recommended small business insurance coverage: Business Personal Property, Business Income and Extra Expense, Employee Dishonesty, Money and Securities, Accounts Receivable, Computers, Physicians and Surgeons Floater, Valuable Papers and Records, General Liability, Employee Benefits, Professional, Umbrella, Hired and Non-owned Auto & Workers Compensation.
Other commercial insurance policies to consider: Building, Earthquake, Equipment Breakdown, Flood, Leasehold Interest, Real Property Legal Liability, Computer Fraud, Forgery, Cyber Liability, Employment-related Practices, Business Automobile Liability and Physical Damage and Stop Gap Liability.
Request a free Art Therapy Insurance Michigan quote in Adrian, Allen Park, Allendale, Ann Arbor, Auburn Hills, Battle Creek, Bay City, Berkley, Beverly Hills, Big Rapids, Birmingham, Burton, Cadillac, Clawson, Coldwater, Cutlerville, Dearborn, Dearborn Heights, Detroit, East Grand Rapids, East Lansing, Eastpointe, Escanaba, Farmington, Farmington Hills, Fenton, Ferndale, Flint, Forest Hills, Fraser, Garden City, Grand Haven, Grand Rapids, Grandville, Grosse Pointe Park, Grosse Pointe Woods, Hamtramck, Harper Woods, Haslett, Hazel Park, Highland Park, Holland, Holt, Inkster, Ionia, Jackson, Jenison, Kalamazoo, Kentwood, Lansing, Lincoln Park, Livonia, Madison Heights, Marquette, Melvindale, Midland, Monroe, Mount Clemens, Mount Pleasant, Muskegon, Muskegon Heights, New Baltimore, Niles, Northview, Norton Shores, Novi, Oak Park, Okemos, Owosso, Pontiac, Port Huron, Portage, Riverview, Rochester, Rochester Hills, Romulus, Roseville, Royal Oak, Saginaw, Sault Ste. Marie, South Lyon, Southfield, Southgate, St. Clair Shores, Sterling Heights, Sturgis, Taylor, Traverse City, Trenton, Troy, Walker, Warren, Waverly, Wayne, Westland, Wixom, Woodhaven, Wyandotte, Wyoming, Ypsilanti and all other cities in MI - The Great Lakes State.
Also learn about Michigan small business insurance requirements for general liability, business property, commercial auto & workers compensation including MI business insurance costs. Call us (313) 344-7177.