Art Therapy Insurance Virginia Policy Information
Art Therapy Insurance Virginia. 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 Virginia policy.
Art Therapy insurance Virginia 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 Virginia, 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 VA 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 Virginia 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 Virginia 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 VA 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. VA 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 Virginia 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.
VA 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.
Virginia Economic Data & Small Business Insurance Information
If you're planning on starting a business, a lot of planning and factors need to be taken into consideration. Of course, having a great business model and offering valuable products and services are all keys to your success; however, there's something else that you need to take into consideration: where you're going to set up shop.
In order to reap the success that you hope for, you need to choose a location that offers favorable conditions for your specific business. If you operation isn't located in a location that can benefit from what you plan on offering, you aren't going to achieve the success that you desire.
For entrepreneurs who are thinking about Virginia as a location for their headquarters or a branch of their company, it's important to familiarize yourself with the economic trends in the commonwealth. It's also essential that you have a keen understanding in regard to the type of insurance coverage you'll need to carry to protect yourself, your clients, and your employees.
Business Economic Trends In Virginia
In regard to job growth, VA exceeds the rate of national job growth. As of February 2019, unemployment rates were at a historic low in The Volunteer State, with a rate of 3.2% throughout the state; 0.1% lower than the last historic low of 3.3% in October of 2018. That's lower than the national unemployment rate, which was reported to be 3.8% in February of 2019. Economists are forecasting continued job growth throughout the state into 2019.
The Commonwealth of Virginia has seen a dramatic upswing in economic growth in recent years. As of late 2019, the unemployment rate had fallen to a record low of just 2.9 percent; a significant difference compared to the national unemployment rate, which was 3.7 percent. In a one-year period, nearly 65,000 jobs were added. In 2019, the unemployment rate and economic growth of the state continues to be positive, and it expected to remain in the green well into 2019 and the future.
In regard to areas that offer the most favorable conditions for business owners, there are several. Metropolitan areas, including northern (Arlington, Fairfax, etc...), central (Richmond, Ashland, Lynchburg, etc...), and southern (Chesapeake, Newport News, Hampton, Norfolk, etc...) all afford great opportunities for entrepreneurs. However, virtually any location in the Commonwealth of Virginia can be considered favorable for business owners.
Industries that offer great promise in Virginia include:
- Education and training
- Information technology
- Travel and tourism
Commercial Insurance Regulations & Limits In VA
The Virginia Bureau of Insurance regulates insurance in Virginia. Just like any other state in the country, there are regulations in place regarding commercial insurance. Business owners are required to carry certain types of coverage to protect themselves, their clients, and their employees.
Small businesses with 2 or more employees are required by VA state law to have workers comp insurance coverage.
If you use certain types of motor vehicles for business-related purposes, you'll also need to invest in commercial auto insurance coverage to protect your drivers, as well as other drivers on the road.
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 Virginia quote in Alexandria, Annandale, Arlington, Ashburn, Bailey's Crossroads, Blacksburg, Bon Air, Brambleton, Brandermill, Bristol, Broadlands, Buckhall, Bull Run, Burke, Burke Centre, Cave Spring, Centreville, Chantilly, Charlottesville, Cherry Hill, Chesapeake, Chester, Christiansburg, Colonial Heights, Culpeper, Dale City, Danville, East Highland Park, Fair Oaks, Fairfax, Falls Church, Fort Hunt, Franconia, Franklin Farm, Fredericksburg, Front Royal, Gainesville, Glen Allen, Great Falls, Groveton, Hampton, Harrisonburg, Herndon, Highland Springs, Hollins, Hopewell, Hybla Valley, Idylwood, Kings Park West, Kingstowne, Lake Ridge, Lakeside, Laurel, Leesburg, Lincolnia, Linton Hall, Lorton, Lynchburg, Manassas, Manassas Park, Martinsville, Marumsco, McLean, McNair, Meadowbrook, Mechanicsville, Merrifield, Montclair, Neabsco, Newington, Newport News, Norfolk, Oakton, Petersburg, Portsmouth, Radford, Reston, Richmond, Roanoke, Rose Hill, Salem, Short Pump, South Riding, Springfield, Staunton, Sterling, Sudley, Suffolk, Timberlake, Tuckahoe, Tysons, Vienna, Virginia Beach, Waynesboro, West Falls Church, West Springfield, Williamsburg, Winchester, Wolf Trap, Woodlawn and all other cities in VA - Old Dominion.
Also learn about Virginia small business insurance requirements for general liability, business property, commercial auto & workers compensation including VA business insurance costs. Call us (703) 747-9779.