Frequently Asked Questions About
Commercial General Liability Insurance
How much does small business insurance cost?
Costs can vary widely based on industry and are also determined by zip code and often payroll and/or gross sales. Request a free quote to get an exact number. (read more)
What kind of business insurance do I need?
Most business owners need General Liability Insurance at the very least. If you have any non-owner employees, you will need workers compensation insurance too.
What is a Certificate of Insurance?
A Certificate of Insurance is proof of coverage. It lists the type and amount of liability coverage you have and other policy information when a third party requests it. (read more)
Is business insurance tax deductible?
Yes. you can deduct the cost of commercial insurance premiums. The IRS considers insurance a cost of doing business as long it benefits the business & serves a business purpose.
Illinois Marriage Family Therapy Insurance
Illinois Marriage Family Therapy Insurance. As a marriage and family therapist, you help your clients manage and overcome problems with their families and romantic relationships. But working intimately with clients and their personal lives can present certain risks for your practice.
To protect your practice, you need Illinois marriage family therapy insurance coverage for your most common risks. That way, you have the peace of mind that no matter what unexpected turn comes your way, you have the means to handle the damages and still keep your practice afloat.
Illinois marriage family therapy insurance protects your practice from lawsuits with rates as low as $27/mo. Get a fast quote and your certificate of insurance now.
Why You Need Marriage Family Therapy Insurance
Illinois marriage family therapy insurance is designed to provide financial protection from the risks that come with this job. Whether you provide marriage and family therapy full-time, part-time or have a temporary contract there is always a risk of possible liability claims arising following incorrect advice or guidance given. This insurance provides coverage for such claims as well as for damage, loss or theft of any equipment you use in this profession.
Types Of Marriage Family Therapy Insurance
Here are some of the most basic therapy insurance coverages:
Professional Liability Insurance: Also know as errors and omissions (E&O), this provides coverage for damages or accidents resulting from carelessness or negligence of IL marriage and family therapists when performing their duties. Professional indemnity insurance protects these professionals from claims by dissatisfied clients, providing a financial safeguard from litigation.
Professional liability can offer some or all of the following coverages:
- Inclusive Insurance: Coverage available for employed or self-employed marriage and family therapists.
- Extensive Coverage: Various limit options.
- Your Own Defense: Your own attorney to protect your best interests in a lawsuit.
- Lost Wage Reimbursement: Reimbursement for lost wages.
- Court Costs Coverage: Payment of expenses incurred in your defense.
- Licensing Issues Reimbursement: Coverage for representation in response to licensing board actions, even if a malpractice suit isn't filed.
Commercial General Liability: General liability covers you for anything that happens to anyone that comes into contact with your practice, other than claims that come from the way you do your job. Sometimes, general liability coverage is referred to as "slip and fall" insurance.
Workers Compensation: Do you have employees? IL workers comp insurance is a legal requirement for any non-owner employees and is designed to protect your staff against injury or while performing their job.
Business Owner's Policy (BOP): This Illinois marriage family therapy insurance combines property and general liability coverage in one policy that usually costs less than purchasing them on their own. BOPs are a smart way for IL marriage and family therapists to save money on two insurance policies that they usually have to purchase to meet regulatory requirements. The coverage you get with a BOP is likely more thank you would get if you bought CGL and business property insurance separately, and BOPs offer this coverage for a discounted premium.
Business Property Insurance: As a therapist, you might have rent a small office. You have lit candles in the treatment room and one of them is knocked over and catches fire. The landlord sues you for fire damage to that space as well as water damage to the adjacent spaces because the sprinklers turned on. Property insurance protects you against claims for property damage to the extent you are liable up to your Illinois marriage family therapy insurance policy limits.
Libel and Slander Insurance: Libel and slander are the terms used to describe an individual making allegations or accusations about another person. They cover the written word (libel) and the spoken word (slander). As an example an article appears in a quarterly email newsletter which accuses a local marriage and family therapist of selling goods that are unfit for use. They seek compensation from you for libel.
Sexual Misconduct/Abuse: The Illinois marriage family therapy insurance policy pays for costs to defend you against allegations of sexual misconduct, up to the applicable limit of liability, for amounts you are legally obligated to pay as a result of covered claims involving acts of sexual misconduct related to your professional services.
IL Commercial Auto Insurance: Sometimes IL marriage and family therapists need to travel to work, whether going to assist clients in their homes, or moving between multiple offices. Also, there are work related errands to run to: picking office supplies, cashing checks, going to business lunches, or visiting a tax specialist. Commercial vehicle insurance will protect you by helping you to pay for costs associated with bodily injury and property damage from auto accidents.
IL Marriage Family Therapy Insurance
There's no time like the present to ensure that your investment i your practice are protected from the risks of claims - warranted or not. A solid and comprehensive Illinois marriage family therapy insurance policy can provide the protection you need, and peace of mind.
Illinois Economic Data & Business Insurance Requirements
For moguls who are thinking about conducting business-related affairs in Illinois, it's important to have an understanding of the state's economic outlook. It's also a wise idea to familiarize yourself with the regulations regarding IL commercial insurance.
Here we provide some insight regarding the data that pertains to economy of Illinois. We also provide a brief overview about the types of commercial insurance coverage business owners are required to invest in, or should invest in, even if it isn't mandatory.
Business Economic Trends In The State Of Illinois
According to several reports that compile the economic data for each of the 50 states and compare that information to the national average, Illinois isn't in the best position. While there has been some improvement, the gains have only been slight. Income and employment rates have risen, and the housing market has increases; however, the gains in these areas have been minimal, especially when compared to the gains that other states have experienced.
While the unemployment rate has improved, falling to 4.8 percent in 2017 after it was stuck at a rate of almost 6 percent in 2016 and 2015, it appears that in reality, the IL labor force and employment gains are contradicting. In 2019, tens of thousands of people fell out of the state's labor force.
Looking to the future, it is predicted that while the employment rate in Illinois will grow, the rate at which it will grow will be much lower than the national average. Currently the projected annual job growth of the state is .5 percent. Following are some of the largest industries in IL.
- Service Industries
Illinois Commercial Insurance Regulations
The Illinois Department of Insurance regulates insurance in IL. Businesses are required to carry workers compensation insurance. Workers comp is mandatory for any business that employs either an hourly or a salaried workforce, even if that workforce is just one person. Organizations are also required to carry IL commercial auto insurance if they use vehicles for any business-related reasons, such as deliveries, transport, or client visits.
General liability insurance is not required, nor is commercial property insurance; however, it is a wise idea for companies to invest in this type of coverage, as it will safeguard from lawsuits or losses that their properties could sustain.
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
- 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.
Request a free Illinois Marriage Family Therapy insurance quote in Addison, Algonquin, Alton, Arlington Heights, Aurora, Bartlett, Batavia, Belleville, Belvidere, Berwyn, Bloomingdale, Bloomington, Blue Island, Bolingbrook, Buffalo Grove, Burbank, Calumet, Carbondale, Carol Stream, Carpentersville, Champaign, Charleston, Chicago Heights, Chicago, Cicero town, Collinsville, Crest Hill, Crystal Lake, Danville, Darien, DeKalb, Decatur, Des Plaines, Dolton, Downers Grove, East Moline, East Peoria, East St. Louis, Edwardsville, Elgin, Elk Grove, Elmhurst, Elmwood Park, Evanston, Freeport, Galesburg, Geneva, Glen Ellyn, Glendale Heights, Glenview, Granite, Grayslake, Gurnee, Hanover Park, Harvey, Highland Park, Hoffman Estates, Homer Glen, Huntley, Joliet, Kankakee, Lake in the Hills, Lansing, Libertyville, Lisle, Lockport, Lombard, Loves Park, Machesney Park, Maywood, McHenry, Melrose Park, Moline, Morton Grove, Mount Prospect, Mundelein, Naperville, New Lenox, Niles, Normal town, North Chicago, Northbrook, O'Fallon, Oak Forest, Oak Lawn, Oak Park, Orland Park, Oswego, Palatine, Park Forest, Park Ridge, Pekin, Peoria, Plainfield, Quincy, Rock Island, Rockford, Rolling Meadows, Romeoville, Roselle, Round Lake Beach, Schaumburg, Skokie, South Elgin, South Holland, Springfield, St. Charles, Streamwood, Tinley Park, Urbana, Vernon Hills, Villa Park, Waukegan, West Chicago, Westmont, Wheaton, Wheeling, Wilmette, Woodridge, Woodstock, Zion and all other cities in IL - The Prairie State.
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