The Hartford is the best small business insurer for physical therapy companies due to its affordability and coverage. We recommend that you also compare quotes from our other top picks, including NEXT, Nationwide and Simply Business.
Best Physical Therapy Business Insurance
Updated: June 30, 2025
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Key Takeaways
The Hartford is the best business insurance company for physical therapy firms because it offers the greatest balance of affordability and coverage.
The cheapest overall commercial insurance provider for physical therapy businesses is The Hartford, with low monthly rates for various coverage types.
While shopping for business insurance for your physical therapy business, assess the risks in your industry, consult agents and other similar organizations, and compare multiple options.
Best Business Insurance for Physical Therapy Companies
| The Hartford | 96 | 98 | 91 |
| NEXT | 95 | 95 | 94 |
| Nationwide | 93 | 93 | 91 |
| Simply Business | 89 | 89 | 83 |
| Progressive Commercial | 88 | 91 | 81 |
| biBerk | 88 | 86 | 91 |
| Hiscox | 87 | 87 | 87 |
| Thimble | 86 | 88 | 81 |
| Coverdash | 86 | 83 | 83 |
| Chubb | 85 | 80 | 87 |
*All scores were based on a physical-therapy business with two employees across professional liability, general liability, workers' comp and BOP policies.
1. The Hartford
pros
Affordable professional liability rates
Trusted for claims handling
Offers strong BOP packages
cons
Slower quote times than competition
COMPANY HIGHLIGHTS
The Hartford is the top choice for physical therapy businesses, offering a balance of affordability, comprehensive coverage and responsive customer service. It has the lowest average rates for professional liability insurance and ranks among the most affordable for BOP coverage.
The Hartford is known for reliable claims handling and flexible policy customization, which benefits physical therapists working in varied settings, from private clinics to in-home care. With over 200 years in the business and high financial strength, it’s a dependable pick for risk protection. Claims are unlikely to go unpaid with an A+ from AM Best for financial stability.
2. NEXT
pros
Great digital experience
Fast, online quote process
Competitive rates for small practices
cons
Limited phone-based support
May not suit complex businesses
COMPANY HIGHLIGHTS
NEXT is a close second, especially for smaller or solo physical therapy practices. It offers competitive pricing across all major policies, including general liability and workers’ comp. NEXT also provides a fully digital platform with instant certificates of insurance, policy management, and claims.
Its modern interface and automation make it convenient for therapists juggling busy schedules. Despite being newer, it’s earned a 4.7 out of 5.0 rating from over 3,000 customers.
3. Nationwide
pros
Cheapest BOP and liability rates
Strong agent network
Helpful risk management tools
cons
Less convenient for tech-first users
COMPANY HIGHLIGHTS
Nationwide is the most affordable option for physical therapy companies, especially for general liability and BOP insurance. It combines low-cost pricing with a solid reputation for customer service and claims support.
Nationwide offers scalable coverage and strong agent support for physical therapists managing growing teams or multiple clinic locations. It also provides access to value-added services like risk management resources and HR guidance.
Cheapest Business Insurance for Physical Therapy Firms
We found that Nationwide offers the cheapest overall commercial insurance for physical therapy companies across most policy types. However, this applies only to physical therapy companies with two employees, and you may find lower rates elsewhere. Below are the most affordable providers by major coverage types.
Cheapest General Liability Insurance for Physical Therapy Companies
With an average monthly rate of $20, Nationwide offers the lowest-cost general liability insurance for physical therapy companies. Even so, consider getting quotes from the next-most-affordable insurers: NEXT and The Hartford.
| Nationwide | $20 | $240 |
| NEXT | $24 | $294 |
| The Hartford | $24 | $292 |
| Progressive Commercial | $27 | $327 |
| Simply Business | $28 | $339 |
| Thimble | $29 | $349 |
| Hiscox | $30 | $357 |
| biBerk | $32 | $384 |
| Chubb | $34 | $402 |
| Coverdash | $34 | $406 |
Cheapest Workers' Comp Insurance for Physical Therapy Companies
For physical therapy businesses shopping for workers' comp insurance, Thimble is the most affordable insurer, with average rates of $3 per month or $35 yearly. You may find more affordable rates with The Hartford, biBerk, Coverdash and Hiscox.
| biBerk | $3 | $41 |
| Coverdash | $3 | $40 |
| Hiscox | $3 | $39 |
| NEXT | $3 | $41 |
| Progressive Commercial | $3 | $38 |
| Simply Business | $3 | $39 |
| The Hartford | $3 | $40 |
| Thimble | $3 | $35 |
| Chubb | $4 | $47 |
| Nationwide | $4 | $44 |
Cheapest Professional Liability Insurance for Physical Therapy Companies
The Hartford offers the most affordable professional liability insurance options for physical therapy companies, with low average monthly rates of $84. You may want to compare prices from other low-cost providers like NEXT, Progressive Commercial and Thimble.
| The Hartford | $84 | $1,005 |
| NEXT | $89 | $1,063 |
| Progressive Commercial | $90 | $1,078 |
| Thimble | $91 | $1,097 |
| Hiscox | $93 | $1,121 |
| Simply Business | $93 | $1,121 |
| Coverdash | $95 | $1,143 |
| biBerk | $98 | $1,171 |
| Nationwide | $101 | $1,214 |
| Chubb | $110 | $1,320 |
Cheapest BOP Insurance for Physical Therapy Companies
Nationwide provides the most affordable business owner's policy (BOP) coverage for physical therapy companies, with an average yearly cost of $359 for bundled general liability and property protection. That's a savings of roughly $14 annually compared to The Hartford, the second most affordable option.
| Nationwide | $30 | $359 |
| The Hartford | $31 | $373 |
| NEXT | $35 | $425 |
| Progressive Commercial | $41 | $491 |
| biBerk | $42 | $503 |
| Simply Business | $43 | $510 |
| Hiscox | $44 | $532 |
| Thimble | $46 | $551 |
| Coverdash | $49 | $590 |
| Chubb | $50 | $604 |
What Type of Coverage Do You Need for a Physical Therapy Business?
Most companies with employees are legally required to carry workers' comp insurance, and businesses that use vehicles must have commercial auto coverage. Many clients or contracts require businesses to have general liability insurance before starting work. A surety bond may also be necessary in certain industries, especially when contracts require guarantees of service or compliance.
RECOMMENDED BUSINESS COVERAGE FOR PHYSICAL THERAPISTS
General liability insurance is recommended for physical therapy companies because it covers common risks like bodily injury, property damage and legal defense costs. Professional liability insurance is a good option for businesses that work under client contracts or provide specialized services. This coverage becomes especially useful for companies offering specialized services or handling large contracts.
Coverage Recommendations by Physical Therapy Company Type
We've outlined a list of physical therapy services, ranked from those with the highest risk of claims to those with the lowest. This ranking helps in understanding the varying insurance needs based on the service type, with higher-risk services needing more extensive coverage.
Physical Therapy Company Type | Coverage Types Recommendation | Most Common Insurance Claims | Most Common Reasons For Litigation |
|---|---|---|---|
Solo physical therapist (self-employed) | General Liability, Professional Liability | Slip-and-fall injuries at rented office, malpractice claims | Alleged misdiagnosis, failure to prevent injury |
Small clinic (2–5 employees) | General Liability, Professional Liability, Workers’ Comp, BOP | Staff injury during treatment, patient injury onsite | Employee wage disputes, treatment-related injury claims |
Mobile physical therapist | General Liability, Professional Liability, Commercial Auto | Auto-related accidents, patient injury in non-clinical settings | Improper patient handling, lack of consent |
Pediatric or geriatric therapy provider | General Liability, Professional Liability, Abuse & Molestation Coverage | Client falls, claims of neglect | Allegations of inappropriate contact, failure in duty of care |
Multi-location or franchise clinic | BOP, Workers’ Comp, Cyber Liability, Professional Liability | Data breaches, employee injuries, high-volume client claims | HIPAA violations, unsafe premises, negligent hiring |
How to Get the Best Cheap Business Insurance for Your Physical Therapy Company
Here's a step-by-step method for finding the best and cheapest business insurance for your physical-therapy company.
- 1
Decide on coverage needs before buying
Take into account specific risks for your business for claims, obtain advice from similar business and research the types of business insurance. This will give you a balanced perspective on your coverage needs and prevent you from being convinced to get excessive coverage.
- 2
Research costs
Research average costs for your business to find which providers offer the cheapest rates overall. This will give you an idea of how much you're saving when comparing quotes and which companies to begin with.
- 3
Look into company reputations and coverage options
Investigate what customers say on online rating sites and forums to comprehensively examine company services. Research coverage options to make sure you're covered for the right items.
- 4
Compare multiple quotes through different means
Compare multiple quotes for coverage. Pricing differs by your comparison method, whether with captive agents, comparison sites, company websites or independent agents.
- 5
Reassess annually
Your business will likely change over time, so you should reassess and repeat these steps annually to be sure you still have the best deal.
How to Decrease Your Physical Therapy Business's Liability Risk
Reducing liability risk is essential for physical therapy businesses to manage insurance costs effectively. We've organized risk mitigation strategies by business risk level to help you find suitable measures for your practice.
Physical Therapy Risk Type | Included Types of Physical Therapy Practices | Risk Mitigation Tactics |
|---|---|---|
Highest | Outpatient rehab clinics treating post-surgical or high-risk patients, sports performance centers, neurorehabilitation practices | Advanced certifications (orthopedic, neuro, geriatric specialties) Emergency response training (CPR, AED, handling falls) Detailed documentation and progress tracking Fall prevention protocols (gait belts, assistive devices, supervision) |
Moderately high | Home health PT providers, pediatric physical therapy, mobile/telehealth PT services | Home visit safety protocols (pre-screening, secure access) Caregiver collaboration and supervision plans, pediatric-specific safety training HIPAA-compliant digital tools and encryption for telehealth |
Moderate | Private PT practices, general outpatient ortho clinics, wellness and recovery studios | Evidence-based treatment protocols Informed consent for all modalities Equipment maintenance schedules Incident reporting procedures Regular peer reviews or case audits |
Moderately low | Workplace ergonomic consults, pre-employment physical testing providers, fitness-focused PT hybrid practices | Ergonomics certifications Employer policy alignment Waiver systems for fitness clients Proper screening for high-risk individuals Communication training for borderline medical/fitness services |
Lowest | PT consulting, academic/research-focused physical therapists, administrative or supervisory PT roles | Clear role definitions (non-treatment) Data protection training (if handling records) Academic integrity standards Low physical exposure protocols (e.g., sit-stand desks, screen ergonomics) |
Best Insurance for Physical Therapy Business: Bottom Line
The Hartford is the best insurer for physical therapy business insurance and also offers the most affordable coverage. We also recommend getting quotes from NEXT, Nationwide and Simply Business. To find the best deal, talk to agents, research providers and pricing and compare several quotes.
Physical Therapy Business Insurance: FAQ
This section answers frequently asked questions about business insurance for physical therapy practices.
Who offers the best physical therapy business insurance overall?
The Hartford provides the top business insurance for physical therapists due to its exceptional customer service and impressive MoneyGeek score of 96 out of 100. NEXT is a close contender with a score of 95.
Who has the cheapest business insurance for physical therapy companies?
Here are the cheapest business insurance companies for physical therapy companies by coverage type:
- Cheapest general liability insurance: Nationwide at $20 monthly
- Cheapest workers' comp insurance: Thimble at $3 monthly
- Cheapest professional liability insurance: The Hartford at $84 monthly
- Cheapest BOP insurance: Nationwide at $30 monthly
What business insurance is required for physical therapy organizations?
Workers' compensation insurance (for employees) and commercial auto insurance (for business-owned vehicles) are legally required for physical therapy companies. Requirements vary by state. General liability and surety bonds, while not legally mandated, are often required by clients and for property leases.
How much does physical therapy business insurance cost?
Business insurance costs for physical therapy businesses vary depending on the type of coverage. We've broken down costs for commonly needed coverage for small businesses:
- General Liability: $27 per month
- Workers' Comp: $3 per month
- Professional Liability: $91 per month
- BOP Insurance: $41 per month
How We Chose the Best Physical Therapy Business Insurance
We selected the best business insurer for physical-therapy companies based on the following criteria:
- Affordability (50% of score): The lower a company's costs compared to the competition based on our base profile for four core coverage types, the better it performs.
- Customer service (30% of score): We scored providers on overall customer satisfaction using industry studies, customer review forum ratings and public forum sentiment analysis from sites like Reddit.
- Coverage (15% of score): We scored business insurance for this category based on the flexibility, payment and actual coverage options.
- Financial stability (5% of score): Using financial stability industry ratings from companies like AM Best and Moody's, we created an overall rating to judge how likely a company is to pay out claims compared to the competition.
All pricing in this article is based on the following base profile to represent the vast majority of small businesses in all states:
- Three-person business with two employees
- Coverage: $1 million per occurrence and $2 million total per year for all but BOP, which includes the same coverage plus $5,000 of business property coverage
- $150,000 in payroll
- $300,000 annual revenue
About Mark Fitzpatrick
Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. With over five years of experience analyzing the insurance market, he conducts original research and creates tailored content for all types of buyers. His insights have been featured in publications like CNBC, NBC News and Mashable.
Fitzpatrick holds a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He's also a five-time Jeopardy champion!
Passionate about economics and insurance, he aims to promote transparency in financial topics and empower others to make confident money decisions.
sources
- AM Best. "Hartford Fire Insurance Company." Accessed June 30, 2025.
- NEXT. "Customer Reviews." Accessed June 30, 2025.