Best Physical Therapy Business Insurance

Running a physical therapy practice means protecting financially it from professional liability claims, patient injuries and equipment damage. The Hartford earned our top ranking for physical therapy business insurance with a MoneyGeek score of 4.78 out of 5, offering competitive rates and quality service. NEXT and Nationwide also provide strong coverage options worth comparing for your PT practice.

Note: We based all scores on a physical-therapy business with two employees across professional liability, general liability, workers' comp and BOP policies.

The Hartford offers the most affordable physical therapy business insurance at $37 monthly or $442 annually on average. Physical therapists benefit from The Hartford's lowest professional liability rates at $84 monthly. For general liability and business owner's policies, Nationwide provides better rates for PT practices at $20 and $30 monthly respectively. NEXT also offers cost-effective workers' compensation at $3 monthly for physical therapy clinics.

In general, physical therapy business insurance costs are the following for the four most popular coverage types:

• General Liability: $113 on average per month ranging from $96 to $176 depending on state
• Workers Comp: $7 on average per month ranging from $6 to $8 depending on state
• Professional Liability (E&O): $94 on average per month ranging from $82 to $109 depending on state
• BOP Insurance: $41 on average per month ranging from $35 to $48 depending on state

Physical therapy practices face unique risks from patient injuries during treatment, equipment damage, and professional liability claims. Understanding the required coverage for physical therapists and recommended policies helps you protect your PT clinic from financial losses.

• Workers' Compensation Insurance: Required in most states when you employ physical therapists, PTAs or staff. Covers medical bills and lost wages when therapists strain their backs lifting patients or staff get injured moving therapy equipment. Most PT practices need $1 million per occurrence.
• Professional Liability Insurance (Malpractice): Required in Pennsylvania ($1 million), Colorado ($1 million/$3 million annual), and Texas ($100,000/$300,000 annual). Protects your PT practice when patients claim exercises worsened their injury, manual therapy caused harm or treatment plans failed to deliver expected results.
• General Liability Insurance: Protects when patients fall during gait training, slip on clinic floors, or get hit by snapping resistance bands. Covers medical expenses and legal fees from third-party injuries. PT clinics typically carry $1 million per occurrence coverage.
• Commercial Property Insurance: Covers ultrasound machines, TENS units, treatment tables, exercise equipment and computer systems damaged by fire, theft or storms. Critical for PT clinics with $50,000 or more in specialized rehabilitation equipment.
• Cyber Liability Insurance: Protects when hackers breach electronic health records, ransomware locks your scheduling system or patient data gets stolen. Covers notification costs, credit monitoring and HIPAA fines that can reach $50,000 per violation.
• Business Interruption Insurance: Replaces lost revenue when your PT clinic closes after fire or storm damage. Covers rent, payroll and loan payments while you can't treat patients, helping practices survive temporary closures without draining savings.
• Employment Practices Liability Insurance (EPLI): Covers legal costs when therapists or staff claim wrongful termination, discrimination or harassment. Defends your practice against lawsuits averaging $75,000 to $125,000 in legal fees and settlements.

Finding the best and cheapest business insurance for your physical therapy practice requires comparing quotes and understanding how to get business insurance that matches your clinic's specific needs.

Finding affordable physical therapy business insurance means balancing comprehensive protection with competitive rates. The Hartford earned our top ranking for PT practices with exceptional customer service and the lowest overall premiums at $37 monthly. Physical therapists need professional liability, workers' compensation and general liability coverage to protect against treatment errors and patient injuries. Compare multiple quotes annually to ensure your clinic secures optimal protection.

We answer frequently asked questions about 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 the company 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 providers 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 companies are 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