The Hartford earned our top spot for the best small business insurer for speech therapist companies due to its affordability and coverage. However, we recommend comparing quotes from our other top picks, including NEXT, Simply Business, and Progressive Commercial.
Best Speech Therapist Business Insurance
Updated: June 30, 2025
Advertising & Editorial Disclosure
Key Takeaways
The Hartford is the best business insurance company for speech therapist firms because it offers the greatest balance of affordability and customer service.
The cheapest overall commercial insurance provider for speech therapist businesses is The Hartford, with low monthly rates for various coverage types.
To shop for business insurance for your speech therapist business, assess the risks in your industry, consult agents and other similar organizations, and compare multiple options.
Best Business Insurance for Speech Therapist Companies
| The Hartford | 96 | 98 | 91 |
| NEXT | 95 | 94 | 94 |
| Simply Business | 91 | 91 | 83 |
| Progressive Commercial | 89 | 94 | 81 |
| Coverdash | 89 | 89 | 83 |
| biBerk | 89 | 88 | 91 |
| Hiscox | 88 | 90 | 87 |
| Thimble | 88 | 91 | 81 |
| Nationwide | 88 | 83 | 91 |
| Chubb | 85 | 80 | 87 |
*All scores were based on a speech-therapist business with two employees across professional liability, general liability, workers' comp and BOP policies.
1. The Hartford
pros
Cheapest professional liability insurance
Strong financial stability (A+ AM Best)
Comprehensive policy options
cons
Limited online quote flexibility
COMPANY HIGHLIGHTS
The Hartford is the top pick for speech therapist companies thanks to its affordable and well-rounded coverage. It offers the cheapest professional liability insurance at $88 per month, critical for clinicians exposed to malpractice claims. The Hartford is backed by an A+ rating from AM Best, reinforcing its reputation for claim reliability.
Its policies are tailored for healthcare professionals and include coverage options for errors, office space, and employees. While the digital quote process is more traditional, many therapy-focused practices value The Hartford’s underwriting depth and customer service.
2. NEXT
pros
Strong customer review scores
Easy online purchase experience
Solid coverage pricing
cons
Higher general liability premiums
COMPANY HIGHLIGHTS
NEXT is a solid runner-up for speech therapists who prioritize convenience and digital control. It offers one of the lowest rates for workers’ comp at just $3 per month and has competitive pricing on professional liability as well. NEXT is especially helpful for solo practitioners and small group practices, offering 100% online policy management.
With a 4.7-star rating from over 3,000 customers, it stands out for its user experience and responsive support. While general liability costs run higher, it may still be worth it for therapists who want full visibility and flexibility in their policy setup.
3. Simply Business
pros
Cheapest BOP insurance
Competitive general liability rates
Multiple carrier access
cons
Service varies by carrier
COMPANY HIGHLIGHTS
Simply Business is the most affordable option for bundling liability and property coverage, offering a BOP at just $30 per month. It also ties with Nationwide for the speech therapy businesses' cheapest general liability insurance.
Simply Business acts as a broker, giving users access to multiple insurers in one place. This makes it a good fit for businesses that want to compare quotes across providers without extra legwork. However, since partner carriers handle claims and support, customer experience may differ depending on the insurer selected.
Cheapest Business Insurance for Speech Therapist Firms
Based on our study of business insurance pricing, Simply Business and Nationwide offer the cheapest overall commercial insurance for speech therapist companies. However, this applies only to speech therapist 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 Speech Therapist Companies
With an average monthly rate of $20, Simply Business and Nationwide offer the lowest-cost general liability insurance for speech therapist companies. Even so, consider getting quotes from the next-most-affordable insurers: The Hartford and biBerk.
| Nationwide | $20 | $240 |
| Simply Business | $20 | $240 |
| The Hartford | $27 | $323 |
| biBerk | $28 | $338 |
| Coverdash | $29 | $346 |
| Progressive Commercial | $32 | $388 |
| Hiscox | $35 | $425 |
| Thimble | $35 | $415 |
| Chubb | $40 | $478 |
| NEXT | $53 | $632 |
Cheapest Workers' Comp Insurance for Speech Therapist Companies
For speech therapist businesses shopping for workers' comp insurance, Thimble tops our list as the most affordable insurer, with average rates of $3 per month or $31 yearly. Still, it’s worth checking quotes from other low-cost insurers like Progressive Commercial, Coverdash, Hiscox, and Simply Business.
| biBerk | $3 | $36 |
| Chubb | $3 | $42 |
| Coverdash | $3 | $35 |
| Hiscox | $3 | $35 |
| Nationwide | $3 | $39 |
| NEXT | $3 | $36 |
| Progressive Commercial | $3 | $33 |
| Simply Business | $3 | $35 |
| The Hartford | $3 | $35 |
| Thimble | $3 | $31 |
Cheapest Professional Liability Insurance for Speech Therapist Companies
The Hartford offers the most affordable professional liability insurance options for speech therapist companies, with low average monthly rates of $88. You may also want to compare prices from other low-cost providers like NEXT, Progressive Commercial, and Thimble.
| The Hartford | $88 | $1,056 |
| NEXT | $93 | $1,114 |
| Progressive Commercial | $94 | $1,125 |
| Simply Business | $97 | $1,167 |
| Thimble | $97 | $1,158 |
| Hiscox | $98 | $1,177 |
| Coverdash | $100 | $1,197 |
| biBerk | $101 | $1,217 |
| Nationwide | $107 | $1,287 |
| Chubb | $115 | $1,382 |
Cheapest BOP Insurance for Speech Therapist Companies
Simply Business provides the most affordable business owner's policy (BOP) coverage for speech therapist companies, with an average yearly cost of $359 for bundled general liability and property protection. This is around $1 cheaper yearly than the next cheapest provider, Nationwide.
| Nationwide | $30 | $360 |
| Simply Business | $30 | $359 |
| The Hartford | $34 | $410 |
| biBerk | $36 | $435 |
| Coverdash | $42 | $502 |
| Progressive Commercial | $48 | $579 |
| Hiscox | $53 | $634 |
| Thimble | $53 | $640 |
| Chubb | $59 | $712 |
| NEXT | $76 | $915 |
What Type of Coverage Do You Need for a Speech Therapist 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 also require businesses to carry general liability insurance before beginning work. A surety bond may also be necessary in certain industries, especially when contracts require guarantees of service or compliance.
RECOMMENDED BUSINESS COVERAGE FOR SPEECH THERAPISTS
Most speech therapist businesses should carry general liability insurance, even if it’s not legally required, as it protects against common risks like bodily injury, property damage and legal defense costs. Professional liability insurance is also a smart option for businesses that work under client contracts or provide specialized services. This coverage becomes useful for companies offering specialized services or handling large contracts.
Coverage Recommendations by Speech Therapist Company Type
We've broken down risk considerations and coverage recommendations by speech therapist business type, ordered from highest to lowest risk for claims frequency. Coverage needs can vary based on the service offered, so businesses facing higher risks should consider more comprehensive coverage.
Speech Therapy Company Type | Coverage Types Recommendation | Most Common Insurance Claims | Most Common Reasons For Litigation |
|---|---|---|---|
Multi-location Speech Therapy Clinics | Professional Liability (high limits), General Liability, Workers’ Comp, BOP, Commercial Property, Employment Practices Liability (EPLI), Umbrella Policy ($2M+) | Patient injury on-site, misdiagnosis or delayed treatment, therapist injuries, wage and hour claims | Malpractice lawsuits, employee injury claims, discrimination or wrongful termination suits |
In-home Pediatric or Geriatric Speech Therapy | Professional Liability, General Liability, Commercial Auto, Workers’ Comp (if applicable), Abuse & Molestation Coverage, Umbrella Policy | Injury during home visits, allegations of abuse or misconduct, property damage, auto accidents | Accusations from family members, injury claims in patient homes, allegations of boundary violations |
School-based Contract Therapists | Professional Liability, Workers’ Comp, General Liability, Abuse & Molestation Coverage, Errors & Omissions (E&O) | Student injury, recordkeeping errors, mandated reporting failures, emotional distress | Lawsuits from parents or school districts, FERPA compliance disputes, injury during school activities |
Private Practice Offices (Solo or Small Group) | Professional Liability, General Liability, BOP, Workers’ Comp (if applicable), Cyber Liability | Claims of ineffective treatment, slip-and-fall injuries, tech or EMR issues | Malpractice claims, breach of patient data, premises liability suits |
Online-Only Speech Therapy Providers | Professional Liability, Cyber Liability (high limits), Business Personal Property (equipment), General Liability (optional) | Data breaches, session disruptions, educational complaints, technology failures | Privacy violations, claims of ineffective virtual treatment, service delivery issues |
Mobile/Traveling Therapists | Professional Liability, Commercial Auto, General Liability, Inland Marine (for equipment), Workers’ Comp | Auto accidents, lost/stolen equipment, patient injuries at off-site locations | Car accident liability, lost equipment disputes, injury liability during mobile sessions |
How to Get the Best Cheap Business Insurance for Your Speech Therapist Company
Here's a step-by-step method for finding the best and cheapest business insurance for your speech-therapist company.
- 1
Decide on coverage needs before buying
Take into account specific risks for your business for claims, obtain advice from similar businesses 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 start with.
- 3
Look into company reputations and coverage options
Investigate what customers say on online rating sites and forums to provide a comprehensive look at company services. Research coverage options to make sure you're covered for the right items.
- 4
Compare multiple quotes through different means
Comparing many quotes from different sources is a good idea. Pricing differs by your method of comparison, namely, 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 Speech Therapist Business's Liability Risk
Reducing risk is important for managing your insurance costs as a speech therapist business. We've organized risk mitigation strategies based on your business type or risk level to help you find the best approach.
Speech Therapy Risk Type | Included Types of Speech Therapy Businesses | Risk Mitigation Tactics |
|---|---|---|
Highest | Multi-location clinics, in-home therapy for minors or seniors, school-based therapists | Maintain written treatment plans and signed consent forms. Require abuse prevention and mandated reporter training. Conduct background checks and clear boundaries policies. Enforce strict protocols for handling injuries, privacy, and session documentation. |
Moderately High | Mobile/traveling therapists, solo pediatric therapists working in homes | Use commercial auto coverage and log all travel activities. Protect equipment with locks and insurance. Require written agreements with patients or guardians. Create incident documentation protocols for visits in client homes. |
Moderate | Private practice offices, hybrid models (in-person + online) | Set up accessible, hazard-free office layouts. Display HIPAA and patient rights documentation visibly. Maintain cyber protections for EMR systems. Require clients to sign informed consent and telehealth disclaimers. |
Moderately Low | Online-only therapy platforms or independent online therapists | Use HIPAA-compliant video software and secure EMR tools. Provide clear treatment limitations and disclaimers for virtual therapy. Ensure platform access is password-protected and updated regularly. |
Lowest | Solo practitioners with minimal physical contact or virtual-only service | Implement client intake forms and consent documentation. Keep treatment records securely stored. Avoid guarantees of treatment outcomes. Maintain professional liability coverage even with low physical risk. |
Best Insurance for Speech Therapist Business: Bottom Line
The Hartford is the best speech therapist business insurance insurer, offering top-rated coverage and the most affordable rates. We also recommend getting quotes from NEXT and Progressive Commercial. For the best deal, talk to agents, research providers and pricing, and compare multiple quotes.
Speech Therapist Business Insurance: FAQ
Here are answers to frequently asked questions about insurance for speech therapists.
Who offers the best speech therapist business insurance overall?
Hartford provides the best business insurance for speech therapists, with a MoneyGeek score of 95 out of 100, which excels in all key areas. NEXT closely follows.
Who has the cheapest business insurance for speech therapist companies?
Here are the cheapest business insurance companies for speech therapist companies by coverage type:
- Cheapest general liability insurance: Simply Business and Nationwide at $20 per month
- Cheapest workers' comp insurance: Thimble at $3 per month
- Cheapest professional liability insurance: The Hartford at $88 per month
- Cheapest BOP insurance: Simply Business at $30 per month
What business insurance is required for speech therapist organizations?
Workers' compensation insurance (if you have employees) and commercial auto insurance (if you own business vehicles) are legally required for speech therapist businesses. While not legally mandated, general liability insurance and surety bonds are effectively required by most commercial clients and property leases.
How much does speech therapist business insurance cost?
Business insurance costs for speech therapist companies vary based on size, location, and risk. For companies with two employees, here are the average monthly premiums by coverage type:
- General Liability: $20 per month
- Workers' Comp: $3 per month
- Professional Liability: $88 per month
- BOP Insurance: $30 per month
How We Chose the Best Speech Therapist Business Insurance
We selected the best business insurer for speech-therapist 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.