Speech Language Pathologist Insurance

Insurance packages for speech-language pathologists will typically include the following coverages:

• Professional liability insurance: Also referred to as errors and omissions (E&O) insurance, this policy protects your business against misconduct, negligence, and allegations that you failed to deliver a professional service as expected. For example, if a patient’s parent accuses you of neglecting to help their child’s speech impediment and sues, professional liability insurance could cover your legal fees and potential settlement costs.

• Commercial general liability (CGL) insurance: This policy can cover you for liable events that you might encounter during your day-to-day business operations, such as third-party property damage or third-party bodily injury (e.g. a slip-and-fall). Say a child bangs their head on the corner of the coffee table in your waiting room and needs stitches, CGL could cover the related medical costs.

• Commercial property insurance: If your physical location or business-related assets are damaged or lost during an insured event (a fire, theft, vandalism, for example), commercial property insurance can cover the related costs to repair or replace your property. Suppose your leased office was broken into and vandalized, and your office equipment were stolen. Your commercial property insurance policy could cover the cleanup costs and the costs of replacing your stolen equipment.

• Cyber liability insurance: Cybercrime is, unfortunately, on the rise, so be sure to protect your data against the implications of a cyber-attack. For example, you open a link in a phishing email and, before you know it, clients’ financial data is breached. Cyber liability insurance may cover the costs to repair and restore your damaged software systems, and pay for legal advice and credit monitoring.

• ​​Legal expense insurance: Should you need financial assistance for an event that’s not already covered by your insurance policies, legal expense insurance can often provide it. This policy offsets the costs of hiring and retaining legal representation during an event where legal aid isn’t covered by your commercial insurance (some examples are damage to your property or equipment, or injuries to yourself or an employee).