Skip to main content

Business Insurance





One purchase to consider for your new business is the proper type of insurance. Many companies that offer personal home, car and life insurance also have commercial plans. You may receive a discount by adding another insurance plan under your established carrier. All clinicians must have malpractice insurance but other types exist as well including


  • General liability AKA "slip and fall" coverage
  • Professional Liability- group policies typically include liability insurance for the business and the individual 
  • Business Property Insurance
  • Errors and Omissions 
  • Auto Coverage- to cover driving clients around town
  • Dog Bite Coverage- if animal assisted therapy is used in the practice
  • Comprehensive Equine Liability- if equine therapy is used in the practice

Some of these policies are offered by specialized companies so be sure to understand the policy and get several quotes before committing to a carrier. Insurance companies that offer commercial services may "bundle" several services together at a lower rate. 

Comments

Post a Comment

Popular posts from this blog

Federal Tax Payments

Federal taxes as a self employed individual and for a business operate differently then other employment arrangements. You will pay your typical percentage of tax withholding plus an additional self employment tax. Self employment tax is currently about 15%.  The rate consists of two parts:  12%  for social security (old-age, survivors, and disability insurance) and  3%  for Medicare (hospital insurance). Essentially self employment tax is the amount a company pays on your behalf when you work for them. Since you are now self employed, you are responsible for both chunks of the payment. Depending on how you established your practice as a legal entity alters how the business is taxed.   Remember that the legislators of the country reform tax law often and your tax liability may change with new laws. Consider having an CPA in your community complete your taxes rather than an online service. This can maximize your deductions....
Post a Comment
Read more

Ongoing Advertising for Small Practices

Marketing is an essential part of your practice. Consistently getting your business' name and expertise into the community increases the clients that "self refer" to you. Word of mouth advertising is an excellent way to begin. Contact your professional and personal contacts at let them know you are accepting referrals. Let current clients know of your appreciation for new referrals and possibly offer $10.00 off their bill for each new referral. Listed below are additional avenues to consider in marketing your private practice. Online Directory Listing Business Facebook Page Instagram Page Google AdWords Website (pay for SEO upgrade) Sponsor local events- bowling team, little league team Offer trainings to professional entities such as State workers Offer a free workshop once a month to the community
Post a Comment
Read more

Getting Your Name into the Community

It is never to soon to begin getting your name into the community as private practice practitioner. Think about who your ideal clients are and where they gather to shop, go for medial care, take their children for education, go for entertainment, etc. Think about professional offices that treat clients with unmet mental health care needs: doctors offices, laboratories, occupational therapists, counselors at schools and colleges etc. Then start calling and setting up short meetings with the staff to "pitch" your practice. Remember to illustrate what sets your practice apart from others. If a meeting with the staff is not possible, ask to leave information about your business at the front or hang a flyer on the wall. Follow up with the businesses several weeks later to check in. Also discuss the possibility about cross referrals with the businesses you visit. Be sure to take these items with you to the "pitch" meeting Business Cards Brochures Flyers Snacks ...
1 comment
Read more