Commercial Insurance For Small Business

commercial insurance for small business
Cost of insurance for a physical therapy center?

I’m doing a class project where I have to write a business plan for a small physical therapy practice and I need to know what kind of insurance I would want and the approximate cost. It looks like we would need general liability insurance, Professional Liability Insurance and Commercial Property Insurance. Our fictitious business has 3 owners that are also employees. Thank you for your help

Dude, it depends on a TON of things that you didn’t mention. Do you own the building? How big is it? What protection class, and what construction? What deductible, and what coverages?

You will ALSO need workers compensation, for your three owners who are also employees.

Professional liability will depend on a wild number of factors, but figure $5,000 per therapist. Property insurance, figure 8% of the total value of the property, or $1,000, whichever is higher. General liability, figure about $2500 with three practicioners. Workers comp, figure . . hmm. Three owners, subject to owners minimums, it’s probably going to run you around $4500.

Progressive Commercial Insurance Customer – Inn the Doghouse