Why do physiotherapists need insurance?

Just like any small business, physiotherapists face on-the-job risks. This could be anything from misdiagnosing a patient to having someone fall and injure themselves while on the business premises. These risks may put your PT business under serious financial stress. That’s where business insurance comes in, which you may wish to consider for your physiotherapist practice.

Did you know?

All registered physiotherapists are legally required to hold valid Professional Indemnity insurance, as per AHPRA Physiotherapy Board guidelines.

What types of business insurance do physiotherapists need?

Professional Indemnity insurance

Professional Indemnity insurance* covers you from claims of alleged or actual professional negligence. For a physiotherapist, this could mean misdiagnosing a patient, using an incorrect technique on a patient, or even a simple lack of communication that could lead to improper care.

Even if you have closed your business, a claim could be made against you. Adding run-off cover to your policy may also be a good idea, as it protects you for a period after you’ve cancelled your Professional Indemnity insurance and are no longer actively practicing.

Public Liability insurance

As an allied health professional, you may work from your own practice, make home visits to patients, or tend to your clients in a hospital or care facility. Public Liability insurance* is there to protect you if someone is injured or sustains property damage due to your negligent business activities. Even a client’s slip and fall could lead to a claim against your business.

Business Insurance

There are many different types of insurance that fall under the category of business insurance. As a physiotherapist, you may find it beneficial to consider policies such as Contents, Theft, Building and Business Interruption insurance.

Personal Accident and Illness insurance

The role of a physiotherapist is to look after others and help them get back on their feet. But if you have been injured or become sick, who will look after your business while you recover? Personal Accident and Illness insurance* can reduce the impact on your physiotherapy practice if you are unable to work due to accidental injury or illness.

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How much does insurance for physiotherapists cost?

Physiotherapists pay an average of $69.91 per month for their business insurance with BizCover ^†. That’s based on the nearly 400 physios who got insurance with us in 2023.

As with all types of business insurance, many factors determine the cost of business insurance for your physiotherapy practice, including the type of cover options taken and where your business is located.

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†Customer Average Monthly Payment Report is based on FY2023 and presented as a guide only. It may not reflect pricing for your particular business, as individual underwriting criteria will apply.
This information is general only and does not take into account your objectives, financial situation or needs. It should not be relied upon as advice. As with any insurance, cover will be subject to the terms, conditions and exclusions contained in the policy wording.
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*Price of $31.03 p/month is based on $250K Professional Indemnity and $10M Public Liability cover for a self-employed Physiotherapist in NSW earning $75,000 as of 25th July 2023. This price is provided as a guide only and may not reflect pricing for your particular business, as individual underwriting criteria will apply.