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What is insurance for psychologists?
Having business insurance is an important part of protecting your practice and your livelihood against damaging allegations and risks. Psychologist insurance (the different types of business insurance designed for psychologists) helps cover the cost of common claims, such as mistakes, omissions or breaches of duty.
The Psychology Board also states that the minimum level of Professional Indemnity insurance a psychologist is required to obtain is $2 million cover for any one claim and at least one automatic reinstatement or equivalent.
Other requirements include:
- Civil liability cover;
- Unlimited retroactive cover, or the equivalent, and
- Run-off cover, which should be maintained for at least seven years
For more information contact the Psychology Board of Australia.

Why do psychologists need insurance?
Psychologists may need business insurance to operate in Australia, meet legal obligations and cover unexpected bills.
Meet the requirements of the Psychology Board of Australia
Lease an office or clinic space
Manage a cyberattack
Pay legal costs if you face a liability claim
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What types of insurance do psychologists need?
We offer a range of policies designed to cover your business, employees and services. Build an insurance package that suits your needs and buy in minutes.
Popular cover types for psychologists:
Psychologists could also consider:
How much does psychologist business insurance cost?
The average cost of business insurance for psychologists is $49 with BizCover. However, the cost of your policies will depend on different factors, such as the services you provide and the size of your business.


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See how much others have saved while purchasing policy through BizCover
^ Savings made from January 2024 to April 2025. This information is provided as a guide only and may not reflect pricing for your particular business, as individual underwriting criteria will apply.
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