Caring for your patients may be your number one priority as a hypnotherapist. But while you help guide them to greater health and peace of mind, the risks of your job may always be on your mind.
Hypnotherapists face many on-the-job risks that are unique to their job, as well as all the challenges of running a small business. Events as varied as making an innocent mistake, extreme weather, or accidentally downloading a computer virus could all impact how well you can do your job. You might want to consider protecting yourself and your business with insurance.
Hypnotherapists face unique risks.
Every small business faces workplace hazards and challenges. For hypnotherapists, many of these risks come from the type of work you do and your relationship with your patients.
Working with patients
Providing a health service to others and giving them advice could leave you vulnerable to claims of negligence or professional wrongdoing. You may also store sensitive information about your patients and are responsible for keeping these details secure.
You regularly invite patients into your office or may treat them in their homes or other settings. This creates the potential for accidents, such as injuries or property damage, to occur.
Running a small business
Beyond risks that are unique to hypnotherapists, you likely face many challenges that are common to small business owners. Everything from a stolen laptop to an employee injury could negatively impact your business finances.
What types of insurance do hypnotherapists consider?
Hypnotherapists consider many types of insurance to meet their unique business needs. These may include:
Professional Indemnity
As a hypnotherapist, you provide patients with a specialist service and may make recommendations based on your expertise. A patient could claim a financial loss if that advice is misinterpreted, or they feel you acted negligently while treating them.
Professional Indemnity insurance covers you for losses claimed by a third party due to alleged or actual negligence in your professional services or advice. This includes defence costs cover.
Putting your reputation on the line
Negligence lawsuits and other allegations of professional wrongdoing are serious. They can impact your professional reputation, and defending yourself against them could drain your bank account. For many hypnotherapists, a Professional Indemnity policy is an essential part of protecting their small business and reputation.
Public Liability
Your office is a safe space for patients, but accidents happen. A simple trip and fall over a mislaid rubbish bin could cause a patient to injure themselves. Depending on the circumstances, you could be liable for their medical bills and other compensation.
Public Liability insurance covers you if a third party claims that your negligent business activities caused them property damage or personal injury (not covered by the ACC). This includes defence costs cover.
What if you work from home?
Many hypnotherapists work from a home office and may not worry about the types of risks that Public Liability insurance covers. However, a patient can be injured or have their personal belongings damaged in a home office just as they can in any public workplace. If you invite people into your home for treatment, you may want to consider a Public Liability policy.
Cyber Liability
Many hypnotherapists store sensitive personal information about their patients on computers, other internet-connected devices, or through the cloud. Unfortunately, this makes your business vulnerable to hacks, viruses, privacy breaches, and other cyber-attacks. If this information were to be compromised, it could seriously impact your ability to treat patients.
Covers you for losses from claims arising from data breaches, business interruption and remediation costs following an actual or threatened data breach.
Hackers don’t care how small your business is.
Cyberattacks are on the rise, with CertNZ stating that incident reports made by small businesses have steadily increased every year since 2017, with big jumps in the first half of 20221. In fact, small businesses are often an easy target because they are typically far less protected than big corporations.
Business Insurance
If you own the building where you provide hypnotherapy treatments, you might want to consider insuring it as well. Your physical premises and the contents you keep inside it are likely essential to running your business and creating a comfortable and welcoming environment for your patients.
Business Insurance is an insurance package designed to provide cover for your business contents, stock, tools and commercial premises when an insured event occurs (such as fire, storm, theft or even accidental damage). A Business Insurance policy can also cover your portable equipment and loss of revenue due to business interruption in specified circumstances.
Customise your cover
You can tailor your Business Insurance package to include just the cover options that fit your business needs. This might include Business Interruption for unplanned disruptions to your regular operations, Portable Equipment for your business laptop and mobile phone, or Property (Contents) for furniture, fixtures, and similar items in your office.
Insurance for Hypnotherapists
Business insurance could give you greater confidence and peace of mind as you treat your patients. If the worst happens, you’ll be protected from expensive out-of-pocket bills and calls for compensation. And with BizCover, you can find cover right now!
Compare quotes from leading NZ insurers and buy online instantly—no paperwork required. Start now!
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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