Business Insurance for
Doctor & Family Practitioner Insurance
As a doctor, your primary job is to take care of your patients. Independent doctors have offices to run as well however, and a variety of additional responsibilities arise in those cases. You have the added job of making sure your office is both welcoming and safe. You also have employees, suppliers and distributers to take into account. Keep your doctor’s office running smoothly and safely by making sure you carry the right types of business insurance coverage.
General liability is a must-have insurance for all small businesses. As a doctor with your own offices, this insurance is even more important because it helps keep your patients safe and secure. General liability grows as your business grows too, so that you do not have to worry about adding new offices or services that require separate coverage.
General Liability Insurance Includes:
- Premises Liability – Premises liability insurance is part of your commercial general liability insurance that takes care of your customers. If a patient is injured in an accident while at your doctor’s office, premises liability will pay for the costs they incur to receive medical treatment. This coverage applies to property damages as well. If a patient’s property is damaged while on your business premises, the cost of repairs for that property are covered.
- Products Liability – As a doctor you may sell medical or health related products as part of your overall patient services. Sometimes products are found to be defective at a later date however, and those defects can bring harm to your customers. If patients purchase products from you and later are injured or harmed in some way by the products, they may sue your doctor’s office. Products liability pays for damages and claims of this sort so that you don’t have to. This coverage also pays for damages or liability related to mistakes in advertising, and it can help pay for your legal defenses in such cases.
- Completed Operations – Completed operations coverage protects your doctor’s office from lawsuits that arise after you have completed services or operations on your patients. If for example, a general practitioner lances a boil on a patient’s leg, he has completed services for that patient. If the patient later develops problems as a result of that service, he may sue your offices. Completed operations insurance pays for the litigation expenses, settlements and damages.
Business Owners Policy
A business owners policy, or BOP, includes all of the benefits of commercial general liability coverage and adds coverage for tangible and intangible business assets. This insurance is designed to be customized to the particular needs you have as a doctor. Examples of the types of insurance coverage you can select with a BOP include:
- Buildings and Contents
- Business Income and Extra Expense
- Electronic Data
- Newly Acquired or Constructed Buildings
- Employee Dishonesty Coverage
Business auto insurance protects you and your employees in the event there is an auto accident related to your doctor business. If you drive to a medical conference for example, and are involved in an auto accident, your business auto insurance coverage will pay for the related bodily injuries and property damages accordingly.
Doctors employ other people when they run their own independent offices. By law, employers must carry workers comp insurance on all employees. This coverage pays for the employee’s medical bills and related expenses if they are injured on the job.
As a medical professional, you are at risk of making professional mistakes. Malpractice insurance, or professional liability coverage, protects you from legal issues and settlements that arise when you make a mistake while providing professional medical services.
Commercial umbrella insurance provides added protection above and beyond your standard general liability business coverage.