Dialysis centers serve a critical need to their community and their patients. Owning a dialysis center may be profitable, but it’s also a very big responsibility. This can make your life very stressful. You must keep track of your patient’s health and needs, your employee’s schedules, and manage suppliers, government regulations, administrative paperwork and much more. Ease a bit of your stress by making sure you’re carrying appropriate levels of business insurance coverage.
General liability coverage is a very important form of base level business insurance because it protects your company from a broad variety of potential risks and hazards. This type of insurance is open and expansive in that it protects you from risk that are not specifically excluded on your policy. General liability takes care of things when customers sustain injuries or make legal claims against your business. This insurance expands its protection automatically as your business grows. when you add new dialysis center locations or services your policy protects them from the start. Areas of coverage in a general liability policy include:
General Liability Insurance Includes:
- Premises Liability – Premises liability protects your dialysis center from major financial catastrophes that can arise if a client is injured in an accident while on your business premises. If someone trips over a machine cord for example, and falls and hits their head on a the side of a chair, your premises liability can pay for the medical treatment they will require for the injuries. Likewise, if a customer’s personal property is damaged while at your business location, premises liability insurance will pay for those repairs.
- Products Liability – Products liability insurance helps pay for your legal defense costs if a customer sues you because of products you sold to them. When those products were defective and brought physical harm to a person, they may sue your dialysis center. Your products liability can pay for their injuries or damages, and it can pay settlements and awards.
- Completed Operations – After you have completed the services to your customer’s, they may feel that the services you provided caused them harm. Your completed operations insurance will pay for injuries and damages if applicable, as well as pay for your legal defense costs.
Business Owners Policy
General liability insurance is included by default as part of business insurance known as a business owners policy, or BOP. A BOP provides protection for your company’s business assets. This insurance provides coverage for tangible or intangible business assets, such as your dialysis machines or your accounts receivables. A BOP can be custom configured to provide just the coverage you need for your company. Coverage options include:
- Buildings and Contents
- Business Income and Extra Expense
- Electronic Data
- Newly Acquired or Constructed Buildings
- Employee Dishonesty Coverage
If you or your employees drive a vehicle as part of your business responsibilities, a business auto insurance policy is needed. This coverage prevent’ your company from suffering financial losses that are often caused by auto accidents. Business auto insurance pays for bodily injury treatments and property damage repairs when applicable, and can protect you from having to pay for damages caused by uninsured motorists, fire, theft and other common hazards.
Workers comp insurance protects your dialysis center employees. If they are injured while performing their work duties, this coverage will pay for the medical care and recovery bills.
Professional liability insurance is another name for errors and omissions coverage. Your dialysis center provides professional medical services to its clients. If professional mistakes are made by you or your staff, this insurance can pay for the damages as well as provide for your legal defenses.