Medical SPA Insurance
When you own a medical spa, you take on the job of giving guests a relaxing experience while they undergo a variety of treatment options. Whether you’re removing unwanted tattoos, body hair, or acne scars, you surely take pride in your practice. But no matter how experienced your staff is or how clean your medical spa is, there’s always a chance that someone will sue. When that happens, you will need medical spa insurance to fall back on.
General Liability for Medical Spas
In the health field, general liability insurance coverage is important. This will cover anything that goes wrong that is not related to your medical services. So if a patient trips or slips on your property, this coverage will kick in and pay for any necessary medical treatment. It will also pay any property damage claims made by patients, which means if one of their belongings is lost or broken during their appointment, general liability will cover it.
Just as it does in any other field, the general liability policy that comes with medical spa insurance will pay any claims resulting from competitors who claim you copied their ads or website. It will also pay for lawsuits accusing you of libel or slander. Without this coverage on your medical spa insurance, you would be left personally responsible for the damages.
Business Owners (BOP)
Getting a Business owners policy (BOP) allows you to combine the types of coverage you need to protect your medical spa, aside from just general liability. For example, this policy will pay for you to get repairs to the equipment that you need in order to keep providing services to your patients. It will also pay for any repairs that are necessary after a natural disaster or robbery, since the BOP’s coverage extends to the property and its contents. If your business is broken into and medical equipment, supplies, or cash from your business are stolen then the BOP can pay the claim up to the coverage amount you selected.
Professional Liability (E&O)
Even the best practitioners make mistakes. If the next wrinkle treatment or skin tag removal goes wrong and causes injuries to the patient, you will be glad to be protected by this coverage, which is essentially medical malpractice insurance. It will pay for any lawsuits you face, whether as a result of a simple mistake or negligence on the part of you or your staff. This type of medical spa insurance is especially important to have since medical malpractice lawsuits can be very costly.
Workers Comp Insurance For Medical Spas
If you have any employees working for you, it’s important to protect them with workers comp. It’s not unheard of for medical spa staff members to accidentally injure themselves during procedures, considering they use chemicals, sharp tools, and other potentially dangerous items on a regular basis. Fortunately, the workers comp portion of your medical spa insurance policy will pay for their health care and lost wages after they are injured.
The reason for excess liability is to make sure you are covered even in the event of a particularly expensive lawsuit. You never know when you will be sued for an amount that exceeds what your general liability policy will cover. When that day comes, you will be glad your medical spa insurance includes excess liability to pay the additional amount.