Plastic Surgery Center Insurance
Owning a plastic surgery center can be very lucrative and popular. You have clients that want your services so that they can look and feel better about themselves. You also may have clients that were born with physical defects or that were severely injured in an accident. Your services do a lot of good for patients, their families and your community. Keeping your company running smoothly and profitably is important to its long term success. One way to help with that success is to protect it from potential risks with business insurance for plastic surgery centers.
General Liability Policy
At the base level, your plastic surgery center should carry commercial general liability coverage. This is a broad level of protection against potential accidents and unexpected events. General liability will protect your company legally as well as financially. It will also provide protection from loss and injury for your customers and surgery center visitors. General liability is the first level of coverage recommended because it expands with your company automatically. You don’t have to specifically write in new surgery center locations, services or products on your policy to have them covered. They are included on your policy from the start. Some of the primary ways this insurance provides your company with coverage includes:
General Liability Insurance Includes:
- Premises Liability – When a patient, potential client, loved one or other visitor comes into your surgery center they fully expect to be safe while there. Accidents can and do happen however. These accidents can physically injure a person or they can cause damages and loss to a visitor’s personal property. Premises liability insurance covers premises related bodily or property related damages and injuries.
- Products Liability – If your plastic surgery center sells products to its customers that opens your business up to risks of litigation when something goes wrong. If a product is defective or harmful in some way, customers may sue you for those injuries and damages.
- Completed Operations – Sometimes problems are not discovered or claimed until after your company has provided services and completed the contracted agreement. When allegations arise that claim that your company caused physical harm or property damages, this section of your liability insurance policy provides you with both legal and financial protection.
Business Owner’s Policy
A business owners policy (BOP) provides your company with specific and direct coverage protection for your business assets. This type of business insurance includes general liability by default, and allows you to add additional types of coverage for either physical assets such as your plastic surgery building, or intangible assets such as digital reconstruction software. A BOP can be tailored to provide your plastic surgery center with only those types of asset protection you need. Examples include:
- Buildings and Contents
- Business Income and Extra Expense
- Electronic Data
- Newly Acquired or Constructed Buildings
- Employee Dishonesty Coverage
Business Auto Insurance
Business owners and their employees may sometimes travel by car frequently for work reasons. When you increase the amount of travel, you also increase the risk potential for having an auto accident. A business auto insurance policy protects you from the common problems that arise when accidents occur. It helps offset your out of pocket expenses when auto accidents cause property damages or physical injuries for example, and you can add options to protect you from losses caused by fire, theft, rollover accidents and other hazards.
Workers Comp Insurance Policy
The employees that staff your plastic surgery center must be protected with workers comp insurance. This is usually required by law across most of the nation. If an employee is physically injured on the job, this coverage pays the related bills and expenses that arise as part of their recovery.
Commercial umbrella insurance protects your plastic surgery center beyond the limits of your other business insurance policies. If you exhaust the maximum benefit limits of your other commercial policies, they will be unable to cover additional damages, settlements or awards. Umbrella coverage provides coverage over and above those limits to help protect your company from having to pay out of its own funds.