Insurance for Physician’s Offices

Insurance for Physician’s Offices

If you own or manage a Physicians Office, you likely have had to shop your Insurance policies to get the best price. However, there are many coverages that are important for Physicians Offices that may get overlooked. We will break down the most important coverages to help your Physician’s Office be properly protected.

Insurance for Physician’s Offices – Business Owners Policies

Rather than purchasing a standalone General Liability policy, purchasing a Business Owners Policy is often a far superior way to protect your Physician’s Office. Business Owners Policies include General Liability and Business Personal property on a single policy with a single policy number. This convenient and affordable policy often includes several additional important coverages that you will not find on a standalone General Liability policy such as Business Income, Equipment Breakdown, Utilities Backup, and other useful coverages.

Insurance for Physician’s Offices – Errors & Omissions Insurance

Errors & Omissions also referred to as Professional Liability or Malpractice Insurance is absolutely critical for any Physicians Office, regardless of the business operations. Errors & Omissions Insurance protects you against professional services and advice you provide. Again, regardless of your business operations, you should carry some form of Errors & Omissions Insurance. There are many programs available that are specifically targeted to various types of Physician’s Offices.

Insurance for Physician’s Offices – Important Considerations

There are other important coverages that may or may not be needed, depending on your operations. If you have employees, you are required to carry a Workers Comp policy to protect them in case of injury or disease. If your office owns expensive diagnostic or medical equipment, it is critical to have these items specifically scheduled on to your Business Owners Policy. Doing so will assure you receive the proper replacement cost in case of a large loss.

If you would like to learn more about obtaining the proper Insurance coverages for your Physician’s Office, give us a call 925-297-4829.

All information is general in nature and is intended to provide guidance only. It is up to you to request specific coverage options, the agency and agent do not bear this responsibility. Always read the policy if there is a questions about coverage or a claim. If any information herein should conflict with your actual policy’s specific language, the policy language will be controlling.