From medical offices to laser eye centers, small businesses can recover from litigation and losses with the right coverage. These policies protect against the most common risks of running a healthcare facility.
This insurance policy covers third-party lawsuits, such as a patient suing over a slip-and-fall injury or property damage that happened at your medical facility.
A business owner's policy, or BOP, is a cost-effective way for medical professionals to buy general liability coverage and commercial property insurance together.
Most states require workers' comp for healthcare facilities that have employees. It also protects sole proprietors from work injury costs that health insurance might deny.
This policy is also called errors and omissions (E&O) insurance, can cover legal costs if a practice is sued for negligence that led to an injury.
Commercial auto insurance covers expenses if a vehicle owned by your healthcare facility gets into an accident. It also covers vehicle theft and vandalism.
Cyber liability insurance can help your medical facility recover from a data breach or cyberattack, such as a hacker stealing sensitive patient information.
It’s easy to find insurance for healthcare facilities. Whether you operate an outpatient facility, surgery center, or provide telemedicine services, you’ll need to have some basic information about your business available.
Our application will ask you for your annual revenue and payroll, among other details. You can buy a policy online and access a certificate of insurance with Insureon in three easy steps:
Insureon's licensed insurance agents work with top-rated U.S. providers to find the right coverage for your risk management plan, whether you’re a therapist at a small medical office or maintain a large-scale dialysis center.
Healthcare facilities aren't mandated to offer or provide medical malpractice insurance, sometimes called medical professional liability insurance, for their physicians or staff members. However, depending on state laws, most facilities often have insurance requirements that physicians and certain staff members must meet in order to work at the facility.
Additionally, it can also be beneficial for healthcare facilities to carry malpractice insurance. Should a patient claim your facility as secondary in their malpractice lawsuit, you could face indirect liability and be held responsible for the medical service of all healthcare professionals working on behalf of your organization.
Having the proper medical liability coverage could protect your healthcare facility from exposure to direct and indirect liability.
There are several additional insurance policies for medical businesses to safeguard you and your facility from common risks and the resulting financial losses.
Fidelity bonds, a type of commercial crime insurance, would cover the cost of reimbursing patients should and employee commit fraud or theft under your business name. It's important to note that your business would have to repay the bond company for the cost of the reimbursement.
Surety bonds act as financial guarantee that your healthcare facility will operate lawfully under all state laws and federal regulations. Depending on where your center is located, a surety bond might be required before your business can begin operations.
Business income insurance, sometimes called business interruption insurance, covers financial losses if your business is forced to close temporarily due to a fire or extreme weather. It can often be added to a business owner's policy.
Equipment breakdown coverage is a form of commercial insurance that provides funds to repair or replace damaged machinery or equipment that's suffered a mechanical or electrical failure.