4 Reasons Medical Offices Need Insurance

Medical office insurance

Running a medical office can be very rewarding. Whether you’re a dentist, a general physician, a podiatrist, or another kind of medical professional, people come to you with problems that you can help solve.

However, with a medical office, there are many things to keep track of. You and your employees have to maintain patient and billing records, schedule appointments, handle lab results, and much more.

With so many tasks and patients to take care of, there’s always a chance something could go wrong. For example, someone could get injured in your office, or your digital records could be compromised.

Of course, your first concern is for your patients. But you are also running a business, and you need to ensure you keep your risks and losses to a minimum. The best way to protect yourself is to have medical office insurance, which can be customized specifically to suit your needs.

In this article, we will address:

  • The five reasons your medical office needs insurance
  • Different types of medical office insurance
  • How Bow Valley Insurance can design a customized medical insurance package to suit your needs.

Medical Insurance Protects Your Property and Your Physical Patient Records

You need your property up and running to be able to run your business properly. Your medical office contains all of your computers, files, electronic equipment, and more. If your business is damaged — e.g. by a fire or a storm — you would have to close it.

If this happens, property insurance provides all the protection you need. It ensures you have the funds you need quickly to get started making repairs and replacing destroyed equipment. Property insurance can provide coverage for lost business income while your medical office is closed.

Another physical aspect of your office is your patient files and records. While much information is now stored online, most medical offices also keep paper copies of their files and patient records. Medical records insurance can help get you back on your feet if your paper files are destroyed when your office is damaged.

Cyber Insurance Protects You if Your Clients’ Information is Compromised

Unfortunately, data breaches and cyber attacks are becoming more and more common. You likely keep all of your most sensitive client information in a database – the last thing you want to happen is for it to be hacked.

While cyber insurance can’t help keep you from getting hacked, it can protect you if your client records are breached. Cyber insurance helps cover the costs associated with cyber breaches.

Liability Insurance Protects You in a Variety of Situations

The first type of liability insurance you need to protect yourself is general liability insurance. This type of insurance provides coverage from legal and medical costs if someone is injured on your premises. Don’t let a slip and fall on your property destroy your business — make sure you’re protected with general liability insurance.

The second type of liability insurance you need is professional liability insurance – also referred to as errors and omission insurance. This type of insurance is critical for medical professionals.

If your office makes an administrative or lab error or any other kind of mistake that leaves it open to a malpractice lawsuit, professional liability insurance will cover medical and legal costs associated with the claim.

Crime Insurance

Another thing you need to consider is that your office could be the victim of a crime – either from your employees or your patients.

You could have medications or money stolen, or be the victim of embezzlement from an employee who works in accounting or bookkeeping.

In any of these situations, a crime insurance policy will help protect you.

How can Bow Valley Insurance help you?

At Bow Valley Insurance, we can offer you a choice of Office Packages from leading insurance companies. We’ll make sure that you get the right coverage at the most competitive price — we’ll even show you the rate comparisons!

A standard Office Package policy can provide coverage for the following:

  • Your office assets such as your furniture, computer equipment, leasehold improvements
  • Business interruption, extra expenses and various types of liability — general and professional

We can work with you to discuss how much coverage you need in each area — and what is and isn’t covered by different types of insurance. Our goal is to make sure that you can focus on running your medical practice day-to-day without having to worry about your insurance coverage.

And if something does go wrong, you can rest assured you’re in good hands. At Bow Valley Insurance, we want you to know that having medical office insurance with us means you’re well taken care of. We’ll work with you to make sure you get your claims reimbursed quickly, and that you have everything you need to get back your business up and running again!

You’re Ready to Get Started

You’ve learned that there are numerous main reasons you need to have insurance for your medical office. We’ve talked about the following:

  • The four reasons your medical office needs insurance
  • About the different types of medical office insurance can help protect you
  • How Bow Valley Insurance can give you a customized medical insurance package.

To learn more about insurance for medical clinics, call Bow Valley Insurance at 587-855-9918 or contact us here.


Coverage is subject to policy wording, terms, conditions, and deductibles. Protection is limited to the perils, coverage, exclusions, and limits shown on the policy.