Medical Office Insurance
As a healthcare practitioner, your primary concern is the safety and well-being of your patients. But who’s looking after you? A thriving practice and a conducive, healing environment begin with a secure clinic, complete with state-of-the-art equipment.
A medical office insurance policy protects your clinic or medical office, ensuring that you have access to a conducive space for treating patients and generating innovations on patient care.
With comprehensive financial and liability protection, it’s possible to deliver excellent medical care and treatments, without the risk of interruption to your leading work.
What is Office Medical Insurance?
Medical office insurance is specialized coverage for clinics and healthcare facilities. At its core, it’s similar to the typical office insurance package — it covers damage to the office in case of fire, vandalism, and other disasters, lost income due to forced closure during reparirs, and the cost of liability claims, such as if patients are injured in the facility and bring personal injury lawsuits against the clinic.
But medical office insurance is more than that; this comprehensive policy is designed to cover the specialized tools and equipment used in your medical practice. It covers the basics of an office insurance package while providing extended options for protecting patient information against a data breach, billing errors, injuries, and other essential aspects of providing leading healthcare.
Do I Need Medical Office Insurance?
It’s common to think that standard commercial property insurance is adequate for protecting a medical office or building, but is it? A commercial property policy is only designed to cover the structure itself in case of damage, without offering comprehensive protection for specialized medical equipment and clinic contents.
Just like the medical care you provide your patients, you know that there’s no cookie-cutter solution to protecting your assets and securing your assets. A thriving medical practice requires tailored insurance solutions to enable continued — and successful — patient care. A comprehensive medical office insurance policy helps you achieve that.
Ask Our Brokers
- Tell us about your medical office: what type of medical office, clinic, or healthcare facility do you operate? Our insurance brokers will need to know about your medical practice, its size, location, the volume of patient interaction, certifications, and other pertinent information to help us assess risks that you need protection from.
- Compare quotes: what coverage options you need in your medical office insurance plan? Our insurance brokers collect quotes from leading insurance providers and present you with rate comparisons, helping you make an informed decision regarding your insurance plan. Our brokers also help you unlock generous savings and discounts, ensuring sustainable protection for your thriving practice.
- Support patient success: with comprehensive medical office insurance in place, you can focus on delivering excellent patient care, without having to worry about the sustainability of your practice in the event of a disaster.
What Does Medical Office Insurance Cover?
Medical office insurance is designed to protect your clinic or treatment facility from a wide range of risks, including property damage, data breach, injuries, and other financial and liability issues.
- Medical equipment: at the core of medical office insurance, this coverage option provides financial resources for repairing or replacing damaged equipment, ensuring continued patient care without incurring additional expenses. This also covers the mechanical breakdown of covered equipment, as well as damage caused by artificially generated current and explosion of steam boilers.
- Business property: medical office insurance protects the structure of your clinic or treatment facility itself, as well as standard computer and office equipment, furniture, fixtures, and indoor and outdoor signs in case of fire, vandalism, and other disasters. This also includes coverage for essential property, such as inventory of medical supplies, even those in transit.
- General liability: provides coverage against liability claims or lawsuits brought to the practice by patients or employees injured in the premises.
- Disease outbreak: equips your clinic with necessary resources to recoup losses or afford temporary relocations in the event of a closure ordered by public health authorities following a communicable disease outbreak.
- Business interruption: this helps your clinic recoup losses from accidents, disasters, and liability claims that force closure or hampers operations while renovations or settlement negotiations are underway.
- Accounts receivable: medical office insurance also ensures business continuity through accounts receivable coverage that compensates you for the costs to recreate in case of damage to accounting records.
- Service interruption: this covers losses in case of communications, water, natural gas, or electrical service, and provides coverage for sewer backup, avoiding loss of income and extended business interruption.
- Data breach: business information is always proprietary, but in the case of medical files, patient information is especially delicate — and confidential. In case of a data breach, your medical office could be held liable, and it’s only with the help of a comprehensive medical office insurance policy that you can shield your practice from the cost of a liability claim.
- Fraud: whether it’s identity theft or employee dishonesty, shield your thriving medical practice from these breaches, and ensure both business continuity and patient confidence in your practice.
When you care for so many patients, you also need someone to look after your practice and ensure its health. A comprehensive medical office insurance policy is exactly what you need to continue your good work in delivering excellent patient care, eliminating financial and liability concerns that stand in the way of your innovations. Talk to our brokers today to claim your free quote.