INSURANCE FOR MEDICAL PROFESSIONALS
Medical professionals are held to a high standard of excellence when it comes to the procedures they perform on their patients. Insurance for doctors, dentists, hospitals, and other medical professionals alike is very important as you’ll need to protect yourself, your business, and your assets from any accidents that may happen. Van Leer & Edwards will help you find the right coverage for the right price so you can focus on your patients.
Buying Insurance Shouldn’t Be Painful
As a medical professional, you can be held liable for the procedures you are performing on your patients, mishandled patient information, improper updating of patient medical history, failure to detect diseases, and not upholding the proper standards of care. Insurance for medical professionals will protect you and your practice from the high costs associated with malpractice lawsuits and regulatory fines.
In addition to the basic insurance coverage that every medical practice should have, you’ll want to consider these other situations to determine if you need additional insurance coverage:
Are you incorporated?
After several years of practice, many medical professionals choose to incorporate but don’t know that they need to be insured using a corporate malpractice insurance policy. If a lawsuit were to happen, your practice would have no coverage and you’d be forced to pay all costs out of your own pocket.
ADDITIONAL COVERAGE OPTIONS
The medical industry is driven by talented practitioners and advancements in equipment that has enhanced the patient treatment you provide.
This equipment can be extremely expensive and needs to be properly insured from loss or damage. Having additional equipment insurance coverage will provide your practice with the coverage you need to protect your investments.
If you’re thinking about purchasing a new, advanced and expensive piece of equipment, it’s best to speak with one of our medical professional insurance specialists first. We’ll perform a risk assessment and determine whether or not you need additional coverage before you begin using it on your patients.
Most professionals in the medical industry (dentists, doctors, orthodontists, oral surgeons, and general practitioners) are covered by malpractice insurance. It is a professional liability insurance that will help protect you and your business against court-related costs and legal fees in the case of a lawsuit.
There are two types of malpractice insurance:
- Occurrence Policy: These malpractice insurance policies provide coverage for any work that was done while you had the existing insurance policy. This covers you even after you have retired or if your policy has expired.
- Claims-Made Policy: While costing significantly less than an occurrence policy, this coverage is based on the time the claim is made against you. You pick the number of years the policy retroactively covers you, usually one to five years. This type of policy will not cover you after you retire or if your policy ends.
If you have additional questions about malpractice insurance for doctors and dentists, please contact one of the specialists at Van Leer & Edwards so we can address any questions you have and provide you with a properly constructed insurance quote.
One of the most important elements of dentist insurance and doctor insurance is making sure your commercial property is properly covered. Fire, water damage, and other unpredictable events are all potential threats to the thousands of dollars of equipment in your office. Make sure that your practice is properly insured by speaking with Van Leer & Edwards today.