Massachusetts Doctors Office Insurance
As the owner of a medical office, you understand just how important it is to have the right insurance. The patients that come into your office have health insurance coverage that make it possible for them to receive the care that they need without putting their personal finances in jeopardy.
Just as health insurance helps your patients with their needs, your office also needs protection from expensive risks. With appropriate Doctors Office Insurance from Allan M. Walker Insurance Agency of Massachusetts, you can rest assured that you are not vulnerable to property loss, malpractice claims and liability suits.
Ensuring that your office is protected against worst-case-scenario situations means that when such events come to pass, your business will not be facing financial devastation. When you take into consideration the type of work you do and the hazards that you face on a daily basis, our experience insurance professionals can fit you with a policy that meets your particular needs.
General Liability Coverage For Medical Offices
The foundation of any business insurance policy is general liability coverage, the same is true when it comes to your Medical Office Insurance policy. This policy will provide you with comprehensive coverage against some of the most common claims that your may face, such as:
- Bodily Injury – If a patient comes into your doctors office and slips, breaking their arm, you could potentially face a lawsuit to pay their medical bills. Simply because the accident took place on your premises, you will be held accountable. Fortunately, your general liability insurance will pay the cost of such a claim.
- Personal Injury – As an allied healthcare professional, it may be difficult to imagine being sued for copyright infringement, slander or libel. However, if you use one of your patient’s pictures in your advertisements without proper permission, you could find yourself faced with a personal injury claim.
- Property Damage – As you are treating your patient, their personal property may become lost or damages. You may be held accountable for the cost of replacement, but your general liability insurance will help with such an expense.
Liability claims may be made against your medical office by anyone who is not an employ. This includes visitors, delivery persons and patients may become plaintiffs. However, when your office is protected with Doctors Office Insurance from Allan M. Walker Insurance Agency, you will have the financial support required to pay settlements, legal fees, judgments and all other court costs if the unthinkable does occur.
Property Insurance For Medical Offices
From your medical equipment, computers, fixtures and furnishings to your actual office space, you have got a considerable amount of money invested in the medical office that you have built. The sad fact is that if you do not have the right Medical Office Insurance policy in place, all of the effort, money and time that you have put into it all will be seemingly for nothing is fa fire sweeps through the building and it all goes up in smoke.
In order to protect your business assets from damage or loss, your policy must include property insurance. Should an accident or natural disaster damage or destroy your office space and its contents, you will have the funds for replacement and repairs.
In most cases, a business property insurance policy will also include coverage for business interruption. This means that you will also receive compensation for the income that is lost when you have to close the doors of your medical office in order to take care of an insurance claim.
Property insurance will typically cover loss or damage that occurs as a result of fire, power outages and surges, theft, vandalism and windstorms. A standard property insurance policy will not include coverage for loss or damage that is caused by an earthquake, flooding or a hurricane. For these disasters, you will need to add endorsements to your Medical Office Insurance policy or purchase a separate policy.
You have the option to insure your assets for replacement or cash value. While the premium for cash value coverage will be slightly lower, you will only receive compensation for the depreciated value of the property. On the contrary, if you choose to insure your assets for replacement value, you will receive current market value at the time of the loss. Even though replacement value coverage has a higher premium, you will have the necessary flexibility to reopen the doors of your medical practice as quickly as possible.
Do not make the mistake of assuming you have the right coverage. Click on the quote request button now before it is too late. An agent from Allan M. Walker Insurance Agency will get back to you quickly with your risk free quote and explain all of the coverage options that are available to you. You will be amazed at just how affordable it is to protect the business that you have worked so hard to create.