Protect the Health of Your Medical Practice with a Business Owners Policy - photo of doctors

As a medical professional, you’re committed to keeping your patients healthy. And as a small business owner, the well-being of your practice is also a top priority. A business owners policy (BOP) bundles property and general liability coverage, providing peace of mind that your office is as well cared for as your patients.

A BOP packages the following coverages into a turnkey bundle, often at a lower cost than stand alone coverage.

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Commercial Property
Fires, burglaries, and other accidental property damage can happen when you least expect it. A BOP provides coverage for your property, such as waiting room furniture and valuable examination equipment and supplies, in the event of a covered loss.

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General Liability
A general liability (GL) policy protects your business from claims (other than professional claims) resulting from bodily injury or property damage to others due to your business. If you are a tenant, your landlord will often request to see evidence that you have GL coverage.

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Business Interruption
Seeing patients is your bread and butter and a closed office can mean substantial revenue loss. A BOP includes Business Interruption coverage for up to 12 months. This means that if your practice needs to close due to a covered loss, such as a fire or theft, you are also covered for up to one year of lost revenue and additional expense.

You also have the option to add additional coverages with your BOP, including:

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Employment-Related Practices Liability Insurance
If you think your practice is too small to be concerned about an employment-related issue, you’ll want to reconsider. A small practice could be more at risk than a corporation as you navigate the complexities of human resources, often without in-house legal counsel or an experienced HR team. Offered as additional coverage with your BOP, EPLI protects your reputation and business from employment-related claims made not just by employees, but vendors and customers as well. The coverage provides broad protection, including employment acts, sexual or other harassment or coercion, discrimination, violation of civil rights, libel, slander,  defamation, humiliation, mental anguish, and invasion of privacy.

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Equipment Breakdown
For an affordable amount, equipment breakdown coverage can be added to your policy. Your business is protected from the cost to repair or replace the equipment, including medical devices and the income lost during the breakdown.

A business owners policy can go a long way to making sure your practice is as well-treated and cared for, giving you peace of mind to focus on the health and wellbeing of your patients.

This material is provided for information purposes only and is not intended to be a representation of coverage that may exist in any particular situation under a policy issued by one of the companies within Crum & Forster. All conditions of coverage, terms, and limitations are defined and provided for in the policy.
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