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Veterinary Office Insurance

We’ll take care of the insurance so you can take care of the furbabies.

Veterinary office insurance for your business needs.

As a veterinary office, you’re tasked with maintaining the health of your clients’ furry family members. This very important and highly-specialized responsibility creates a need for proper veterinary office insurance to cover your unique needs.

The risks of running a veterinary office.

Caring for animals is no easy task and the business of that care comes with very specific risks. Helping you protect your veterinary office by obtaining the proper insurance coverage is essential. To start, you need the basic policies that most businesses do. This includes general liability, professional liability (also known as malpractice insurance), and property coverage for your equipment and/or building. In addition, you’ll want to insure against losses that cause your business to temporarily shut down, which is why a business interruption policy should be strongly considered.

Addressing the specialized risks.

The equipment veterinarians need can range from mundane to very specific, but all of it must be insured. Replacing the high-value equipment needed for your practice can be quite costly and must be properly insured. If your office also boards, hospitalizes, or transports animals, animal bailee insurance can help protect you in the event an unfortunate incident should occur resulting in injury to an animal. Simple business insurance just isn’t adequate to cover the risks veterinarians face.

 

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Malpractice and license defense.

Any veterinary practice can be faced with a malpractice lawsuit or a complaint to the state licensing bureau. These claims must be defended, even frivolous and unfounded ones. This defense is likely to be expensive. Hiring attorneys who are familiar with specialized knowledge of veterinarians will be required. Professional Liability insurance for your veterinary practice is available to help pay for this. Additionally, should damages or fees be awarded, your veterinarian insurance policy will make the funds available.

Insurance for the people in your workplace, too.

There’s always a risk that employees can be injured on the job, and veterinary offices are no exception. Caring for animals, particularly sick or injured ones, can lead to someone getting bitten. Scalpels, needles, and other medical tools also carry the risk of injury. Workers’ compensation insurance is mandatory, but it’s important in that it can pay for the medical bills of an employee who gets hurt or sick on the job.

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As an independent agency, we are here to help you find the right Veterinary Office Insurance coverage.

Veterinary Office Insurance Quote Request

As an independent agency, we are here to help you find the right coverage.

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Business Income / Business Interruption

Risk Factor

Your business relies on nature and the outdoors, but nature is unpredictable and fickle. All it takes is a nasty storm to flood your rivers or an equipment malfunction on your ziplines before your business has to shut down for a few hours or more. Every minute you’re shut down means lost revenue for you.

Solution

Business interruption insurance compensates you for lost income if your business cannot operate as normal due to damage that is covered under your commercial property insurance policy, such as fire or water damage. This type of insurance covers the revenue you would have earned based on your financial records, had the incident not occurred. The policy also covers continuing operating expenses such as rent, electricity, and ordinary payroll.

Commercial Umbrella

Risk Factor

What happens when your business faces a large liability loss that exceeds the basic limit of your standard policy?

Solution

A commercial umbrella policy provides high limits of insurance, typically between $2,000,000 and $10,000,000. Coverage is extended over your general liability insurance, workers’ compensation, business auto, as well as directors and officers liability coverage. It provides a great safety net and helps ensure your business is well protected.

General Liability

Risk Factor

Businesses are susceptible to many risks, such as claims due to bodily injury, property damage, personal injury, and more.

Solution

General liability insurance is an absolute necessity for any business. It provides broad coverage when you are deemed responsible and liable, and will also pay to defend any covered lawsuit or action regardless of its merit.

Specialized Equipment

Risk Factor

Many veterinary offices unknowingly underestimate the costs associated with replacing medical equipment. It’s not uncommon to find out that there is not enough coverage to replace it, and sometimes it’s already too late.

Solution

With a business owners insurance policy (BOP), most office equipment is included as business personal property and would be protected in the event of a covered loss. For specialized, high-valued equipment, a separate policy may be required. Your agent or broker can help you to make that determination.

Workers’ Compensation

Risk Factor

If one of your employees receives an injury or becomes ill due to a work-related occurrence, you are required by law to have the proper insurance coverage in place.

Solution

Maintain workers’ compensation insurance to provide benefits to eligible employees. Otherwise, you can be penalized for every day that coverage is not maintained, as well as for any benefits an employee would have been eligible for in the event of a job-related injury or sickness.

License Defense

Risk Factor
More and more, people are reporting practices to their state licensing bureau for any number of reasons that are not related to the care you’ve given an animal. Defending these claims often requires representation by an attorney who has specialized knowledge in this area.
Solution
Responding to complaints against your veterinary license can be very costly. License defense coverage can help cover these costs. This separate coverage is necessary because this type of complaint is separate from lawsuits covered by malpractice insurance.

Veterinary Malpractice / Professional Liability

Risk Factor
Veterinarians and licensed staff face a high risk of being sued by patients for such things as claiming a wrong diagnosis or treatment. All lawsuits must be defended, regardless of merit.
Solution
Professional liability insurance, commonly known as veterinary malpractice insurance, can help with the cost of legal expenses and other damages if a lawsuit is filed making allegations regarding errors in your work.

Employment Practice Liability Insurance (EPLI)

Risk Factor
On average, it’s estimated that three out of five businesses will be sued by their employees. Restaurants, just like any other business, are vulnerable from the pre-hire process through to a possible reduction in workforce. Claims can stem from just about anything, such as someone taking a “joke” the wrong way and being offended.
Solution
Coverage to protect you against this risk normally comes as a standalone policy. The right coverage is critical to your risk management process as it protects against discrimination, wrongful termination, sexual harassment, and other employment-related allegations. Typically, the policy will cover your business as well as your directors and officers. Third party coverage is an added option, usually accomplished via a policy endorsement, and addresses claims made by customers or vendors against you from acts committed by employees.

Animal Bailee

Risk Factor
If your practice hospitalizes, boards, or transports animals, you can be held responsible for any number of things that can happen to the animal while it is in your care, custody, or control.
Solution
Animal bailee provides coverages for damages arising from causes unrelated to treatment. This can include fire, theft, escape, flood, or an attack by another animal.

Cyber Liability Insurance

Risk Factor

The internet has spun a whole new web of liability exposures. E-commerce, social networking, cloud storage, and other technologies bring great benefits to large and small practices alike. But with these benefits also come challenges, including protection of privacy, data, and the financial information of your customers.

Solution

Cyber liability insurance protects your practice in the event of unauthorized access to electronic data or software within your network. It also provides coverage for spreading a virus, extortion, accidental release of personal identifiable information, and resultant damage caused by a lost or stolen laptop or other mobile device. This coverage is quickly becoming more and more important as you embrace technology to help run your practice.