As a veterinary office, you’re tasked with maintaining the health of your clients’ pets. This important responsibility creates a need for veterinary office insurance to offer coverage for your unique business.
Caring for animals is no easy task and the business of that care comes with very specific risks. Protecting 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, commercial umbrella, and cyber liability insurance. In addition, you’ll want to insure against losses that might cause your business to temporarily shut down, which is why a business interruption policy should be strongly considered.
The equipment veterinarians need can range from mundane to very specific, but all of it should be insured. Replacing the high-value equipment needed for your practice can be quite costly and needs to be properly insured. If your office also boards, hospitalizes, or transports animals, animal bailee insurance can 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.
This is coverage for pet businesses that take their customers’ pets into their care, custody, and control and helps cover the costs related to the injury, death, or loss of a pet.
Your customers trust you with their pets to care for them, but there are risks of mistakes and negligence that can cause a pet owner to sue your practice. With veterinary malpractice coverage, you may be covered for the associated legal costs.
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. Veterinary office insurance is available to help pay for this. Additionally, should damages or fees be awarded, your veterinarian insurance policy will make the funds available.
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 often 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.
For more information about protecting your practice with veterinary office insurance, contact us to go over your insurance needs and coverage options.