3 Types of Commercial Insurance Coverage to Consider for a Medical Clinic

If you own or manage the operations of a medical clinic, you should work with a knowledgeable insurance agent to make sure your practice is thoroughly protected. You’re probably already familiar with medical professional liability insurance (malpractice insurance), so here are three other types of insurance policies that can benefit your facility.

Commercial General Liability

It’s recommended that, at a minimum, your practice’s commercial insurance policy includes general liability coverage. This will protect your clinic if an accident happens on your property that causes an employee, patient, or bystander to get injured. This also covers your facility if some part of your property damages someone else’s. For example, you’d be protected if a tree on your property fell during a thunderstorm and damaged a neighboring building.

Business Interruption Coverage

When you shop for business insurance, look for options that provide business interruption coverage. This can minimize the risk of losing money when your practice can’t continue operating because of an accident or natural disaster. This includes frozen pipes cutting off your water supply, wildfires, and other scenarios. Business interruption coverage can help you pay your rent, employees, and relocation costs.

Cyber Liability Insurance

Keeping patient documents and other records safe is a critical part of running any medical practice. Though going paperless saves clinics across the country millions of dollars each year, it also makes them more vulnerable to cybersecurity threats. Any breach of patient information can lead to HIPAA violations and fines, even if it’s the result of a cyber attack. Cyber liability insurance can help cover the costs of responding to a cyber attack and the potential fallout.

The experienced staff at Insurance Lounge to help you determine the right types of business insurance coverage for your facility, whether you operate a dental practice, research lab, or physical therapy clinic. As an independent insurance agency, we have professional relationships with hundreds of major insurance carriers. Our digital platform makes it easy to buy and manage your insurance policy online, but you can also visit one of our storefronts to speak with an agent in person. To see how we can help protect your clinic, get a free quote today.

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