Tom's Blog
As a chiropractor running your own business, you know the many risks your profession faces, but do you have the right type of business insurance to minimize those risks? As a small business owner, you can anticipate many scenarios happening that may include equipment breakdown, cyber attacks, a client getting injured on your property, or an employee claim citing discrimination. If not protected with the right type of business insurance for your chiropractic office, these types of claims can wreak havoc on your financial security and business.
Are You Protected When an Accident Happens?
Your profession as a chiropractor comes with its unique share of inherent risks so you must be prepared to handle losses when they happen; otherwise, you are exposing yourself and business to financial ruin.
Imagine performing a routine neck adjustment on a regular client that has been coming for years, when he/she goes to stand up, gets dizzy and passes out injuring their back. This client is now suing you for this back injury, which could cost you significant legal fees, and the costs of the medical bills associated with this back injury. Without the right type of business insurance coverage, you could be risking your assets and chiropractic business.
Basic Coverage Options Chiropractic Business Owners Should Consider, but Not Limited to:
There are different policies for different risks, but there are some basic coverage options that small business owners should consider as priority. A typical business owners policy (BOP) includes coverage for both business property and general liability under one business insurance policy and is typically more affordable than purchasing the policies separately.
Business Property- This type of coverage protects your chiropractic business property against damages resulting from covered losses such as fire, theft, windstorms and vandalism, along with the contents inside your building property.
General Liability- This coverage protects you for claims for which you are found liable for injuries and damages to others. For example, if one of your chiropractic patients slips and falls while at your office, this type of coverage would provide protection for medical bills and any legal expenses that ensue, within the limits of liability.
Business Interruption- If you experience a covered loss that shuts down your chiropractic office, this coverage would pay your business income during the shutdown until you can get back up and running again. *Some exclusions may apply, so contact your local N.C. independent insurance agent to inquire.
Other Chiropractic Business Coverage Options to Consider:
- Commercial Auto
- Business Equipment Breakdown
- Employment Practices Liability (EPL)
- Identity Theft
- Cyber Liability
- Professional Liability (Errors & Omissions)
- Workers Compensation
- Umbrella
Paramount insurance Agency understands your unique set of risks that are most common to your chiropractic profession and we want to minimize your risks with the right type of business insurance protection. Call us TODAY at 866-869-3335 to discuss all of your chiropractic office business insurance needs. We can handle all of your insurance needs, so all you need to focus on is treating your patients with the care and treatment plans they need and deserve.
