Chiropractic has slowly gained supporters from all professional fields that enjoy its benefits, and it has been rising in popularity in recent years. With more people coming to you looking for improvement in their health, it’s necessary that you give your best first impression and what better way to do so than with Chiropractic Insurance.
If you are new to insurances or have little knowledge about it, don’t hesitate to get a free consult with expert agents. We love helping people understand what they need and how to obtain it for low prices.
Most chiropractic office owners tend to go with a Business Owner Policy (BOP) type of coverage because it bundles several general policies that apply to most businesses and it’s available at a lower cost while providing building and property coverage plus broad liability coverage among other policies. However, this is not always the preferred way. Depending on your practice there are some coverages that you don’t need, if you are chiropractic that visits patients at home, you won’t get any benefit out of the building coverage included in a BOP.
We encourage everyone to discuss these details with their agents. If you want more information about the policies that apply to a chiropractic business, read the following explanation about each policy.
General Liability Coverage
General Liability coverage protects your business from any claim made out of injuries or property damage that result out of negligence in your business property. It also covers advertising injuries you commit against other business owners and medical expenses. Some examples for these scenarios are:
A client slips and suffers injuries.
A customer leaves personal property in your office, and it gets stolen.
A patient asks your opinion about other chiropractors or medics, and your view is negative. The other chiropractor or physician gets informed and fils a claim.
Professional Liability Coverage
Professional Liability offers coverage for any claim made regarding the execution of your practice. It’s also known as Malpractice or Errors and Omissions. Chiropractic has faced severe opposition from people who claim it causes damage to the human body due to its method of procedure, which is why you have to have coverage against these claims.
Let’s say a patient pays your service to get a spin adjustment. Later that day, he feels abnormal pain in his neck and goes to the hospital. He claims you are at fault of his neck injury and you have to pay for his medical fees. At this point, the policy would kick in and provide an attorney. All expenses are under coverage including legal fees, settlements, and medical bills if found guilty; if you are found not guilty, there is a chance for you to get financial compensation because your business was out of commission for the duration of the trial.
Business Property Coverage
This policy covers every business property you have in case of fire damage, theft, water damage, vandalism, and some other perils according to your location from tables to medical machinery, including record keeping computers.
Data Compromise Coverage
Speaking of computers, you probably have one with personal information about your patients, from medical history to payment information. If this information were accessed by unauthorized personnel, a data breach would occur. If patients know this, they may file a claim. By having Data Compromise, all expenses originated out of this claim will be reimbursed. It’s important to note that if your computer or where ever you hold this information gets stolen or damaged, won’t be replaced.
Business Income Coverage
If a covered peril takes place and impedes you from working, business income coverage would provide compensation for any income or profit that you don’t obtain due to said peril. Let’s say a fire takes place in your office and you need two months for rebuilding. Since light is under your property coverage, you would get a net income for those two months in which you are out of business for restoring reasons.
Commercial Auto Insurance
If you do home visits and you use a car to do so, you may need this coverage. It protects an insured vehicle in case of liability and physical damage when used for business purposes. It also provides Uninsured Motorist Coverage, Collision Coverage, and Medical Payments among others.
If you’re looking to get a Chiropractic Insurance policy, we can help you choose the coverage you need to fit your business. Our agents are experts in the matter and love guiding people through the insurance world.