A chiropractor is someone who provides medical services for a patient, which includes exercise rehabilitation, physical therapy, massage therapy, manipulation of the spine, hot and cold treatments, and a variety of therapies used for diagnosis and recovering from an accident or injury. Common risks of being a chiropractor include professional liabilities, losing patient records or business property damage. Obtain chiropractor business insurance to cover these and other risks you might face with your chiropractic business.
Types of Chiropractors Insurance
You have different risks as a chiropractor, and therefore need different insurance policies. The following are the most important chiropractor insurance policies to consider for your business:
General liability insurance is one of the most basic insurance policies for chiropractors and their business. It covers several types of risk exposures, including litigation after you have administered treatments, any accidents and resulting injuries on your building premises and lawsuits following the services you provided. For a chiropractic business, you will have coverage for premises liability and completed operations with the general liability policy.
Chiropractor Professional Liability Insurance
Another important chiropractic insurance policy is professional liability insurance, also called mal-practice insurance. This is vital to a chiropractor due to the nature of your business. Case in point: If you are performing a treatment on a patient and she later complains of more severe pain following your therapies, a lawsuit could be presented. Professional liability insurance offers coverage for legal costs, medical costs you are responsible for and other coverage.
If you use your own vehicle for your chiropractic business, such as picking up medical equipment or supplies for your office, then you need business auto insurance as part of your chiropractors’ business insurance bundle. This policy will provide coverage for any vehicle damage, bodily injury and occasionally theft and vandalism of your vehicle if you choose to include it. A commercial auto policy will not only cover vehicle (car, van, truck, etc.) damages and bodily injury that resulted from a vehicle accident, but also damage from a vandal or thief.
Your business property is also at risk for loss or damage, due to unexpected events like an earthquake, fire, flood, heavy rain storm, hurricane or other extreme weather conditions. These events often come with little to no warning so you need to have business property insurance beforehand. This policy helps you replace anything that was lost or destroyed during covered events.
Most states require workers’ compensation for employees working in the US; even if it isn’t a requirement in your state, you should still provide adequate coverage for your employees. If one of your employees suffers a work-related injury, the medical costs are covered by workers’ comp. For example, an employee who also provides massage therapy for your business might.suffer a sprained wrist while giving a massage. This would be covered by worker’s comp as would any lost income if they miss work due to the recovery.
Even with proper screening of employees and security for your building, you are at risk for different crimes. Theft, vandalism and embezzlement are all risks you face with a chiropractor business. You can’t always avoid crimes against your chiropractic business, but you can protect your business from significant loss if you have a crime insurance policy before they occur.
Now that you know of the most effective chiropractors business insurance policies for protection, you can give your chiropractic business the best security and protection available. Choose the policies wisely, read the fine print and cover all your probable risks.