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What does Business Owners insurance cover?
As an owner or administrator of an ophthalmic practice, you know the importance of protecting your business from the daily operating exposures associated with a medical business practice. A patient slipping and falling in your office, theft of surgical equipment from your car, or damage to your computers or office equipment from electrical fires are all possible realities.
The policy protects against breakdowns of all types of equipment, including computers, scanning equipment, phone systems and air conditioners.Is business income interruption covered? In the event of a covered loss, the policy reimburses you for actual loss of earnings for up to a year. Even losses due to downtime or extra expenses needed to restore operations are covered.What business liability is covered? Business liability coverage protects your office operation from claims arising out of injuries to your patients or the general public, and from damage to the property of others. Defense costs as a result of such claims are covered regardless of fault in addition to your policy limits.
Is legal liability for fire covered? The policy protects against legal liability for fire, lightning or explosion damage to the portion of the premises you lease and occupy for your office.
What coverage is provided for money and securities? Your money and securities are protected at your covered location or when deposited in a bank or savings institution at off-premise locations or while in transit.
Are there special endorsements that can broaden my coverage? The Hartford offers the Stretch Plus for Medical Offices program, which is specifically designed for physician’s offices. It boasts over 20 important coverages available as a special package at a cost hundreds of dollars less than if they were purchased separately. The enhanced coverages include: Computers and Media, Employee Dishonesty, and Property in Transit.
Is umbrella coverage available? You may purchase extra layers of liability coverage, up to $5,000,000.
Contact the program representative, Dana Pollard Carulli, at NAS Insurance Services (877) 808-6277 (or dpollard@nasinsurance.com) for information about the competitive pricing for the limits and coverage that are appropriate for your practice.
