As a veterinarian, your chosen profession is truly a noble one. Providing care and remedy to animals while providing direction, support, and comfort to their owners. It’s important to provide direction, support, and protection for your clinic and its employees and owners as well through a good veterinary insurance plan.
Whether your practice consists of house pets, large animals, or a specialty clinic, you need to have the proper coverage in place. It’s important to work with your licensed agent to customize a veterinary insurance package for your specific practice.
First, consider a business owner’s policy to combine your general liability insurance coverage with your property insurance which is customizable. Then, consider your veterinary malpractice insurance has the correct endorsements. Let’s look at these three types of coverage separately.
Your veterinary malpractice insurance or errors and omissions insurance will protect you and your staff should an animal die or contract an illness in your care and the owner brings a lawsuit against you.
Your veterinary malpractice insurance will cover legal fees, and any damages awarded up to the limit of the policy. Certain other coverage may be specific to your practice and discussed with your licensed insurance agent.
You may also want to discuss whether a business liability umbrella policy should be considered should there be potential for large claims and damage awards.
The general liability coverage within your business owner’s policy will cover your clinic’s liability for damages and personal injury at your clinic. For example, a pet owner slips on floor and is injured.
The property insurance portion of the business owner’s policy will insure the equipment and furnishing in the event of a disaster such as a fire. In addition, business income insurance and equipment breakdown insurance can be added to the business owner’s policy for additional protection. You may also want to consider adding coverage for valuable records and papers.
Your professional associations, the state department of insurance and your licensed insurance professional are available to help determine what coverage is needed for your veterinary clinic and practice specialty. Take some time to determine the level and type of coverage needed for your peace of mind.