Insurance for Hospitals and Medical Centers
We shop for you! Compare rates from +10 top carriers
What Insurance Do Hospitals and Medical Centers Need?
General Liability Insurance protects your small business against claims of third-party bodily injury and property damage, reputational harm and advertising injury. It covers medical bills, repair costs & legal fees.
Covers your products, materials and equipment that are transported over land (truck or train), or while they're in a warehouse. If involved in a collision, mishandling or cargo theft, Inland Marine Insurance covers the transported goods.
Commercial Property Insurance will provide coverage for your properties in case damage renders them impossible to rent or lease.
Product Liability insurance covers your business if you need to recall one of your products. It covers your costs for retrieving the defective product from the manufacturer or seller to prevent any further bodily injury or property damage.
Frequently Asked Questions
Why do Hospitals and Medical Centers need insurance?
This industry includes general practice hospitals and specialized healthcare centers such as psychiatric and substance abuse centers, HMO medical centers, kidney dialysis centers, children’s hospitals, orthopedic hospitals, physical rehabilitation centers and various outpatient service centers that specialize in X-ray diagnostics, clinical laboratory services, and social work. These establishments specialize in the diagnosis and treatment of diseases, illnesses, and other physical and mental ailments.
Hospitals and medical centers need insurance because they deal with a lot of patients on a day-to-day basis. This means that any mistakes done by your nurses or doctors could heavily affect your business, particularly if it is a malpractice lawsuit. Most hospitals end up bankrupt after a malpractice lawsuit - regardless if they win or lose. Your insurance will cover these risks and make sure that when it happens, your business and personal assets are protected.
What risks do Hospitals and Medical Centers face?
A common risk that hospitals and medical centers face is when your nurse or doctor provided a medicine or professional advice that caused the patient more harm. This could be a huge malpractice lawsuit.
- The MRI machine suddenly malfunctions and you end up forcing MRI scans on a halt.
- Your nurse caught a disease from one of the patients. You'll be responsible for the medical expenses for the nurse until he or she is able to work again.
How much does insurance for Hospitals and Medical Centers cost?
The cost of insurance for hospitals and medical centers depends on the size of your hospital or medical center, the number of employees you have and the coverage required. To find out the cost of your hospital and medical center, apply online to get a free quote delivered in less than five minutes, or talk to our insurance experts.