Insurance for Optometrists
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What Insurance Do Optometrists Need?
Medical malpractice insurance is a type of professional liability insurance that protects healthcare professionals from claims of medical negligence or malpractice that results in injury or death. It covers your defense and any settlement costs.
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.
Commercial Auto Insurance covers your cars, trucks, and vans used in your business. It covers the costs from vehicle damage in collisions, theft, vandalism and weather damage. It also covers medical expenses for to injured parties.
Workers Compensation covers your employees' medical costs and lost wages while recovering from a work-related injury or illness. The employee gives up the right to sue your company in return for receiving cash and benefits from Workers Compensation. In some states it’s mandatory for businesses!
Frequently Asked Questions
Why do Optometrists need insurance?
Health professionals in this industry practice optometry by providing the diagnosis and treatment of eye diseases. They also prescribe eyeglasses, contact lenses, and other aid and therapy for the eyes. These professionals may practice privately or in big facilities such as hospitals.
Insurance is a way of managing risks. When you have insurance, you transfer the cost of the potential loss to your insurance company in exchange for a small monthly fee. This is a lot better than having to spend all your business assets on just one liability claim.
What risks do Optometrists face?
Optometrists have a unique set of risks. Below are some examples:
- Your client claims their eyes have gotten worse after laser eye surgery. The client files a claim for medical malpractice.
- The car you are driving for work is involved in an accident where you are proven to be at fault.
- A customer in your store slips and falls, suffering injuries. You're responsible for medical fees, but also legal expenses and damages if the customer decides to sue your business for the damages.
How much does the insurance for Optometrists cost?
There is no fixed cost for insurance for optometrists. Most of the time it will depend on the number of employees you have, the size of your business and the coverage required. To find out the cost of your insurance policy, simply apply online to get a free quote or contact our insurance experts directly by phone.