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BASIC
Essential coverages for your pharmacy
Includes:
STANDARD
Protect your business against service errors
All Basic plan benefits and:
PRO
Get protected against employment-related issues
All Standard plan benefits and:
*plus Workers Compensation
CUSTOM
When you have specific requirements
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In recent years, pharmacists have taken on more diverse roles than ever before, such as providing patient consultations and giving on-site vaccinations. Although this diversification is good news, an expanding industry also means increased risk exposure. Pharmacists today must take precautions to ensure they are properly protected. Despite years of training and practice, mistakes still happen. Pharmacists are in the business of dealing with public safety and wellbeing, so it is especially important to make sure you and your livelihood are safe by purchasing the appropriate liability insurance. Insurance providers understand the need for pharmacists to be protected and offer a wide range of choices to fit each particular need.
Insurance to protect your pharmacy will keep you in business when an unexpected incidence causes a loss. General liability will cover basic injuries and property damage. Professional liability will cover the specific risks related to pharmacy services. Additional insurance for property, cyber loss, and employees are important as well, especially if the business is growing.
General Liability insurance is the base of modern American insurance products for businesses. It is built to protect you from the unforeseen but relatively common risks associated with operating a business in which customers come in and out of on a day to day basis.
Every business that provides a service to clients for a fee could benefit from E&O coverage and pharmacists are in the business of providing quality healthcare services to clients on a daily basis. For example If a negligence claim is made against you, the legal fees involved can add up quickly. Often it is believed that these responsibilities lie with the doctor. However, this is not always the case and even if a claim is later found to be unwarranted, the proceedings may have already eaten up a large portion of financial resources.
Insurance rates vary depending on different factors such as location, business size, and business type. Typically, pharmacists pay at least $800 per year for $1M in E&O coverage. You can get more accurate insurance quotes by identifying the specific needs of your business and completing an application.
CoverWallet utilizes state of the art technology to help small businesses understand and buy customized coverage, get significant savings and conveniently manage their insurance, in a matter of minutes, all through our online platform.
Our mission is to help small businesses to be better protected, informed and served. See what our customers are saying.
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