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Insurance for Pharmacies

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Frequently Asked Questions

Why do Pharmacists need insurance?

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.

Why get General Liability Insurance for your Pharmacy?

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.

Do pharmacists need E&O coverage?

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.

How much does Pharmacist Insurance cost?

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.

Are You Ready to Get Covered?

Prefer to speak with a CoverWallet consultant? Call

(646) 844-9933