Insurance for Pharmacies

Commercial Property insurance protects your building and assets from natural disaster, fire, theft or other occurrences in the event of damage or loss. An ideal policy would include physical property (buildings, computers, other inventory, patient records and other electronic information). You should select a policy that covers all angles in the event of damage.

Workers' Compensation covers injuries on the job. Workers' Compensation also covers lost wages or medical treatment due to injury or illness followed by inability to work. This type of insurance can also reimburse workers for lost wages until they can go back to work. If you are an employer or pharmacy owner, this is a type of insurance can also protect you from employee lawsuits.

Umbrella Insurance goes the extra mile, protecting you from major claims and potential lawsuits. It takes effect when your other liability policies run out so your entire business will be well protected. Umbrella Insurance includes extra coverage for libel and slander claims, bodily injury, property damage, and individual personal liability issues for complete overall coverage.

Product Liability is a special policy that protects your business from claims of personal injury or property because of the products sold or supplied by your business. Product Liability insurance will pay for any legal or court costs, compensation, business damages and provide a safety net while you work your way to fixing the problem.

General Liability insurance is the most basic policy and can protect against common workplace incidents resulting in damage or injury in two categories. Property Damage covers damage or destruction to someone else’s property you are working on. Bodily Injury protects you from harm to another, including a client or customer, covering medical care for the injured and potential legal fees.

Errors and Omissions (E&O), offers valuable protection for pharmacists. Pharmacists can be held responsible for patient care and even become involved in complicated lawsuits. Accusations of negligence can be devastating, professionally and financially. E&O Insurance provides support if mistakes should happen, like improper dosage or incorrect instructions with prescription drugs.