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.
Professional Liability Insurance (or E&O Insurance), protects your small business from claims of mistakes, negligence or malpractice made when providing your services that caused somebody financial loss. PLI covers your legal defense costs, damages and settlements.
Commercial Property Insurance will provide coverage for your properties in case damage renders them impossible to rent or lease.
Business Interruption Insurance protects your small business if impacted by a covered risk. It'll cover the costs in replacing lost income and paying for additional expenditures. Also known as Business Interruption Coverage, this policy is usually part of your BOP (Business Owners Policy).
Why do Veterinarians need insurance?
Workers in this industry provide medical care for animals. Examples of these businesses include animal hospitals, veterinary clinics, veterinarians' offices, and veterinary testing laboratories.
Veterinarians need insurance as this helps cover your business from the risks that veterinarians could encounter. Insurance covers the cost of expensive lawsuits, property damage, and risks that could easily force your business to close if you don't have insurance.
What risks do Veterinarians face?
Below are the common risks veterinarians can face:
Your customer complains that their pet is getting worse. This causes your veterinarians to get sued for the damages.
Your office gets flooded due to a burst pipe that has been left overnight. This causes most of your computers and equipment to get destroyed.
How much does insurance for Veterinarians cost?
There is no fixed cost of insurance for veterinarians as the cost is usually defined by the number of employees you have, the size of your business, and the coverage required. To find out the cost of your insurance fast, simply apply online to receive a free insurance quote for veterinarians.