Surgery Insurance

Surgery Insurance

Do you own a GP surgery, dental practice or veterinary surgery? Then you need to ensure that you have adequate surgery insurance in place to protect you from a range of risks and financial liabilities.

If you are the owner of a business that operates a surgery, surgery insurance policies will provide you with the cover that you need if things don’t go to plan and you face the possibility of paying a large claim. Read on to find out how The Yorkshire Broker can help you to protect your business today.

What is surgery insurance?

Surgery insurance policies can protect your business against a range of claims, financial risks and losses that are related to your place of work. It is likely that you will have a number of patients and clients that visit your premises on a regular basis, and you need to ensure that you are protected against a range of liabilities, such as someone slipping on a wet floor and injuring themselves.

The type and amount of surgery insurance cover that you require depends on several things. For example, the size of your surgery and the kind of work that you do.

What surgery insurance covers

Surgery insurance can cover your business in the event of any legal claims that are made by employees or members of the public whilst on your premises. In addition, it can also cover loss of or damage to your premises and any equipment in the event of perils such as flood, theft, bad weather or fire.

Types of surgery insurance policies

There are several different types of GP practice insurance, insurance for vets and dental indemnity insurance cover that you should consider for your business. These include:

  • Public liability insurance: Provides protection if your business activities kill or injure a member of the public who is visiting your premises. As the owner of your business, making sure that your surgery is as risk-free as possible is your responsibility, but if the worst should happen and an accident occurs then public liability insurance will ensure you’re covered for any compensation claims. As a minimum, you should ensure that you have taken out at least £5m worth of cover.
  • Employers’ liability insurance: This is a legal requirement if you employ any member of staff (including permanent, temporary, contractors or freelancers). The minimum level of protection is £5m, which will cover the cost of compensation claims if they get injured or ill whilst working in your office.
  • Business interruption insurance: Provides cover for financial losses if your surgery can’t operate from its premises as normal as a result of an insured peril such as fire or flood.
  • Commercial buildings insurance: Do you own your own surgery premises? If so, you’ll need to arrange for cover in the event of flooding, fire, bad weather or theft. This type of policy covers permanent fixtures such as toilets, kitchens, display units and built-in cupboards, and you’ll be able to claim for a total rebuild as well as repairs.
  • Commercial contents insurance: This insurance provides cover for the contents of your surgery, such as chairs, desks, computers and any other office equipment. Office contents insurance will provide cover for any damage or theft, and it’s important to ensure that you have calculated the total cost of this correctly – if the worst were to happen and you have under-insured, you could be left out of pocket.
  • Business assets insurance: Provides cover for the things that your surgery needs to operate from your premises, such as computers, mechanical equipment, tools, machines and stock.
  • Specified all risks: Provides for loss or damage to specified equipment such as laptops and mobile phones whilst they are away from the business premises.
  • Stock insurance: Provides cover in the event that your stock is damaged or stolen from your office.
  • Cyber insurance: Provides cover against data breaches or cyber hacks that affect your computer systems and networks. Without this insurance, would your surgery be able to survive in the event of your client records being stolen?
  • Theft of takings insurance: If you take payments in cash or your business deals in cash, then you may want added protection in case of theft from you, anyone working for you or your premises. In addition, this type of insurance will also cover money that is in transit during your office hours or that is left locked in your office overnight.
  • Legal Expenses: Cover in the event of employment disputes, legal defence costs, contract disputes, Tax, VAT, PAYE and NIC investigations and more.
  • Goods in transit cover: This will provide cover if goods are damaged or lost while being delivered by post or courier.
  • Professional indemnity insurance: If you have given negligent medical advice, this will ensure that you are covered if your client makes a claim against you.
  • Specific surgery insurance cover for medical practices: A GP surgery may also require cover in the event that stock, drugs and refrigerated vaccines are damaged, to protect medical instruments made of precious metals and cover staff in the event of assault by patients.
  • Specific surgery insurance cover for dental practices: A dental practice may require cover for dental instruments made of precious metals, any precious metals that are needed for dentistry treatment,  as well as dental chairs which could be expensive to replace without insurance and laboratory equipment.
  • Specific surgery insurance cover for veterinary practices: A veterinary surgery may need to take out surgery insurance to cover the animals that they care for. 
  • Directors and Officers Insurance: Directors’ and officers’ insurance (also known as D&O insurance or management liability insurance) will protect your business if a claim is made directly against the directors and officers of your company. Even if you’re the owner of a limited company, personal claims can still be made against you, and therefore a D&O insurance policy can provide invaluable protection.

 

These are just examples of some of the types of surgery insurance policies that we look after at The Yorkshire Broker. As we know that no two businesses are the same, speak to us today to find out which policies will best meet your needs.

Do I need surgery insurance?

If your surgery business operates from a specific premises or office, it’s important to have the correct cover in place to protect your operations. In the event of a claim being made against you as a result of an accident that has occurred at your office, or damage occurring to the equipment that you need to operate, would your business be able to take the financial hit?

The cost of surgery insurance

At The Yorkshire Broker we understand that cost is important to your business, but it is crucial to ensure that you are properly protected in line with the risks your business faces. With that in mind, we will take the time to understand the specific needs of your business and recommend the amount of cover that is best suited to you.

What else do I need to know about surgery insurance?

A surgery insurance policy can also provide cover for accidental damage (for example to signage or glass), the personal property of employees or visitors to your premises, and any portable equipment that is taken away from the surgery during home visits.

In addition, if you own a number of surgeries, it is also possible to cover as many surgeries as you like at any one time, provided they are all the same legal entity.

How can I get surgery insurance?

The Yorkshire Broker have a team of specialist advisers ready to help you get the right protection in place for your surgery business.  

We will take the time to understand the specific needs of your business and are committed to delivering a completely personalised service, ensuring that you have the best possible cover at the best possible price.

To find out how much peace of mind costs, contact The Yorkshire Broker by calling: 01924 929070.

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