It is worth emphasizing that doctors in other medical fields are more likely to face lawsuits than a chiropractor. But, this does not mean it cannot happen to the latter. That is why it is a wise decision to have a chiropractor business insurance put in place. Should someone file a complaint against you, you can rest assured that you have enough insurance to cover the monetary requirements as you face the possible legal battle. Else, you might end up in bankruptcy while also losing your license to practice.
The coverage of chiropractor business insurance handles several issues. Sure enough, it will put a cushion on your business should things that are unfavorable to your business happen. But then again, insurance companies are not created equally. Some are way ahead from others in terms of coverage.
When it comes to coverage, a good chiropractic business insurance should provide several options in their packages that chiropractors can choose from. The following should not be missing:
Business and property. This type of coverage should be able to cover basic business risks like fire and theft.
General liability. It provides coverage in situations where somebody is harmed within your jurisdiction – like when somebody trips over an extension cord or gets a nasty paper cut from a file folder.
Professional liability. It covers damages if someone is harmed by your care. When someone is awarded a lawsuit, that can cause a brutal blow to your finances. But professional liability insurance should be able to take care of it. Indeed, it is the most significant type of coverage for chiropractic practice.
Cyber liability insurance. Though this might be relatively new, this can also be very helpful for your chiropractic business. It helps your business survive issues like data breaches and cyberattacks by paying for recovery expenses.