We cannot stress enough the importance of malpractice insurance for chiropractors. If you have been following us for quite some time, then it is highly likely you are already aware it is one of our recommendations on your checklist. With that said, it is also imperative that you are careful when choosing insurance, as providers are not equally reliable.
When shopping for malpractice insurance for chiropractors, consider the following questions to help narrow your choices to the most qualified providers.
How long have you been in business?
Asking your prospect this question will give you an idea about the company’s strength as a chiropractic insurance provider. If they have been around for a decade or two, it means they have weathered the ups and downs of the industry. That also means they have honed their expertise and can offer insurance products that are top-notch in the market.
What is the scope of your insurance coverage?
You must know how extensive the level of protection they can provide so that you can weigh the benefits relative to the amount of money you are paying. The coverage may include malpractice insurance, business insurance, worker’s compensation, etc.
Can you give us some figures about your company?
Figures/statistics give you a snapshot yet a holistic view of the company. Figures worth taking note of are the number of clients they are currently serving, amount of insurance claims, amount limits of liability, and the premium.
Are you a licensed service provider?
In Arizona, domestic and foreign insurers are subject to licensing, control, and supervision by the Department of Insurance, as prescribed by law. The mandate is in Article 15, Section 5 of the state’s constitution. If an insurance provider cannot provide proof of their license, you have a compelling reason to cross that company out from your list of prospects.