What is healthcare practice insurance?
Healthcare practice insurance is a special type of coverage built around providing healthcare practices from the costs that arise from medical malpractice suits and many other expensive scenarios that come with running that type of business.
What does healthcare practice insurance cover?
When it comes to your healthcare practice, you need coverage that works with the wide variety of services you provide, as well as a policy that protects your employees if they’re injured, general liability insurance, and extra coverage when you need it.
Healthcare practices can choose from a variety of insurance coverage options, including:
- General liability
- Legal liability
- Medical malpractice insurance
- Umbrella coverage
- Workers’ compensation
If your healthcare practice requires practitioners to travel to patients (for example, midwifery), having auto insurance as part of your policy is important. This is just one of several specific types of coverage your medical practice may need.
Is medical malpractice insurance required in Salt Lake City?
No medical practitioners are immune to malpractice claims, whether they’re considered intentional or unintentional. Resolving medical malpractice claims not only take a long time, but they are also notoriously expensive.Only seven states require medical practices to have medical malpractice insurance, and Utah is not one of them. However, without this coverage, medical practices in Utah can be faced with bills for non-economic damages in medical malpractice suits of up to $450,000.
Without a healthcare practice insurance policy with medical malpractice insurance, your business could risk bankruptcy paying that fee out of pocket.
Call the experts at Salt Lake City Insurance today and find a healthcare practice insurance policy that gives your business the coverage you need at an affordable price.