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As a chiropractor, you strive to provide a high level of care to your patients. However, even with using the utmost caution and care, not having appropriate coverage for your chiropractic business could put you at financial risk. For example, advice or treatment that you provide could worsen a patient’s condition and they could decide to sue you. If your location were to be vandalized or damaged in a fire, the costs could begin to add up quickly. Some other potential reasons to insure your chiropractic business are:
While it is ultimately up to you to decide what types of insurance to purchase, the following is a non-exhaustive list of some types of policies you may want to consider. Additional types of coverage are also available, and our knowledgeable team would be happy to help you explore your options.
General liability policies typically cover claims from bodily injuries that occur in your place of business. For example, this type of policy could help if an elderly client tripped in your lobby and injured themselves. General liability also typically covers copyright infringement. If you are creating materials to advertise your chiropractic business, such as print ads or social media posts, accidentally using unlicensed materials could present your business with another financial risk.
Malpractice insurance, as the name implies, helps to protect you in the event that a client claims that you committed some form of malpractice in connection with providing chiropractic care or treatment. Depending on where you practice, malpractice insurance may be legally required. However, even if not legally required, every chiropractor should seriously consider obtaining malpractice insurance considering our litigious society.
If the building that your chiropractic office is in were to catch fire, it could mean weeks of cancelled appointments and lost revenue for your business. Business interruption insurance can protect you from lost income due to a covered peril.
Chiropractic adjustment tables can cost hundreds to thousands of dollars. Commercial property insurance can help protect your furniture, building, equipment, and even your outdoor sign.
If you have employees, depending on where you live, you will likely be legally required to have workers’ compensation coverage. The cost of your workers’ comp policy will depend on where your business is located, as well as other factors like how many employees you have.
If your chiropractic business handles credit card numbers, keeps financial data, or stores confidential customer information (such as treatment records, medical information, insurance information and the like), you should consider cyber insurance. Whether your business is large or small, not having cyber insurance could put your business at financial risk.
A BOP, or business owner’s policy, typically bundles two common insurance coverages- general liability and commercial property. Usually these polices come with a cost savings compared to buying the coverages separately. Typically, it can help your business recover from events like thefts and fires. Depending on what insurance carrier you go through, additional coverages may be available to add on to a Business Owner’s Policy such as data breach insurance or commercial auto insurance. In order to see how much your business will pay for a BOP, you can request a quote.
A quick online search could provide a snapshot price of what it might cost to insure your chiropractic business through a company, only for you to later find out the price you will actually pay will vary depending on your business operations.
We are an insurance agency that works with over 100 carriers, which means more options for our clients. With offices located throughout the Maine and New Hampshire, one of our knowledgeable insurance professionals may be closer than you think. Reaching out to our team to review coverage or request a quote is as simple as filling out our form here. If you prefer to call an office directly, you can find a list of our office locations here.
Businesses come in all different sizes and types. No two chiropractic businesses will be exactly the same. What you will pay to insure your practice will depend on the coverages you choose, as well as:
You can request a quote for your chiropractic business by filling out our form here. From there, a member of our team will reach out to gather more details about your business.
We’re local, with convenient offices located throughout Maine and New Hampshire. We take a personal approach to your insurance needs. Our team is readily available by phone to answer questions you may have. If you experience a loss, our in-house claims department will strive to make the claims process simple and efficient. We have over seventy years of experience serving customers throughout the Northeast.
If you are just starting your business, it can be tempting to skip insurance coverage until you get more established. However, it is important to understand that the risks your business faces will still exist on your first day, week, and month open. As a business owner, deciding when to get business insurance is typically up to you. If you are renting space, many landlords will require that you show proof of insurance in order to rent the space.
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This article is for general informational purposes only and is not to be relied upon or used for any particular purpose. Cross Insurance shall not be held responsible in any way for, and specifically disclaims any liability arising out of or in any way connected to, reliance on or use of any of the information contained in this article. The information contained or referenced in this article is not intended to constitute and should not be considered legal, insurance, accounting or other professional advice, nor shall it serve as a substitute for the recipient obtaining such advice. The views expressed in this article are that of its author and do not necessarily represent the views of Cross Financial Corp. and its subsidiaries and affiliates (“Cross Insurance”) or Cross Insurance’s management or shareholders.
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