Essential Insurance Types for Healthcare Facilities

Essential Insurance Types for Healthcare Facilities

healthcare facilities insurance programs

Healthcare facilities require multiple types of insurance, including property insurance, employment practices liability insurance and professional liability insurance, to name a few. Ensuring that your facility has the proper insurance can be a challenging task, especially when you consider all the options and levels of coverage available. There are a few insurance types that should always be in place for a healthcare business.

Professional Liability Insurance

When considering healthcare facilities insurance programs, professional liability insurance is one of the most critical types of coverage to have. This insurance protects you from liability claims related to the actions of employees in the facility. It also covers students, volunteers, and others associated with the facility.

Property Insurance

Protection through property insurance applies to the facility that is owned, including all equipment, furniture, and inventory. In some cases, it can also cover electronic data if equipment breaks as well as personal property of patients of the facility. If something goes wrong, you will be covered on each of these fronts.

Employment Practices Liability Insurance

Employment practices liability insurance is often offered in healthcare facilities insurance programs. It keeps you protected against situations where an employee or prospective employee claims discrimination. It also covers your facility against wrongful termination claims that an employee may file.

Having the right insurance is crucial for any business, especially when running a healthcare facility. Take the time to make sure you have the coverage you need, so no emergencies come up that cannot be handled easily.