Veterinary Business Insurance Charleston, SC

Posted: January 02, 2020

There are almost 60,000 veterinarians in the US, and the job varies wildly. One patient may come to you with a sick dog, and another may have farm animals in need of care. No matter what type of animal you’re working on, there are always risks involved. To help protect your practice, learn more about veterinary business insurance below, and contact King Street Agency for a quote today.

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What Veterinarian Insurance Coverage Do You Need?

Most industries come with specific risks and threats that can be covered by insurance, and veterinarians are no exception. The type of coverage you need will depend on your location and the types of patients you see. Consider which of these coverage options may be right for your veterinarian business, or speak with a knowledgeable agent for more information:

Animal Bailee

Veterinarians treat animals that are regarded as your clients’ family members. Whenever a sick or injured animal is in your care, there’s always a risk that they can die or escape, leaving distraught and angry family members in their wake.

With animal bailee coverage, any expenses brought about by a deceased or escaped animal will be taken care of. If you commonly have animals in your care for days at a time, it’s strongly recommended that you invest in this type of coverage.

Employment Practices Liability Coverage

Veterinarians provide a service that many people depend on, but like all businesses, they’re still susceptible to lawsuits from disgruntled employees. While no one wants to deal with an employee lawsuit, it’s a very real possibility that can cost your practice lots of time and money.

Luckily, employment practices liability coverage can protect you if you’re sued for wrongful termination, discrimination, or other claims.

Data Breach

It’s common for businesses to keep valuable data in their electronic records. This includes confidential information on patients and other data that you want to keep secure. If hackers expose this data, it could impact your reputation and could require significant funds to fix. Data breach coverage provides financial protection in the event of a breach.

General Liability Coverage

A veterinarian office is full of tools, beds, chairs, and other equipment. While not the most dangerous environment in the world, accidents do happen. As a practice owner or manager, you’re responsible for the damages.

General liability coverage gives you peace of mind by paying for any expenses ensuing from injury-related lawsuits. You never know when an employee or customer may trip over a cord, bump their head, or suffer another unexpected injury, so this type of coverage is highly recommended.

Commercial Property Insurance

For many businesses, the computers, tools, and other property in the facility is crucial to operation. When this property is damaged, it can require thousands of dollars to replace—especially the medical equipment found in many veterinary practices. Commercial property insurance can help with these expenses, helping you to get up and running again in a short time.

Business Income Insurance

Fires, floods, and other unexpected disasters can leave your practice closed for days or weeks at a time. Many businesses depend on consistent income to pay their expenses and remain operational.

Business income insurance can provide your standard amount of income while your practice is recovering. This coverage can allow you to continue to pay employees and creditors while your practice is out of operation.

Equipment Breakdown Coverage

There are many operations and treatments in vet clinics that involve complex equipment. Problems with equipment happen when you least expect them, and they can result in cancellations that aren’t great for business. With equipment breakdown insurance, you can have the funds needed to replace your equipment when you need it most.

Get the Coverage You Truly Need at King Street Agency

There’s nothing like getting the exact combination of coverage you need for your practice. That’s our goal at King Street Agency. We want our clients to leave knowing that they have only the insurance that best suits their needs and gives them peace of mind. Request a quote for veterinary business insurance today, or contact us today for more information.

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