Medical offices are teeming with successes and healing, but they arenâ€™t exempt from needing adequate insurance. And with growth in any entity, especially medical, itâ€™s crucial to have the right insurance so you can worry about your practice, not your policy coverage. Itâ€™s important to know what you are getting and even more important what coverage you need to protect your assets as the operation grows.
Medical office insurance is a big need but can also be very complicated. Itâ€™s important to have the right guidance from an experienced agent. ISU Oâ€™Connor Insurance Associatesâ€™ agents operate in a small business thatâ€™s family owned. We are just like you and our priorities center around our clients, as yours do your family, patients and employees. When it comes to understanding what you need and offering a sincere, personal touch, we will always beat the competition.
So what is a BOP?
Most medical practices need a Business Ownerâ€™s Policy or a â€˜BOPâ€™. This policy features liability insurance, property coverage and business interruption. The liability will provide you with insurance if someone has an accident while they are within your place of business. The property section covers your building if you own it and your business property including medical equipment and any medical or other supplies you have on hand. The business interruption is to cover your lost income while you are trying to get your practice back up and running after a covered insurance loss. The BOP policy can be customized to make sure your practices growing needs are covered at every turn.
Why is it so important?
Depending on how many years youâ€™ve been in business, you may already be familiar with the ins and outs of medical office insurance. However, growth brings on new changes and adaptations and as a medical practice, if you are in a growth mode, your needs have changed since you first put your policy in place. Do you feel confident that the equipment you just bought, the additional supplies you have on hand, and your clientsâ€™ paper records are covered by your insurance? If your medical practice property were to be compromised or destroyed, do you have the confidence you need to have in your policy? Or does that thought send terror up your spine? Getting your business back up and producing income for you is the number one priority for you, and for us as an agency. You deserve and need an agent who will walk you through step by step to make sure everything is in order for a disaster that we would all hope wouldnâ€™t happenâ€”saving you and you bottom line.
At ISU O’Connor Insurance Associates an experienced agent will walk you through a series of questions to learn more about you and what your practice needs. During the conversation the agent will help educate you, clarify the jargon, simplify the process and lay out the options so you can make an informed buying decision. With every aspect of ISU Oâ€™Connor Insurance Associates, we know that your needs are unique and your insurance policy should reflect those needs accurately.
Ready to get started? Just give us a few pieces of info and we will give you a call to start the conversation.