Four Instances When You May Not Be Properly Insured

Forearm in a cast1. When your disability insurance doesn’t cover your medical malpractice premiums.

If your long-term disability policy does not cover your medical malpractice premiums, it could be a big problem in the event of a disabling illness or injury, and subsequent claims. Review your disability coverage to determine if you have any gaps in this area.

2. When property insurance isn’t enough.

Whether you own or lease your office, you probably have property insurance. That’s good. In the event of fire, storm or theft, you’ll have money to replace your equipment, signage and furniture. But what if that event means you have to close your office for a period of time? You and your employees will lose income, and your property insurance won’t compensate you for lost income. Business interruption insurance could be a good idea.

3. When you’re employed by a group or facility.

If you work for a medical group or hospital, your employer may provide professional liability insurance. But if you are involved in a lawsuit, your employer-provided insurance may not be enough to protect you. Carefully review your employer-provided professional liability coverage and identify any gaps that may put you at risk.

4. When you have student loan debt.

Illness or accident can happen to anyone. Datashow that if you are younger than 35, chances are one in three that you will be disabled for at least six months during your career. And during that time you will still be responsible for your debt and expenses. Disability insurance protects your greatest asset: your ability to earn a living. Many policies also cover repayment of loan debt.

Find out if you and your practice are properly insured

It’s easy to learn if there are any gaps in your coverage. Contact the Britton Agency. We’ll consult with you at no cost to determine where you are at risk. We’ll do the comparison shopping that saves you time and money. Then, we’ll provide you with quotes from multiple leading insurance carriers, and make sure you receive all the discounts available.

Call a Britton Agent to discuss your disability insurance coverage options in detail. Call 800.462.3401

* Source: Gallup survey conducted for UNUM Corporation (508 respondents ages 30 to 65), reported by Best’s Review.

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