If you are a veterinary business office owner, your veterinary insurance starts with insuring your building and equipment for fire, natural disasters, theft and general liability.
Veterinarians, however, need more than just protection for their commercial office space. Just as with human medicine, a good veterinary insurance policy has malpractice insurance in case events go awry in veterinary medicine. Busy staff can have accidents or make mistakes. An animal may suffer an unforeseen issue you cannot prevent. Still, you may be held responsible in a court of law. Malpractice insurance can cover your business if anyone in your practice makes a mistake.
One area of concern for veterinarians is the "consent to settle" option in some policies. This means the veterinarian must give approval in writing to settle a case even if the insurance company recommends settling. In some cases, policies will not cover expenses incurred from a lost lawsuit if the insurer recommended settling and you refused, which is called a "hammer clause."
Sometimes business problems occur outside of legal matters in which an accident or a mistake transpires that can open you to liability. For example, a pet could be injured by putting it in an open area with another animal. An honest mistake like this could expose your company to liability.
Call ISU Lovering Insurance Services for a full explanation of all your options as a veterinarian. Different policies are available, and we offer policies for those who work only on small animals; for those who only work in the equine field; and for offices or for field work, respectively. Our professionals can help you find the best policy for you, so give us a call today and let us make sure you're covered.