Personal Liabilities
A knight doesn’t wear armor to look good.
Their armor serves an important purpose; to protect them from danger. The heavier the armor, the better protected they are.
Liability Insurances are about financial protection. There are many forms of insurance to protect one from being held responsible (by law) for something that was caused by you, your practice, on your property, or by your vehicle. The most common and necessary forms are Malpractice, Home, Auto, Business, and Umbrella insurance. Umbrella protection can be one of the least expensive ways to add protection above and beyond the limits of your home and auto insurances and is primarily offered in increments of one million dollars.
Being a practitioner, it is extremely important to have strong protection. Working with someone who has a keen understanding of your profession and the ways to properly minimize the threats to your wealth is paramount. While there are agents of specific insurance carriers who can be very helpful, we usually recommend using a broker for your insurances. An agent is usually licensed and appointed to sell for one company, also known as being “captive”. A broker usually has multiple insurance carriers to offer, can offer you much more transparency, and will put your needs before their own.
Once you’ve donned a solid armor of liability insurances, it shouldn’t stop there. They should be reviewed at least every two years. As your income grows, so do your liabilities. And as time goes on, carriers often get more competitive with rates. A biennial review with your broker will ensure you’re properly protected, and you aren’t overpaying for what you need.
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Contact Doctor Protectors to get connected with a liability protection specialist today.
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How Doctor Protectors Can Help?
We understand medical and dental practitioners face unique challenges, with limited spare time. We are experts at understanding the nuances of the many different insurance carriers and their policy options, so you don’t have to!
Doctor Protectors provides a concierge approach and streamlines the process of obtaining personal and malpractice insurances by leveraging multiple top carriers to provide the best rates and solutions available to protect you and/or your practice.
