You’ve dedicated time to building a base of knowledge applicable to your passion. We’ve dedicated time to understanding risk to protect our neighbors. With a mutual love of animals, we take great care and pride in servicing our veterinarians.
Veterinarian practices have a considerable set of moving pieces. Add to the staff, building, and clients, risks inherently associated with animals, and you have a business with a substantial amount of risk. Enter the scene insurance. We know that insurance is not a popular topic. It is our job to simplify the necessary, and deliver understanding, confidence, and peace of mind.
Veterinarian Practice Operations
Common business exposures are present in veterinarian practices and will be considered for a comprehensive business solution for insurance. Of course, the aspect of pets changes the climate, and will be the focus for tailoring coverage. Families with pets, view the animal as a member of the family and will dutifully file suit should damages occur. From an agent’s perspective, we will work to select a Carrier that is favorable to animal risks and offers a complete product at a competitive price.
Insurance Coverages Products for Veterinarians:
– General Liability
– Commercial Property
– Business Income
– Workers Compensation
– Employment Practices Liability
– Cyber Insurance
– Animal Bailee Coverage*
Animal Bailee Coverage
Not all insurance companies offer coverage for animal risks. It is imperative to work with an independent agent with the ability to match the correct company with the risk presented. Insurance Companies (Carriers) that have the capacity for animal risks will include coverage items not offered by others.
One such coverage is animal bailee coverage. This provides insurance for events arising out of the care and custody of a client’s pet. Should an animal become injured or lost while under the care and supervision of the vet, the policy would step in to help recover from the loss.
Veterinarian Practices and Financial Health
Insurance by technicality is a financial product. It is designed to protect against the monetary aspects of losses that occur during business. The collection of policies chosen is considered the solution to monetary risk management, yet this is to hedge unknown events.
Veterinarian technicians and professionals must carry the weight of fiscal responsibility from the onset of their careers.
Managing the costs of good debt and medical school is just a precursor to the trade. While our agency is prepared to help you protect what has already been built, we have been fortunate to connect with others in our community that serve veterinarians and medical professionals in complimentary capacities.
Michael Acosta, CFP, is a financial professional in Charlotte, NC, that specializes in helping individuals manage the financial landscape of a medical career. His attention to detail with veterinarians makes him a necessary inclusion in this article. Should you be considering the horizon of embarking on launching a practice, or managing the debt that comes alongside the industry, Michael is a trusted advisor that can help.
For everything else insurance, we are one phone call away!
