To become a doctor, you have to devote years to studying and training. However, sometimes despite the best efforts, unforeseen circumstances can occur that can lead to legal or financial liabilities. To save on such financial liabilities, doctors can buy insurance policies like professional indemnity and personal accident cover. This article explores in detail, the insurance policies that doctors should take.
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Professional indemnity insurance for doctors provides coverage against expenses arising out of legal procedures such as lawyer’s fees. The policy can also protect professionals against claims arising out of malpractice, breach of confidentiality, and defamation.
Professional Indemnity Premium Calculator
This coverage is only for following professionals:
Apart from this, it offers coverage against unintentional errors and omissions. It is suitable for all medical practitioners who want to stay financially sound against unforeseen expenses.
Personal Accident Insurance
Personal accident insurance covers doctors financially in case they suffer any infections or accidental injuries at work. The insurance policy can also provide coverage for temporary or permanent loss of income due to disability, which can affect the insured’s ability to perform.
Apart from this, the insurance plan covers the family of the insured in case of sudden demise while performing their duty.
Property Insurance
Doctors typically invest in expensive medical equipment like X-ray machines, MRI scanners, and surgical instruments, which are essential for diagnosing and treating patients. Property insurance covers the loss or damage caused to such property or equipment due to fire, flood, or other unforeseen events.
Public Liability Insurance
Public liability insurance covers the cost of claims arising out of accidental injury or property damage sustained by third parties. It can protect the policyholder against claims arising out of medical errors or other incidents occurring on the insured territory/premises. It also covers the legal fees and settlements that may result from such claims.
Conclusion
Insurance policies like Public Liability Insurance and Indemnity help provide a safety net to medical professionals. These are the insurance policies that doctors should take to safeguard themselves against financial liabilities arising because of certain unforeseen events at work. The coverage under such policies also extends to the doctor’s patients and their entire practice.
Written By: PolicyBazaar - Updated: 17 November 2023
Profesiona Indemnity Insurance has been a game-changer for my consultancy business. It has given me the confidence to take on new projects and expand my services, knowing that I have robust coverage in place.PolicyBazaar has been fantastic in answering my questions and tailoring the policy to my specific needs.Thanks PolicyBazaar.
Pune
3.5 April 12, 2023
Bhavesh
Amazing Deals
I recently purchased Professional Indeminty Insurance from PolicyBazaar and the claims process is smooth, and has always been prompt in resolving any issues or concerns I've had. I appreciate the reliability and professionalism they exhibit.
Howrah
3.8 March 31, 2023
Bhuvan
Online Purchasing
Profesional Indemnity Insurance has been a lifesaver for my business. It offers comprehensive protection against any claims that may arise from errors or negligence on my part. The claims process was straightforward, and they handled everything efficiently. I highly value the peace of mind this insurance provides and would recommend it to any professional.
Madurai
4.3 March 13, 2023
Atif
Impressive Features
I had an excellent experience while buying Personal Indemnity Insurance. It was quick and easy to get a quote online and the premiums were quite affordable. The policy covers all the essential aspects, and the customer service team was responsive and supportive. I feel much more confident in my work knowing that I have this coverage
Agra
3.8 March 01, 2023
Tejas
Helped To Secure Confidential Data Of Company
As a Owner I had a high risk of loss of confidential data. Then my colleague suggested me go for PI Insurance at PolicyBazaar. So I visited their website and contacted the team. They answered all my queries, and when I got satisfied with the plan, I made a purchase. Thanks, PolicyBazaar.
Nashik
4.3 February 17, 2023
Ankita
Covers Legal Expenses
There was a party that made a claim against us for professional negligence by one of our employees. Thanks to PolicyBazaar which helped me protect our financial position and helped us during the claim process that covered our Legal expenses and Settlement cost. Highly Recommend this.
Allahabad
4.3 February 05, 2023
Monika
Covers The Risks
I bought Professional Indemnity Insurance from PolicyBazaar, as I was looking for insurance that could mitigate my risk associated with several professional services. Thanks to PolicyBazaar. It was worth buying. Highly Recommend it.
Jamshedpur
4.3 January 24, 2023
Riya
Helps Me To Focus On My Work
I was always concerned about my organization in order to safeguard against potential liabilities and unforeseen circumstances that could arise from professional negligence. So I bought PI Insurance at Policybazaar and found it good as it helped me to focus on my work without worrying about financial repercussions. So thanks to PolicyBazaar.
Vadodara
3.8 January 08, 2023
Shreya
Amazing Deals
I bought Professional Indemnity Insurance from the PolicyBazaar website and found it suitable for my business. I run a small company. I got terrific Deals at PolicyBazaar. It was an excellent Purchase. Thankyou PolicyBazaar.
Ludhiana
4.3 December 14, 2022
Doctor Vishal
Covers Professional Negligence
As a Doctor, I was searching for Professional Indemnity Insurance that could provide me coverage against claims for Negligence in my services. Then I visit PolicyBazaar Website. There I came across several benefits. So I made the purchase there. Thanks, PolicyBazaar.
+Premium varies on the basis of Occupancy, Business Activity & Coverage Type By clicking on "View Plans" you agree to our Privacy Policy and Terms Of Use and also provide us a formal mandate to represent you to the insurer and communicate to you the grant of a cover. The details of insurance coverage, inclusions and exclusions are subject to change as per solutions offered by insurance providers. The content has been curated based on the general practices in the industry. Policybazaar is not responsible for the factual correctness of these details.
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