Other insurance products you may need
When it comes to safeguarding your aesthetics clinic, there are a few insurance products beyond basic liability coverage that you may want to consider
By considering these additional insurance products, you can maintain comprehensive coverage for your aesthetics clinic, giving you peace of mind and the ability to focus on delivering exceptional services to your clients.
Another feature of this type of medical malpractice policy is public liability.
Public liability covers the cost of claims should your business activities result in the injury of a client, contractor or member of the public.
It is particularly useful for mobile aesthetic practitioners and lone practitioners, to provide cover against property damage when working in a client’s home or a rental property.
For example, if a patient tripped over your treatment bag with all your equipment in, they could pursue you for damages if they were injured as a result. Public liability cover would protect you in this scenario.
An additional feature of some medical malpractice policies is personal accident cover.
If you have an accident, whether at work or elsewhere, and are left unable to work, as long as you have been signed off work by a doctor and obtained a ‘statement of fitness for work’, the policy will pay you a weekly allowance until you are able to return to work.
It is a useful addition to a malpractice policy that will help support you and enable you to pay your bills and expenses during a stressful time.
At Hamilton Fraser, we offer insurance for both essential and more specialised cosmetic practices, from injectables and breast augmentations to a variety of beauty treatments. Get a quote online today or call the team on 0800 634 3881.
As your business grows, there are other key covers which are available to you – like clinic and surgery insurance.
Whether you have one cosmetic surgery or a chain of clinics, it is important that you are protecting your premises with the correct insurance.
We have developed our clinic and surgery insurance specifically for aesthetic medical professionals and can provide tailored cover to protect your cosmetic clinic, drugs and equipment against loss or damage caused by insured events such as storms, floods, escape of water and theft.
Clinics and surgeries often contain expensive medical equipment, aesthetic products and stock. In the event of accidental damage or an equipment breakdown, a contents policy would cover the cost of repairing or replacing the affected items.
Business interruption insurance covers you if you suffer a loss at the business premises due to an insured peril and are unable to operate. With business interruption cover, your income and any overheads you may be due to pay would be protected and paid out on your behalf.
This provides peace of mind about paying staff wages, for example, while you are unable to generate an income.
Indemnity is also available for portable equipment, which can include items such as laptops, tablets and mobile telephones, as well as any portable equipment you may use away from a clinic setting.
Cover for this can be extended to worldwide cover so if you travel for exhibitions and conferences then you would be insured if you need to replace them due to an insurable incident.
If you own your own premises, although not mandatory, it is advisable to purchase public and product liability for the premises. This differs from work away cover which is included under the initial medical malpractice policy.
It provides cover in the event that a member of the public was to become injured as a result of hurting themselves on your premises. This could be something as innocuous as a customer slipping over in reception or a more significant event like a tile falling off the building and causing an injury to a passerby.
Whether your premises are already covered depends on your lease. For example, if there is a freeholder, they may already have cover in place, so it is worth double-checking. If you are still unsure having spoken to the leaseholder, call your insurance provider, who will be able to discuss your specific requirements.
If you have any employees, then you are required by law to purchase an employer’s liability policy. This is the only other mandatory insurance policy required by law in the UK other than car insurance. It protects you in the event that an employee brings a case against you for an injury or illness while they are or were working for you. The minimum limit of indemnity you are required to hold is £5,000,000 but a lot of insurers will provide a £10,000,000 limit as standard.
When you purchase an employers’ liability policy you will be supplied with a certificate which needs to be displayed at the premises. If employers’ liability insurance is not purchased, you could be liable for a £2,500 fine for every day that you are not correctly insured and £1,000 for not displaying the certificate.
“At Hamilton Fraser, we offer far more than just insurance. Our expert in-house claims team is on hand to provide tailored support based on your individual requirements and we offer complementary JCCP membership as standard.
We constantly review the market and talk to our customers, to make sure that the service and cover we provide reflects our ever-changing environment and evolving customer needs.”
Get a cosmetic insurance quote online with Hamilton Fraser or call the team to discuss your requirements on 0800 63 43 881.
