How to insure the risks in your practice

Highly valuable equipment is to be found in a medical practice, and perishable goods and samples are stored there. A power failure, a broken pipe or a burglary can quickly cause major damage. We will show you which insurance policy you need to protect your practice inventory against such events.

19 November 2020, text: Natascha Fabian, photo: Unsplash

Woman in a medical practice — A laboratory has high-quality inventory and stores sensitive goods. How is that insured?

It all happened so quickly. As a result of a broken pipe your practice is under water and your medical equipment is damaged. Or a power failure causes your refrigerators to fail and all the drugs are spoilt.

Property insurance covers the practice inventory

Property insurance, also known as movable property insurance, replaces the movable goods and fittings of your medical practice following a loss caused by fire, natural forces such as storm or hail, as well as in the event of water damage. It covers loss of income and reimburses the additional costs incurred if, for example, samples from a medical examination have become unusable as a result of the event and the examination has to be repeated.

Property insurance also applies in the case of theft from the practice premises – including for personal items belonging to patients or staff. It also covers the spoilage of any drugs, blood specimens and lab samples if your refrigerators fail and the cold chain is interrupted. Other risks such as glass breakage or malicious damage can be individually included.

Technical insurance for your medical equipment

There are other risks which can cause the failure of your expensive medical devices or other equipment, such as the IT infrastructure. Collision damage, breaks or cracks resulting from internal or external influences, malicious damage or chewing by animals. It pays to have technical insurance. The costs of restoring data are also included, if your IT system is damaged.

End-to-end consultation from Helvetia brings clarity

Property insurance covers only movable inventory, fittings and goods. For that reason it is important to supplement the insurance package with further cover elements such as liability insurance or legal protection insurance. When it comes to business clients, Helvetia sets great store by systematic risk analysis and end-to-end consultation. This gives you clarity about the potential risks and how you and your company can be safeguarded according to your needs.