Audiologist professional liability insurance also known as errors and omissions insurance for audiologists an insurance coverage that provides financial protection to the audiologist in the event they cause damages, losses, or bodily injury to clients or third parties as a result of their negligence, errors, or mistakes.
This insurance kicks in to pay for damages only if the cause of damages are covered by the policy.
Everything Audiologists Needs To Know About Hearing Aid Services, Audiologists Insurance
As an audiologist in the Ontario area, you will be tasked with the job of identifying, diagnosing, treating and monitoring disorders in the auditory system. Most of your patients will probably be elderly and all the care in the world will not always prevent an injury to a frail body.
Plus, even the most carefully evaluated patients can file a lawsuit for negligence. A lawsuit like this could result in the closing of your practice. After all your hard work and dedication this is something that you probably want to avoid at all costs. And, hearing aid services, audiologists insurance can help you do just that by providing financial protection in the event a lawsuit does come your way!
What Can Hearing Aid Services, Audiologists Liability Insurance Do For You?
There are tons of medical malpractice suits floating around right now. Even the most careful audiologist can be slapped with a lawsuit. These cases usually result is tens of thousands of dollars or greater worth of settlement claims. This is the type of lawsuit that could cause a small audiologist to close up shop for good.
When you misdiagnose, cause harm or give a patient bad advice, they have the legal right to sue you for the pain and suffering that the endured. Whether these are just frivolous claims or you were negligent, you are going to be looking at a long, drawn out, and expensive court case.
This is exactly why professional liability hearing aid services, audiologist insurance is essential for the audiologist. This insurance will not only cover your court costs and lawyer fees, but it might even cover the settlement if you have the right amount of coverage.
Keep in mind, the coverages mentioned above must exist on your policy for you to be protected. Make sure to ask your broker about policy wordings!
How Much Does Hearing Aid Services, Audiologist Liability Insurance Cost
Every professional audiologist in Ontario, Canada will pay different premiums for their insurance coverage. And, this is because insurance providers base their price rates on specific factors. These factors that determine your overall cost can include the number of employees that you have, the number of patients that you see and even the amount of money that you make at the end of each year. Of course, there are more factors, but this is just to give you a basic idea of what they are looking for.
While no two professionals will pay the same for coverage, most audiologist will pay anywhere from $400 to $1,500/year or higher for this type of policy.
How Much Hearing Air Services, Audiologist Insurance Coverage Do You Need?
Acquiring the right amount of coverage will be imperative to ensuring that you, your employees and business are protected. You will find that every provider offers different coverage options, but the idea is to plan for the worst. You never want to face a lawsuit that your insurance won’t cover.
This is why it is best to go for at least a 2 million dollar policy.
Get Covered With Our Policies
We are an Ontario based insurance provider that can offer you the protection you need for every possible situation. For instance, you are going to have patients constantly in and out of the office.
Isn’t it possible to think one of them could trip over a chair or slip on a wet floor? Are you going to be able to cover the medical expenses or potential lawsuit? With commercial general liability insurance you won’t have to.
We also provide a number of other policies that can protect you protection in unique situations. All you have to do is just give us a call, speak to a broker, and get a free quote.