Medical Insurance Consultants of Yeovil - Insurance For Medical Professionals and Surgery Insurance

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Make Sure You Are Covered

There is only one type of insurance that a medical practice is required to have by law and that is employer’s liability cover (Employers Liability (Compulsory Insurance) Act 1969).  In addition, if there is a mortgage on the practice premises the mortgage lender will require, as part of the mortgage offer,buildings insurance cover and they will stipulate the minimum amount to insure it for.  They will also require their interest to be noted in the policy document.

This all sounds complicated but in fact it isn’t.  Both of the above can be easily included. In fact, the employer’s liability cover is automatically included in most surgery insurance policies.


Below are a few pointers that could make your life easier when it comes to renewing your surgery insurance cover:
• Ask your colleagues in other medical practices who they insure through and whether or not they are satisfied.
• Try and deal with specialist insurers/brokers.You will then be dealing with people that should know how a medical practice functions and who should be able to provide you with the advice that you need.
• If the practice has a mortgage do not assume that you have to insure through the lender.
• Make sure that you have a policy that has been specifically designed for surgeries rather than an ‘office policy’ that has been altered to include cover for surgeries. Some years ago I came across a so-called surgery insurance policy that gave the practice the facility to insure pinball machines! Could this be the next new revenue stream for practices?
• It is prudent to have an inventory of the surgery contents. This should form the basis for calculating how much you should insure the surgery contents for.
• Do not assume that when you see substantial discounts/offers etc. will give you the best package of cover and price.
• Insure the buildings and contents in one policy.  This will save you money.
• Make sure that you update your sums insured.  The last thing you want is to make a claim only to find that the practice is under insured and that the amount that you receive from the insurer is considerably less than you thought.


I think the following quote from a practice manager says it all: “It’s not all about cost, I want to know that I have the right cover and when I have a problem or want to make a claim my insurer/provider deals with it speedily and efficiently.”

Author: Simon Downing (Policy Director - MIC)

Publication: Primary Care Scotland May 2010 pg.10