Allison, Rita, Dolly, Ike, Harvey.
If you’ve been a Texas resident for any length of time, you know what these names have in common. All are tropical storms or hurricanes that have made landfall on Texas soil in recent years and have caused catastrophic damage. Now, hurricane season is upon us again – and many physicians are still recovering from damages inflicted upon their practices last August. The loss has been deeply felt in the medical community: practice owners and partners have sacrificed endless hours and invested countless dollars out of their own pockets to build their successful practices – only to have them snatched away by a brutal, unforgiving storm.
One such practice is NightLight Pediatric Urgent Care in Humble, Texas. See for yourself the damage this practice suffered at Hurricane Harvey’s hands:
Hurricanes and tropical storms are part of life for many of us in Texas. That is why a Business Owners Policy (BOP) can be such a comfort. You can think of it as protection that can create a calm place in the storm.
How Business Owners Insurance Protects You
A Business Owners Policy helps protect you in at least three ways:
Protects your property – A Business Owners policy protects your medical practice or healthcare facility in much the same way a homeowners or renters policy helps protect your home and personal possessions. Your Business Owners Policy protects the office, furnishings, supplies, medical equipment, computers, and data you use to conduct your medical practice. (If you lease your space, the owner of the property is responsible for damages to the structure, but your Business Owners policy protects your furnishings, records, computers, and medical equipment.)
Protects your lost income - A Business Owners policy helps cover the loss of income when you’re unable to treat your patients due to covered property damage. These benefits are a lifeline that can help you meet financial obligations while your practice is temporarily closed, such as rent or payroll.
Provides general liability protection – Although a Business Owners policy is not malpractice insurance and therefore does not cover liability related to the services you provide, it does help to protect you from lawsuits that allege injury or property damage that occurred as the result of your business operations. For example, if a patient trips and falls and is injured at your office or facility, or an employee causes damage to a patient’s property, these claims may be covered.
Practical Protection Convenient to Obtain
Choosing to cover your practice with Business Owners Protection is smart, and obtaining it is convenient. Through TMA Insurance Trust and MyLifeProtected, Texas physicians have access to experienced agents who can help you find the right coverage with the carrier that best fits your needs. Agents are available by phone (877-755-9579), email and live chat anytime between 7 AM to 8 PM CST weekdays and 9 AM to 5 PM CST on Saturdays.
Make owning your practice a little simpler by putting three levels of coverage in one policy - and save by obtaining BOP coverage instead of purchasing three policies separately. We understand how important your practice is to you. Don’t lose what you’ve worked so hard to achieve. Contact us today.
For over 60 years, TMA Insurance Trust advisors have been serving Texas physicians, their families and staff. TMA Insurance Trust prides itself on offering unbiased information and strategies to members, along with exclusive group rates on a range of the highest-rated plans in the industry.