4 Reasons to Call Your Insurance Agent

Running a chiropractic practice is a huge commitment that keeps you busy. Your commercial insurance probably isn't something you think about unless something bad happens and you need to file a claim. To make sure your coverage is up to date at all times, know when to call your insurance agent.

You have insurance to cover your practice in case of a loss. But your policies must reflect the correct information. Your insurance company needs to know details about your practice and equipment so it’s properly insured. That’s why it’s important to keep in touch with your agent and call whenever you make any changes.

Contact your agent if:

  1. You’re Buying New or Used Equipment
    Adding new or used equipment to your practice is an investment. It’s imperative to protect that investment if something happens.

    Any time you buy a new adjusting table, diagnostic equipment, a laser, ultrasound, or other new or used equipment, contact your agent. He or she will help make sure your business personal property is updated to reflect the value of the equipment so you’ll be adequately covered if a loss occurs.

     
  2. You’re Hiring Employees
    If you hire new employees, your agent will help make sure you have the appropriate workers’ compensation coverage in place to protect your employees and your practice. 

    This is especially important since most states have some sort of requirements regarding workers' compensation insurance. You could be subject to fines or penalties if you do not have the right coverage in place.

     
  3. You’re Changing or Adding Locations
    Anytime you relocate or add another location to your practice, call your agent. Your business owner’s policy coverage will need to be updated. Workers’ Compensation insurance may also be affected by a practice move if it results in any changes to your payroll. 
     
  4. You’re Remodeling
    You may decide to remodel your practice. This will increase the value of your property, so you’ll need to make sure your coverage is updated accordingly. It would be terrible to have your practice damaged in a storm or fire, but even worse if you weren’t insured for the correct amount.

    Even if you’re leasing your building and remodel or update your practice, call your agent. He or she can update your Tenants Improvements and Betterments Coverage under your business owner’s policy.

Remember, these are just a few examples of when to contact your agent. You can eliminate unwelcome surprises by reaching out periodically to review your coverage or whenever you make changes to your practice.

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