Insurance Tips

Insurance Tips:

tipMake a video of your house, including each and every room and all its contents (including drawers and closets). Store the video in your safety deposit box. At the time of a claim it is difficult to recall everything in a room. Go to the videotape!

tip When reviewing your car insurance choices, make sure to maximize your uninsured/underinsured motorist coverage. In spite of its name, it actually protects you should the other party not have enough insurance coverage to repay your damages.

tip Make sure to review the cost for any outdoor signs. Most business owners policy only cover outdoor signs for $1,000. Even an outdoor awning with your practice name must by insured by rider.

tip If you have a home business it is vital to add the business to your homeowner's policy. Homeowner's policies typically exclude home businesses - especially if it is a corporation or LLC.

tip Become accredited by an organization like the Joint Commission on the Accreditation of Healthcare Organizations (JCAHO). A Group like JCAHO performs regular compliance surveys, thereby helping doctors prevent malpractice lawsuits.

tip Train your staff. Education on standards of practice and proper risk-management procedures keeps the staff on their toes, thereby helping doctors prevent malpractice lawsuits.