When you start up in business you will need insurance cover. Contact an insurer and explain how the business will operate. They will then be able to recommend what cover you should have. This might include:
- employer's liability
- public liability
- product liability
- professional indemnity and medical malpractice/negligence
- premises, premises contents
- motor insurance (for business vehicles)
- loss of earnings and locum cover
Medical malpractice insurance should cover the full range of activities that you undertake in your practice. Make sure that it covers both yourself as an individual practitioner and the practice as a whole. If locums and other freelances work on the premises, be clear about what the insurance position is.
Premiums may be paid in a lump or they may be paid in instalments. Your insurer will be able to advise you of the amounts due. Enter them in the months when you will have to pay them.
Some trade associations offer special rates on specialist insurance packages for their members.