When you start up in business you will need insurance cover. Contact an insurer and explain to him or her exactly how your business will operate - they will then recommend what cover you should have. This might include:
- professional indemnity insurance (don't forget to cover online pharmacy services if you intend to offer them)
- premises, premises contents and stock
- goods in transit (for example, on the way back from a cash and carry)
- business interruption
- employers liability
- public liability
- motor insurance (for collection/delivery vehicles)
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 pay them.
The National Pharmacy Association (NPA) offers a range of insurance services tailored to the needs of pharmacists. Full membership of the NPA includes pharmacy professional indemnity insurance and public liability cover. Visit the NPA website for details.