Your practice’s office building, its contents, your fellow ODs and other employees are crucial elements to the success of your practice and ability to provide outstanding patient care. Imagine the consequences for your practice if there were a serious accident, fire or theft. These disasters can impact your ability to care for patients and run your practice, plus they can be costly.

With a Business Owner’s Insurance policy (BOP) from Lockton Affinity, your practice can receive a tailored combination of insurance coverage, including:

  • Business property coverage—Helps cover your building and its contents, including your equipment, furnishings and inventory.
  • Business interruption coverage—Helps make up for some of your lost income if your practice experiences a fire, break-in or other business-disrupting event.
  • Crime coverage—Helps cover acts like petty theft and funds transfer fraud committed by staff.
  • General liability coverage—Helps cover your practice for lawsuits or damages that result from a third-party personal injury or property damage claim.*

*Please note, the AOA-Endorsed Insurance Program also allows you to easily add General Liability insurance to your Professional Liability coverage. If you have questions about the best way to address your General Liability needs, contact Lockton Affinity’s dedicated team at (888) 343-1998.

Examples of Business Owner’s Policy Coverage

This broad coverage protects you and your practice from everyday risks such as:

  • A patient enters your practice and trips over the floor mat in the entryway. In the fall they suffer a broken hip, resulting in costly medical bills and a claim for personal injury damages. Your BOP protects you and responds to the medical bills and defense costs if the patient were to sue as a result of their injuries.
  • A rash of burglaries hits the area, and your practice is broken into overnight. The thieves steal some equipment, two computers and TVs. Your BOP coverage helps you replace the stolen property.
  • A fire damages your office, and the resulting damage forces your practice to be closed for a week to allow for the repairs to be completed. Your BOP can provide coverage for the damage to your office as well as the lost revenue associated with having to close for repairs.


Advantages of BOPs Over Individual Policies

A BOP insurance package offers several advantages for optometric practices:

Convenience: A BOP is a convenient way of buying insurance. Getting coverage for your practice can be confusing and stressful enough without having to pick out all the right coverage à la carte.

Cost savings: A BOP can save most practices money on their coverage. That’s because the package is designed so that coverage doesn’t overlap, eliminating the likelihood of duplicate coverage.

Broad protection: A BOP can help ensure you have all the standard coverage you need. You won’t be risking coverage gaps and exposures that are possible when you combine generalized standalone policies.


Why Optometric Practices Need Business Owner’s Insurance  from Lockton Affinity

A BOP is consistently one of the most popular insurance policies available for small- to mid-sized businesses. It is a quick and easy way to get the standard industry coverage and limits your practice needs in one convenient package. For optometric practices with property and liability risks, it’s a smart choice.

If you have questions about how a BOP can benefit your practice, Lockton Affinity has you covered. We partnered with the American Optometric Association more than a decade ago to meet the insurance needs of doctors of optometry by offering individual products like Malpractice insurance and business insurance products like BOPs.

Explore additional coverage options to protect your practice today or call the Lockton Affinity team with specific questions at (888) 343-1998.