Medical Spa Insurance  from Massachusetts Specialists

What is Medical Spa Insurance?

Medical spas are exposed to an array of risks, including both property- and liability-related perils. Medical spa insurance policies help protect medical spas located in Massachusetts from a variety of covered perils.

Medical spa insurance policies are specialized commercial policies that have been uniquely crafted to meet the risk mitigation needs of medical spas. Most policies come with several coverages that work together to create a web of protection.

What Massachusetts Businesses is Med Spa Insurance Right For?

Most medical spas in Massachusetts ought to have med spa insurance in place. This type of policy generally provides the best protection against the risks that these spas face, and few spas could recover from a major liability lawsuit or natural disaster without suffering devastating financial loss.

Importantly, some other businesses may have similar coverage needs but actually be better protected by a slightly different type of commercial policy. Day spas that don’t offer any medical services, for example, usually find that day spa insurance policies are more suited for their particular needs.

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What Coverages Do Med Spa Insurance Policies Provide?

There are many different coverages that med spa policies may provide. Some of the more commonly available protections are:

• General Liability Coverage, which may cover common accidents involving third-party injuries and property damage
• Product Liability Coverage, which may cover equipment failure resulting in client or third-party injury
• Anesthetist Liability Coverage, which may cover mistakes made by RN anesthetist employees
• Cyber Liability Coverage, which may cover online threats and data breaches
• Regulatory Fines and Penalties Coverage, which may cover accidental legal infractions
• Commercial Umbrella Coverage, which may cover expensive liability lawsuits that exceed other coverage limits
• Commercial Property Coverage, which may cover owned facilities and equipment

In addition to these, medical spas may also want business interruption coverage, equipment breakdown coverage, and/or professional liability coverage.

When selecting professional liability coverage, spas should check to see whether the coverage includes protection against sexual assault allegations, malpractice claims and HIPAA violations. A robust coverage that’s designed for medical spas likely will.

Sorting through so many coverage options can be daunting for businesses that aren’t familiar with the many choices. Working with an agent who specializes in these types of policies, however, makes selecting the right protections easy. A knowledgeable agent can provide informed suggestions based on a spa’s specific situation.

Do Medical Spa Policies Come with Workers Compensation Coverage?

While many medical spas have employees and are generally required to carry workers compensation coverage, this protection isn’t always included in medical spa policies. Instead, spas that need it often get the coverage through a separate policy that provides only workers compensation.

Are Med Spa Insurance Policies Expensive?

Premiums for med spa insurance policies vary, but these policies normally are affordable. Carrying coverage is almost certainly less costly than facing a major claim without any protection in place.

An independent insurance agent can help spas find a policy that provides the coverages they need and fits within their budget. Independent agents are able to request quotes from multiple insurance companies, which lets spas compare coverage options and premiums.