Optometrists & Opticians

Optometrists & Opticians Insurance

Every day, you help patients to see more clearly. But when it comes to making sure you have the right insurance to protect your practice, the view may look a little blurry. It shouldn’t be a strain on you to foresee risks that can impact your business. That’s why we’ve curated some true-to-life examples of challenges a practice like yours may face – to help you understand your exposures, and the types of insurance you might need, with clarity.

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Core coverage where it counts

The right solution begins with the essential coverage your business needs, all delivered through our thoughtfully designed Business Owner’s Policy (BOP), including:

Property – Protects buildings, furnishings and fixtures, product supplies/inventory, personal property, and expensive equipment used to provide services.

General Liability (GL) – Covers damages, settlements and legal fees if you are sued or held liable for unintended premises bodily injury or property damage. We offer GL limits up to $2M/$4M, including Products Liability and Personal & Advertising Injury.

Business Income and Extra Expense (BIEE) – Protects your revenue stream, helping you get back up and running if a covered loss impacts your business.

Our BOP also includes a few other key coverages to protect the health of your business: Computer Equipment; Data & Media (EDP) – Equipment Breakdown – up to the BPP limit; and Employee Theft and Dishonesty.

Cover the bases - coverages that can be added

Workers Compensation
Umbrella – Up to $25 million for catastrophic losses.
Commercial Auto – Comprehensive coverage for vehicles owned and registered to your business.


40.14M

People who bought glasses or contacts in a doctor’s office in the previous 12 months.
(Statista Spring 2017 Industry Report)

14M

About 14 million Americans 12 years and older self-reported visual impairment.
(CDC.gov initiative on vision health)

18%

Projected growth rate for employment 2016–2026.
(bls.gov/ooh.healthcare)

$40.36B

U.S. Vision Care Market size (and yes, that’s with a “B”) including $16B for optometrists.
(Statista Spring 2017 Industry Report)

Real-world examples

Please wade in the lobby.

After a burst pipe over the weekend, the staff arrives Monday to find the office – eyeglasses, equipment, office supplies and all – floating in a foot of water. Rather than ask clients to paddle through, they close for five days to clean up and replace damaged equipment. Some appointments were able to be rescheduled; others were not. The Daily Limit option in Medical Dental PremierSM covers lost income up to $5,000/day for 15 days – even if the client appointments are all rescheduled.

The court will decide whether age comes before beauty.

A 62-year-old optician believes the owner replaced him with a younger woman to help the office appear more youthful. He sues the office practice, alleging age discrimination. Employment Practices Liability+SM (EPL+SM) helps cover legal defense costs, regardless of whether the owner is found at fault – as well as potential settlement damages, up to the EPL+ coverage limit.

When the pupils fail the light exam.

As part of a routine exam, an optometrist dilates a customer’s pupils. The patient doesn’t feel comfortable driving after such a procedure and arranges for her spouse to drive her home. She leaves the office and begins to walk toward a nearby bistro to meet her spouse for lunch but the bright sun impacts her vision. Mistaking a concrete parking curb for a painted line, she trips and comes face-to-face with the pavement. The practice later finds that the customer is suing them for failing to adhere to standard of care. The optional Optometrists Professional Liability add-on is available to address bodily injury arising from an optometric incident.

Content Provided by Travelers Insurance Co.

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