Buying a Doctor’s Indemnity Insurance? Be sure to Consult an Insurance Broker
It is not uncommon these days to hear of negligence or malpractice cases filed against medical practitioners in India. The amount of compensation is also increasing, with patients asking doctors and hospitals to pay compensations in lakhs or even crores.
If you are in the medical profession, you must be familiar with the state of perpetual fear of lawsuits arising out of such cases.
For instance, you could have treated a patient in a critical health condition, and she might not survive the recovery period. This could make her family members think that you gave her the wrong treatment and they could file a lawsuit against you claiming medical negligence.
Dealing with such cases is not an easy task. It, therefore, becomes necessary to safeguard yourself against the risks and subsequent losses resulting from medical negligence. You can avoid major financial setbacks that often show up in the form of legal fees when you have indemnity insurance. It covers the cost of compensation as well, without burning a massive hole in your pocket.
If you are new to the medical field, you may not have the right knowledge to choose the right professional indemnity insurance policy. This is when an insurance broker comes to your aid.
Let’s look at the reasons why you must consult an insurance broker before buying doctors’ professional indemnity insurance:
You Don’t Know Much About Indemnity Insurance
Some insurance policies can be challenging to understand. To help you out, an insurance broker will guide you through the details of a plan and determine the level of the indemnity cover that you need. This way, you can make sure you are adequately protected.
Another advantage of working with insurance broking firms is that they have established track records, experience, and resources you need to make an informed decision.
You May End Up Paying Extra
While buying the indemnity insurance policy, it is crucial to gain sufficient knowledge to choose the right coverage. Since insurance brokers deal with a wide range of products, they know more than you do about the insurance sector in India.
Moreover, they can help you find a policy within your budget by providing you with several options to compare. With their support, you can weigh the available coverage options in terms of various parameters and bundle your plans with features cost-effectively.
You Know Nothing About Raising Insurance Claims
Being a medical professional, you may not know much about the indemnity insurance policies and how to file a claim.
Buying a policy through insurance brokers ensures full claim support as they never leave you on your own in case of a claim. They have a team of experienced professionals who understand the ins and outs of the claims process.
Since they work closely with insurance companies, they have strong relationships with these companies. They can ease your burden of filing a claim by following up with the insurer on your behalf until your claim gets settled.
You Don’t Know Enough About Insurance Coverage Limits
Choosing the right level of indemnity insurance can be a tricky job. To avoid possible confusion and stress, you can consult an insurance broker. Their team will assist you through the process, making you understand the inclusions and exclusions too. This way, you will get to know more about choosing adequate coverage for your profession.
SecureNow, being a renowned insurance broker, can help you get expert advice for better functioning of personal indemnity insurance. We also provide risk management tips to help you avoid financial setbacks. To get all these benefits, contact us, and one of our representatives will connect with you shortly.