In addition to it being good business practice to have a General Liability and Property insurance
policy, many leases, mortgage companies, and other contracts require it. You will need to have
some estimated values about your property to receive a quote.

What information should I have available when I call for a quote? Consider the amount of
coverage you may need in these areas:

● Contents Coverage – If you turned the office upside down, how much would it cost to
replace everything that fell out? Things that may be included are exam tables, office
furniture, decor, etc.
● Computers / Electronic Data Processing (EDP) – This includes computer equipment.
While some insurance companies include computer equipment with contents, some ask
the value separately.
● Tenant Improvements and Betterments – Typically, these are items permanently affixed
to the premises that cannot be removed if the tenant leaves. Many leases require that
that tenant pay to rebuild these items if there was a total loss. Check your lease for
details. For example, if there was a fire and everything was destroyed, who would pay to
restore the permanent cabinets, partitions, light fixtures, etc.?
● Building – What is the cost to replace the building? (If you are required to insure the
actual building structure.) This does not take into consideration the market value of the
building. The reason for this is that in the event of a total loss that destroys the building,
you would still have the land.

Other Considerations:

● Equipment that may leave the office premises – Do you provide off-site sports physicals
or attend off-site events and bring medical equipment, laptops, exhibit booths, etc. with
you?
● Spoilage – vaccines, injectables, etc. that require refrigeration
● Fine Arts – Many policies include coverage for typical office decor, However, if you spend
more that $5000 on any particular piece of artwork, you should let your insurance agent
know so they can verify that there is coverage for it on the policy.

Contractual Requirements:

● Check your lease for specific insurance requirements
● If you own or lease an office condo and are subject to CC&R’s, check to see if there are
insurance stipulations.
● Do you own the building? If you have a mortgage, there may be insurance provisions.

InsureGen can help explain each of these areas to you and assist in determining how to provide
coverage for your practice.