The scenario
“I’m a domiciliary optometrist, covering a large geographic area in my own car during the course of my working day. I transport all my testing equipment – including portable fundus camera and hand-held slit lamp – with me whilst visiting patients. My dispensing optician colleague also transports a large number of highly valuable frames in the same way in her car. Is there anything we need to consider in terms of insurance to cover our equipment whilst we are in transit?”
Zara, AOP member
The advice
Emily Tyler, commercial development manager at AOP insurance affinity partner, Lloyd & Whyte
Whether you are an entirely mobile-based self-employed optometrist or own or work for an optometry practice but offer home visits, you may own your own equipment and transport it to and from various locations.
As such, you want to be sure that if your equipment is stolen or damaged you have the financial resources to replace it. If you sell products, you might transport these along with your equipment on a regular basis. In this case, you will need insurance for transporting expensive equipment and products.
Note: Exclusions to the equipment in transit insurance Lloyd & Whyte can provide include any theft of the insured property (optometry equipment) from any vehicle left unattended, unless the vehicle is locked at all access points and the keys are removed from the vehicle.
If you are a self-employed optometrist, you will be aware that you are responsible for bearing the cost of anything that might go wrong. When you have the right insurance in place you can focus on your job without the worry of how to meet costs should the unexpected happen.
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What to look for in your self-employed insurance policy
When you’re purchasing a policy that includes protection for transporting equipment, we advise that you make sure the following insurances are included, as standard:
- Legal expenses insurance – can cover legal fees that arise from legal disputes
- Product liability insurance – covers costs associated if you or a member of the public falls ill or becomes injured because of a product they buy from you
- Public liability insurance – covers costs that may arise from a non-treatment related injury to a member of the public that you have allegedly caused
- Money and assault insurance – covers loss or theft of money from your business premises, home, or in-transit, and bodily injury to you or your employees because of assault whilst carrying money belonging to the business.
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What else can be included in your policy?
The following insurances can be included in your self-employed insurance policies to enhance the standard protection, dependant on your specific needs:
- Employers’ liability insurance – a legal requirement if you employ people to work for you
- Business equipment insurance – insurance for business equipment which includes loss and damage whilst at the premises, or within Europe and worldwide for up to 30 days
- Stock insurance – provides financial protection for any stock you may have
- Business interruption insurance – should you need to stop trading or working due to an insured event, business interruption insurance can help reimburse the lost income or alternatively cover increased costs relating to the continuation of operating your business.
- Personal accident insurance – can provide compensation should you or your employee become seriously injured or die through accidental bodily injury.
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Business interruption insurance – explained
If your equipment is stolen or damaged, you will probably have a time period where you might be unable to practise while you source replacement equipment. Your policy should provide cover for loss of earnings in the form of business interruption insurance.
In summary
Lloyd & Whyte provides self-employed insurance policies for optometrists that include a range of insurance products designed to meet the specific needs of your profession. If you own an optometry practice and require practice insurance, we can also arrange a policy tailored to your business.
Book an insurance review with Lloyd & Whyte online or call: 01823 250 700
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