Professional Liabilty Insurance for MediSpas

Medical Spas, or MediSpas, require unique insurance coverage because they are a part of both the medical and beauty industries. Due to their unique situation, MediSpas need both a Business Owners Policy and malpractice insurance coverage. A BOP is necessary to protect the company from liability from day-to-day operations while malpractice insurance provides coverage for the unique services that MediSpas provide.

                MediSpas are a relatively new type of business that combine typical spa services with less common aesthetic procedures such as botox and others that require a physician. These procedures carry a higher liability risk than normal spa services and thus require specific coverage, tailored to each MediSpa.

                Some might think that insurance premiums would be the same for most MediSpas, but professional liability insurance premiums can vary greatly for each MediSpa on a case-to-case basis. The reason there is so much variance in premiums is due to the different types of procedures performed at MediSpas. Some MediSpas perform only minor cosmetic procedures with very little risk, while others perform much riskier procedures that bring with them more liability. Insurance companies have had to adjust by taking account of which procedures each MediSpa offers and basing premiums off them.

                When searching for the right insurance to fit the needs of a MediSpa, it is important to have an experienced broker that will be able to work with carriers to provide you with the right amount of coverage. Some questions that might be asked are:

  • Who needs coverage at your MediSpa?
  • What procedures do you offer?
  • Do you currently have professional and general liability insurance?
  • How many employees do you have and what services do they perform?

For more information, contact Presidio Insurance Solutions.

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