IV Hydration Center Medispa Liability

March 17, 2021

Whether you're insuring  your own solo aesthetic business, whether it's a mobile IV hydration center or a medispa, it's important to consider how the insurance policy you purchase today will grow with you to accommodate new services, procedures and personnel.

Policies are issued either on an individual basis or underwritten at an organizational level.  When it is just you starting out, the carrier will categorize your application based on your license and the services you're offering. The premium is usually a function of your professional license, and the MediSpa Professional Liability Insurance Policy will respond to claims against you.  You can also add your business name so that any claims that include your business entity will be covered by the same policy.

As you grow, it is important to be able to transition from this individual insurance structure to an organizational level policy. Your individual policy should be able to give way to a liability policy that's underwritten by considering different factors. These premiums are developed by considering the total number of client visits, the type of services offered, and the projected annual revenue. 

The organizational IV therapy center and medispa policies accommodate growth well.  Their definition of the insured parties includes a collaborating physician or a medical director.  You can add additional providers as your business plan requires: nurse practitioners,  physician assistants, registered nurses, estheticians, nutritionists,  massage therapists, naturopathic doctors... any professional or provider that fits with your business plan can be included at no or very little added premium. Since the underwriters consider the total services and annual revenue, changing the number of people working on your behalf does not increase the premium significantly.

Keep in mind that there are some services, like Ketamine IV therapy, PRP, or some injectables used below the neck, that can be expensive, and these need to be individually underwritten and approved.

The insurance policies written at the organizational level for IV therapy centers and medi spas can be surprisingly affordable. These Wellness Medispa policies cover you as the owner, along with any partners, executives, and board members, as well as all professionals including the medical director, on the same per-claim limit policy.

The Doctors Insurance Agency has over 20 years of experience with Medical Malpractice Professional Liability Insurance for health care centers.

Visit our website, send us an email, or call with any questions about your growing health care business.