When starting into practice there will be many concerns to address. One major concern that will need to be tackled immediately is insurance - and not the kind your patients bring in! 

I'm talking about insurance for YOU as a doctor and business owner.  Your head may be swimming with questions like what kind, where to find it, why it's needed, and who can help? 

There will be certain policies that will be mandatory while others will be elective, but recommended.  Some policies to consider include professional liability (malpractice), business owner policy (BOP), disability, and life insurance.

Malpractice Insurance - This will provide you protection from lawsuits, and is most often related to healthcare professionals as well as others, like attorneys. This will be your must have.  In fact, many insurance companies will not allow you to be a participating provider without evidence of an effective malpractice policy.  Let's face it, the way the world is today, having sufficient insurance coverage is a key component of being financially secure.  While there are several good companies out there, with NCMIC you will be very pleased, like I am.  They recognize new D.C.'s financial instability and work with new practitioners. If you need advice or have a touchy situation, they are ready and willing to listen and offer advice. 

Business Owner Policy (BOP) - This type of insurance can be compared to a homeowners policy for business.  Typically you will be covered in the event of property damage, harm done by an employee, and lawsuits arising from accidents. This is not a mandatory policy but HIGHLY recommended.

Disability Insurance - This insurance will replace a portion of your income if you become disabled and/or no longer able to work.  As chiropractors we work daily with our hands and use manual therapy to make a living, so going without this insurance s a big risk. 

Life Insurance - This is a unique insurance because, even though there can be personal advantages to having life insurance, the real impetus is love or concern for those you care about - to make sure they are taken care of in case of your death.

The truth is, I'm not a professional in this area.  Most of what I learned about insurances I fingured out after already being in the trenches.  For new grads or those still in school, ASK questions.  Talk to teachers, docs in the field and representatives from insurance companies like NCMIC.  I don't know all the asnwers when it comes to insurances, but I do find relief knowing I have taken care of myself and my family. 

Take it in stride, get insurance while you are insurable, and don't put it off!!