Contingency Plans for Insurance – Is Your Animal Clinic Really Covered?

As a veterinarian in business for yourself, you know you need fire & casualty insurance in case of emergency. Did you also know that having such policy requires you to have a contingency plan, also known as a disaster preparedness plan, for various scenarios in order for that insurance policy to cover your business? If you don’t, you could be subjected to higher rates and to the possible non-renewal of your policy.

Ensure you are eligible to receive the benefit you paid for with your policy by establishing your contingency plans. If your insurance agent does not cover this topic with you, you have two options:

(1) Ask your current insurance agent to review the policy language regarding contingency plans, and ask your agent to write your contingency plans with you. If your agent knows nothing about it, or if your agent avoids the topic or refuses, see #2 below.

(2) Change agents. Broker Tom Ostdiek of Ostdiek Group, Inc. cares about his clients and works with each one to ensure the policies they purchase are the most appropriate for each client. He and his team also ensure that the policyholder knows about the contingency plan requirements and works closely with the client to complete the contingency plans.