Professional Liability Insurance for Optometrists

Why Do Optometrists Need Professional Liability Insurance?

Just like any healthcare professional, optometrists want to have professional liability insurance (also referred to as medical malpractice insurance) in case someone accuses them of acting negligently or files a malpractice claim against them.

For example, a patient could allege that you failed to diagnose a detached retina. Or, you could be asked to respond to a HIPAA violation investigation. In either case, you’ll likely want to have legal counsel and funds available to resolve the matter. Having your own dedicated malpractice policy can help to relieve much of this burden.

How Much Does Optometry Malpractice Insurance Cost?

Optometry malpractice insurance policies typically start at around $500 a year and go up to about $1,000 a year. That said, the actual cost of your policy will depend on a number of factors, including:

  • How much coverage or limits of insurance you want
  • Where you practice
  • Your level of experience and education
  • How many hours a week you work
  • The best way to get an accurate idea of what a professional liability policy would cost is by getting a quote. The process takes a minute or two, and — if you choose to purchase — your policy can go into effect any day you’d like, including the day you purchase.

    Why Buy Your Optometry Malpractice Insurance From Berxi?

    We’re working to create a simpler, faster, and better insurance experience for our customers, and we think we’re the right choice for optometrists. But, we also know that this is a really important decision, so we want to make sure you have all the information you need. Here are a few things that set us apart from other insurance companies:

  • We’re part of Berkshire Hathaway Specialty Insurance Company. You could say that we’ve got the best of both worlds: while we’re as flexible as a start-up, we also have the financial stability to make sure we’re around for the long term.
  • We’re a direct-to-customer model. This means that we’re not just the people who sell you an insurance policy – we’re also the people who’re responsible for handling your claim. There’s no one in the middle; it’s just us and you. Plus, working directly with us eliminates fees that are typical in insurance transactions. In fact, buying direct from us can save you as much as 20%. (You can even get a quick quote now and see for yourself.)
  • We’re digital. You can go onto our website to get a quick quote, buy a policy, and download your certificate of insurance – all in the exact same day. And if you ever need to file a claim, you can also do that digitally, too.
  • We’re here for our customers. When you call our support line, you won’t have to navigate through an endless phone tree or argue with a robot: you’ll reach a real-life human being who’ll work hard to answer all your questions. And if claim is ever filed against you, our team will help you to navigate the claims process.
  • What Does a Berxi Professional Liability Policy Include?

    Policy features may include:

  • No deductible requirement
  • Occurrence and claims-made policy options. (Don’t get the difference between the two? No worries - we’ve created a handy article that breaks it down.)
  • Unlimited tail coverage option for customers with claims-made policies
  • Defense costs are provided in addition to the limits of liability (so your legal fees don’t reduce the limit of insurance available to pay settlements and judgments)
  • Flexible options for the amount of the limits of insurance
  • Payment plans
  • And did we mention we are often 20% less than competitors because you buy directly from us?

    Does Berxi Offer Optometry Malpractice Insurance for My Entire Practice?

    Wondering if you can insure the other optometrists in your practice? The answer is yes! Call us at 833-24-BERXI (833-242-3794) and we’ll be there to discuss your insurance needs.

    We started Berxi because we believe that we can make insurance better, faster, and more affordable by offering you a direct connection with an insurance company that cares about your needs. That means that you buy directly from us and you talk directly to us. We know you expect fast, seamless results from a company that really understands you — and that emphasis on technology, compassion, and customer satisfaction is all built into the Berxi mission.
    Adam Yasan, Managing Director Berxi

    What’s Covered Under a Berxi Medical Malpractice Policy?

    Industry Coverage

    Medical Malpractice Coverage
    Defense Counsel
    Worldwide Coverage
    Good Samaritan Coverage
    Sexual Misconduct/Abuse

    Automatic Coverage Extensions

    Information Privacy Coverage (HIPAA)
    License Protection
    Defendant Expense Benefit/Deposition Representation
    Reputation Coverage

    Additional A La Carte Coverage

    Business/General Liability Coverage
    Medicare/Medicaid Reimbursement Endorsement

    * “20% savings” is based on industry pricing averages.

    ** Quote and issuance of a policy are conditioned upon receipt and approval of the following 1) Practice Location; 2) Profession / Specialty; 3) Employment Status; 4) Coverage Type; 5) Hours Worked; and 6) Prior Claims Activity. Final pricing and terms of coverage may vary.

    *** Terms, pricing, and coverage may vary.