Anesthesiologists help monitor a patient’s vital functions during surgery. You can carry significant liability. Anesthesiologist insurance is a great way to protect yourself and your business from customer lawsuits and other liability claims. Keep reading as we explore critical topics and components of an excellent insurance policy for your anesthesiologist business.
Anesthesiologists need insurance to protect them from significant financial liabilities in the medical industry. Most states do not require that an anesthesiologist carries a liability insurance policy. However, most hospitals and clients demand anesthesiologists to have some form of liability insurance.
| CoverWallet | NEXT (Best) | Thimble | Hiscox | The Hartford | |
|---|---|---|---|---|---|
| Per occurrence limit | $1,000,000 | $1,000,000 | $1,000,000/$2,000,000 | $300,000/$1,000,000 | $1,000,000/$2,000,000 |
| Aggregate limit | $2,000,000 | $1,000,000/$2,000,000 | $1,000,000/$2,000,000 | $300,000/$2,000,000 | $1,000,000/$2,000,000 |
| Products and completed operations aggregate limit | $2,000,000 | $1,000,000 | $1,000,000 | $1,000,000 | $1,000,000 |
| Advertising injury coverage aggregate limit | $1,000,000 | $1,000,000 | $1,000,000 | $1,000,000 | $1,000,000 |
| Tenant’s legal liability coverage limit | $100,000 | $100,000 | $5,000 | $100,000 | $1,000,000 |
| Waiver of subrogation included? | Yes | No | Included | Can be included | No |
| Hired/non-owned auto liability coverage included? | Yes | No | Excluded | Can be included | Can be included |
| Equipment breakdown floater included? | No | Yes | Yes | Can be included | Can be included |
| Can you get a certificate of insurance online? | Yes | Yes | Yes | Yes | Yes |
| Name additional insureds? | Yes | Yes | Yes | Yes | Yes |
| Deductible | $0 | $0 | $0 | $0 | $0 |
General liability insurance protects from third-party liability claims resulting from injuries and property damage. Policies will also often include protection from claims resulting from advertising injury. Some example situations include:
A customer trips and falls inside your office
While providing anesthesiologist services, you accidentally damage a customer’s property
You can customize your anesthesiologist policy further by adding more policies or endorsements to increase your overall coverage. Below are some options to consider.
Cyber liability–Protects your business against data security breaches, cyber-attacks, and other related liability claims
Additional insured–Protects additional parties that were not initially named on the policy
Tools and equipment insurance–Helps you repair or replace damaged and stolen tools and equipment you use in your practice
Your anesthesiologist coverage limit for general liability insurance will typically be $1 million per occurrence and $2 million in aggregate coverage. Aggregate coverage is the total coverage you will receive across multiple claims in the lifetime of your policy.
Your anesthesiologist liability insurance cost will be around $35 per month. The cost of your policy will depend on factors like your business's location, claims history, and any employees you have.
No, since general liability only provides third-party protection, you would need a different policy to protect your property. You should consider getting a business owner’s policy or commercial property policy.
| CoverWallet | NEXT | Thimble (Best) | Hiscox | The Hartford | |
|---|---|---|---|---|---|
| Per occurrence limit | $1,000,000 | $1,000,000 | $1,000,000/$2,000,000 | $1,000,000 | $1,000,000 |
| Aggregate limit | $2,000,000 | $2,000,000 | $1,000,000/$2,000,000 | $1,000,000 | $2,000,000 |
| Name additional insureds? | Yes | Yes | Yes | Yes | Yes |
| Waiver of subrogation included? | Yes | No | Yes | Can be included | No |
| HIPAA coverage included? | No | No | No | No | No |
| Sexual misconduct coverage included? | No | No | No | No | Can be included |
| License defense coverage included? | No | No | No | No | Can be included |
| Deductible | $500 | $500 | $500 | $50/$10,000 | $500 |
Anesthesiologist malpractice insurance is an important policy to protect you from patient liability claims due to negligence, failure to perform, abuse, and other types of malpractice. Some coverage examples include:
A patient dies from a mistake you made as an anesthesiologist
A procedure you made as an anesthesiologist led to a negative health outcome for a patient
The National Institutes of Health that most policies offer limits from $100,000 and $300,000 per occurrence to $1 million and $3 million in aggregate coverage.
Claims-made policies only provide coverage if you file a claim during your insurance policy period. Occurrence policies will cover an incident as long as it happens during your policy period, even if you can’t file a claim until your policy expires.
Professional indemnity insurance for anaesthesiologist is another term for malpractice insurance. The former is the most commonly used term for businesses and professions in the medical industry.
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| CoverWallet | NEXT (Best) | Thimble | The Hartford | Hiscox | |
|---|---|---|---|---|---|
| Building coverage limit (minimum) | $50,000 | $320,000 | $25,000/$500,000 | $75,000 | $25,000 |
| Contents coverage limit (minimum) | $50,000 | $35,000 | $25,000/$500,000 | $75,000 | $15,000 |
| Outdoor signs | Excluded | $2,500 | Excluded | Excluded | Included |
| Accounts receivable | Excluded | Excluded | $5,000/$10,000 | Excluded | Included |
| Money and securities | Excluded | $2,500 | $1,000 | Excluded | Included |
| Lock and keys | Excluded | $2,500 | Excluded | Excluded | Included |
| Business interruption floater | Excluded | Included | Included | Excluded | Included |
| Equipment breakdown floater | Excluded | Included | Excluded | Excluded | Included |
| Inland marine insurance floater | Excluded | Excluded | $10,000 | Excluded | Excluded |
| Employee dishonesty floater | Excluded | $5,000 | $2,500 | Excluded | Excluded |
Commercial property insurance is a policy that protects your anesthesiologist's business building and property from damage. Some situations to use this policy include:
A fire starts in your office that damages equipment you need to replace
One of the tools you use in your anesthesiologist practice gets stolen by a criminal who intends to resell it
Equipment breakdown insurance–Covers costs to replace or repair equipment that suffers a mechanical breakdown or another internal force breakdown
Earthquake insurance–Many policies will not cover earthquakes by default. Suppose you live in an area that has likely earthquakes. In that case, you will want to add this policy
Typically, your commercial property insurance policy for anesthesiologists will cover $50,000 in business property and $50,000 in property contained within the building.
No. Vehicles will require a separate policy to get protection. Commercial property insurance aims to cover your business building and property.
Before you sign up for a commercial property insurance policy, asses your business property. The coverage for your commercial property will depend on the value of office equipment, building, and other belongings.
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| CoverWallet | NEXT (Best) | Thimble | Hiscox | The Hartford | |
|---|---|---|---|---|---|
| General liability aggregate limit | $2,000,000 | $1,000,000/$2,000,000 | $1,000,000/$2,000,000 | $300,000/$2,000,000 | $1,000,000/$2,000,000 |
| Commercial property coverage limit | $50,000 | $320,000 | $25,000/$500,000 | $75,000 | $75,000 |
| Optional policies can be added? | Yes | Yes | Yes | Yes | Yes |
| Name additional insureds for free? | Yes | Yes | Yes | Yes | Yes |
| BOP discount? | Yes | Yes | Yes | Yes | Yes |
Anesthesiologist insurance coverage with a business owner’s policy has the benefits of both general liability and commercial property insurance. It will also often include business interruption insurance Some examples include:
A member of the public wanders into your office and slips, needing medical treatment for a neck injury
A vandal who breaks into your office damages one of your medical tools
Commercial crime–This protects your anesthesiologist business for employee acts of business like forgery, robbery, and cyber crimes
Employment practices liability–Protects you from employee claims of discrimination, wrongful termination, and other workplace practices
A business owner's policy has a general liability coverage between $1 and $2 million and property coverage between $15,000 and $50,000. You can purchase higher limits depending on the value of your property and how much you want to spend.
Your deductible will depend on the price of your policy and the insurer. Deductibles will range between $500 and $10,000 for the business owner's policy. Some insurance companies offer $0 deductibles for some coverage, which are generally more expensive.
| NEXT | Thimble | Hiscox | The Hartford | |
|---|---|---|---|---|
| Aggregate limit | $3,000/$10,000 | $2,500/$5,000 | $15,000/$25,000 | $5,000-$10,000 |
| Covers hired and borrowed equipment? | $3,000/$10,000 | $2,500/$5,000 | No | Yes |
| Miscellaneous equipment also covered? | $5,000/$10,000 | No | Yes | Yes |
| Offered as an endorsement to general liability insurance? | Yes | Yes | Yes | Yes |
| Deductible | $500 | $500 | $0 | $0 |
Anesthesiologists can use a tools and equipment insurance policy to protect their tools from damage, even when they are not on business property that they own. Some situations to use this coverage include:
You bring your anesthesiologist tools to a surgery theater to assist a patient with their operation, and they get stolen
A windstorm causes damage to your medical tools, and they need to be replaced
Inland marine coverage–Protects your tools if you need to store them away from your office or while transported to a different location
Equipment breakdown–Helps you cover the costs of your tools and equipment when they break down from internal causes. Covered events include electronic failure, a power surge, or a mechanical breakdown
Anesthesiologists can typically get tools and equipment coverage with a limit between $5,000 and $10,000. Higher limits are available depending on the insurer.
You will not receive coverage if your tools and equipment breakdown from normal wear and tear. Moreover, the intentional destruction of your tools will often not be covered.
Workers’ compensation insurance is a policy that pays your employees when they get sick or injured from regular business duties. This may automatically include employer liability protection that protects you from employee lawsuits. Some situations to use this coverage are listed below.
One of your employees injures their leg moving a piece of equipment and needs medical treatment
An employee develops a chronic back condition resulting from their work duties that limit their ability to work
Anesthesiologist disability insurance reimburses lost income to workers who cannot work due to a disability. Unlike workers comp, coverage applies whether or not the disability is due to a work-related accident.
Although employees are not responsible for paying for the policy, they are responsible for reporting the injury to a supervisor or employer as soon as possible. If an employee does not report soon enough, they may not be able to receive coverage promptly. Another reason an employee will not want to wait is because they want to receive medical treatment as soon as possible to prevent them from worsening.
Excess liability insurance can upgrade one of your anesthesiologist's policies with a higher coverage limit. It is a helpful policy because you can increase your coverage limit without having to buy a new policy if you run out of coverage.
Excess liability policies help you get additional coverage if liability becomes unexpectedly expensive. You should know the potential cost of lawsuits and injury, as they could quickly bankrupt your business.
| Cost per Month | Cost per Year | Deductible | |
|---|---|---|---|
| General liability insurance | $35 | $420 | $0-$500 |
| Malpractice insurance | $65 | $780 | $500-$1,000 |
| Excess liability insurance | $41 | $492 | $500-$1,000 |
| Commercial property insurance | $50 | $600 | $1,000-$2,000 |
| Business owner’s policy | $78 | $936 | $1,500 |
| Commercial auto insurance | $70 | $840 | $500-$1,000 |
| Tools and equipment insurance | $39 | $468 | $500-$1,000 |
| Workers compensation insurance | $100 | $1,200 | $2,000-$5,000 |
The average anesthesiologist insurance cost per month is $35 for a $1 million general liability policy. This translates to $420 per year. Here’s a table of further anesthesiologist insurance cost figures based on the price of a $1 million general liability policy from the best companies:
| Cost per Month | Cost per Year | Best for | |
|---|---|---|---|
| NEXT | $15 | $180 | Best overall; Fastest general liability insurance for anesthesiologists |
| The Hartford | $19 | $228 | Medical property insurance for anesthesiologists |
| CoverWallet | $21 | $252 | Comparing anesthesiologist insurance quotes online |
| Tivly | $24 | $288 | Comparing anesthesiologist insurance quotes over the phone |
| Thimble | $27 | $324 | On-demand coverage for anesthesiologists |
| Hiscox | $30 | $360 | Customized anesthesiologist policy |
The average anesthesiologist malpractice insurance cost is $65 per month. This assumes that you only want $1 million worth of coverage. On the other hand, the anesthesiologist malpractice insurance cost per year is $780. Consider doing these to reduce your overall anesthesiologist medical malpractice insurance cost:
Having high deductibles
Removing unnecessary add-ons
Availing malpractice insurance as an add-on to general liability insurance
Claims history, business history, policy limits, deductibles, location, and risk management programs in place are factors that affect anesthesiology malpractice insurance rates.
Get all the best quotes from leading providers in a click of a button!
The following section covers our reviews of the top providers of anesthesiologist insurance policies. Each has something unique to the table, and you want to remember their strengths, weaknesses, and rate for a $1 million general liability coverage.
Best overall
Issues an online proof of insurance instantly
Fastest general liability insurance for anesthesiologists
Great customer service and reputation
Excellent rates
Outstanding value for money
Get a 10% discount if you buy two or more policies
Couldn’t find any
NEXT is an online-focused insurance company that delivers policies an anesthesiologist would want for their insurance policies. They have general liability, tools & equipment, workers comp, and many others. NEXT is certified with the Better Business Bureau and has an A-(Excellent) AM Best rating. NEXT offers the cheapest anesthesiologist liability insurance cost on our list since customers can get a 10% discount for bundling two or more policies.
Best for: Best overall; Fastest general liability insurance for anesthesiologists
Average cost: $15 per month
Our rating: 10/10
Serves over one million small businesses
Longterm financial rating of A- from AM Best
Renowned company for workers compensation insurance
Limited add-ons to general liability insurance
The Hartford offers unique policies like medical property that protects against weather damage, power outages, hazardous materials, and criminal break-ins. They also have essential policies for anesthesiologists to pick from, like business owner’s policy, general liability, and workers' compensation.
Best for: Medical property insurance for anesthesiologists
Average cost: $19 per month
Our rating: 10/10
Compare quotes online
HNOA coverage automatically included in general liability insurance
Easy online policy management
Not an insurance company but an insurance broker
CoverWallet is your digital marketplace for tracking and buying necessary insurance policies. Anesthesiologists can choose from equipment breakdown, workers comp, and general liability policies. CoverWallet has an A+ rating from the Better Business Bureau.
Best for: Comparing anesthesiologist insurance quotes online
Average cost: $21 per month
Our rating: 10/10
Compare quotes over the phone
Responsive customer service
A partner of many reputable insurance companes
Not completely online
Tivly has an incredible selection of over 200 partners to draw your policy options from. Their workers' compensation insurance options help protect your employees, and they offer free business insurance quotes that are quickly dispersed. The company is fast-growing and excels at matching businesses with its insurance partners. Call now to compare quotes over the phone.
Best for: Comparing anesthesiologist insurance quotes over the phone
Average cost: $24 per month
Our rating: 10/10
Offers short-term general liability insurance
Easy to buy your anesthesiologist policy
You can pause your coverage
Numerous add-ons to general liability insurance
You can’t reach customer service by calling
Thimble is perhaps the most flexible option from the top insurers of anesthesiologists. They allow you to customize your policy timeframe and even pause coverage easily when needed. Quotes and policies are available online for business owners policy, general liability, and commercial property insurance. The company also offers add-ons like inland marine insurance. This company has an impressive A+ rating with the Better Business Bureau.
Best for: On-demand coverage for anesthesiologists
Average cost: $27 per month
Our rating: 10/10
Excellent medical malpractice insurance partner
14-day money-back guarantee
Worldwide coverage
Automatic policy renewal
Online quoting might not be available all the time due to periodic site maintenance
Hiscox allows the customization of anesthesiologist policies. They work with you to get a truly unique and tailored policy that fits your business needs. They have an A rating from AM Best and operate in 14 countries. If you are a small business, you can benefit from an extra discount. You enjoy this by bundling two or more policies.
Best for: Customized anesthesiologist policy
Average cost: $30 per month
Our rating: 10/10
1 / 5
Use anyone except Employers. Period. They are non-transparent and shameful. After I complained long enough to warrant a call from a supervisor, the supervisor called back from a PRIVATE NUMBER (no caller ID), left a message that they are not reversing their decision (without any communication with me), and failed to leave a phone number for me to call back. She was hiding! They also fact find via email and phone calls, which is terrific for speed and communication. However, after setting a precedence of email or phone calls, they send time sensitive information via email, without any heads up... they are hoping you miss it and forfeit via expiration. Evil policies. Go elsewhere.
1 / 5
This place is an absolute joke of a company and should be ashamed of the way they conduct business. I was hurt on the job at the end of July and it took them just shy of 7 weeks to issue out a paycheck to me. Yes the amount was back dated but still. Not many have the luxury of not receiving a paycheck for almost 2 months. To top it all off, the original adjuster marked me down for the wrong state which caused a problem from the get go, I've had 3 different adjusters now since each one can't seem to figure out the simplicity of my claim. All my paperwork which includes, my job, house, and drs visits all are from the same state and city but yet some how I have been filed under a completely different state 1500 miles away. They do not answer your phone calls or emails no matter how many you leave. I've had to escalate my frustrations to the supervisors of each of these individuals in order to even get some kind of response. I've had more communication and information given to me about my claim from the customer service representatives then the actual adjusters.......... please tell me how that works?! A serious overhaul needs to happen here in order to serve your clients the way they deserve to be taken care of. 10/10 do not recommend this company to a single soul on earth
1 / 5
I have never had the displeasure of working with a more incompetent and disrespectful person in my life. I’m an injured worker and the adjuster that was assigned to my case was named Carrie Furgeson. In the past 6 weeks that I’ve been injured and out of work I have only been able to get ahold of her twice, not for lack of trying. I have left countless voicemails, countless emails, and she ignores them all. When I am finally able to get ahold of her I’m greeted with terrible customer service. She is rude, she talks over me and I’m hardly able to get a word in edgewise. She spelled my name wrong on my documents even after I spelled it for her properly countless times, this caused a whole new issue with my bank. I have bill collectors from the hospital calling me demanding payment and Carrie Furgeson won’t do a single thing to help, or to get them paid. All of my documentation is in Colorado, my job is in Colorado, my address is in Colorado, all my Dr offices and appointments have been in Colorado and Carrie still managed to hold my claim because she wasn’t sure what state she needed to file it under. It’s been 6 weeks since my Injury and my company still hasn’t received the wage paperwork to fill out so they can get me my correct wages. When she’s not ignoring me she’s answering my questions with “I don’t know” well I don’t know how she got this job, because apparently she doesn’t know anything about it. She is a disgusting morose individual inside and out and I genuinely wish her the worst in all of her future endeavors. I highly recommend you don’t use this company. Please if you are a business owner and your looking into this company please don’t use them. I’m sure they have the cheapest payment and that’s why companies use them in the first place, but you will be doing your employees a grave disservice by forcing them to venture into this absolute dumpster fire of a company. I would rate 0/5 if possible but 1 was the lowest I was allowed.
5 / 5
Their general liability insurance purchase process is simply the best online experience I've ever had in my life!
5 / 5
As long as they cover your line of business, you're literally covered! best rates, best coverage, best online experience, best professionals, can't be happier that I chose them!
Not all those who wander are lost.
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