Cardiologist Insurance: Cost & Quotes From $28/mo

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Cardiologists are the physical therapists that diagnose and treat heart conditions. Have customized cardiologist insurance that addresses the unique nature of your practice.  As a heart specialist, you are at a higher risk of encountering lawsuits than other medical practitioners. 

65% of cardiologists have been a victim of malpractice lawsuits. A lawsuit can have financial consequences for your practice. You may pay over $2 million as a settlement. To safeguard yourself from such adversities, ensure you have cardiologist insurance.

This article discusses some of the integral insurance policies you should have for your practice. We have also analyzed the coverage limits, insurance costs, add-ons, and companies from which you can purchase a policy.

General Liability Insurance for Cardiologists

CoverWallet  NEXT (Best) Thimble Hiscox The Hartford
Per occurrence limit  $1,000,000 $1,000,000 $1,000,000/$2,000,000 $2,000,000 $1,000,000/$2,000,000
Aggregate limit  $2,000,000 $2,000,000 $1,000,000/$2,000,000 $2,000,000 $1,000,000/$2,000,000
Products and completed operations aggregate limit  $2,000,000 $1,000,000 $2,000,000 $1,000,000 $1,000,000
Advertising injury coverage aggregate limit  $1,000,000 $1,000,000 $2,000,000 $1,000,000 $1,000,000
Tenant’s legal liability coverage limit  $300,000/$1,000,000 $300,000 $100,000 $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 No 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 is a crucial coverage that will safeguard you against any claims from third parties. The claims can arise from property damage, accidents, or injuries when you are offering your cardiology services.


What Incidents Can General Liability Insurance for Cardiologists Cover?

  • Bodily injury–A patient can sustain injuries in your clinic. For instance, they can slip or trip and sustain hand injuries. This insurance will pay medical and legal costs

  • Property damage–A patient’s property, such as a phone or laptop, can get damaged when you are performing a procedure. This policy will pay for the replacement or repair costs

  • Advertising injury–When promoting your cardiology services, competitors or customers may accuse you of slander, libel, and copyright infringement. General liability insurance will cover the legal costs incurred when defending against these claims

  • Personal injury–A patient can accuse you of invasion of privacy or defamation. Your insurance will cover the expenses associated with those claims

Add-Ons to General Liability Insurance for Cardiologists

  • Cardiologist malpractice insurance–As a cardiologist, you offer professional services to patients. Errors, omissions, and negligence can lead to medical harm to your patients. This add-on will cover settlements, defense, and judgment costs

  • Cyber liability insurance–Cardiologists’ practices rely on digital systems to store patients’ health records. Thus, you face the risk of cyber attacks. This add-on will cover the costs of claims related to information leakage

Coverage Limits for General Liability Insurance for Cardiologists

The coverage limits for general liability insurance depend on the size of your practice and the number of patients you deal with. Typically, an insurance carrier will offer you a limit of $1 million for each occurrence and $3 million as the aggregate limit.


Is General Liability Insurance Coverage Enough for My Practice?

General liability insurance coverage is fundamental for your practice but not enough. You need additional coverage to insure your commercial vehicles, buildings, inventory, equipment, and employees.


Malpractice Insurance for Cardiologists  

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


Cardiologist malpractice insurance is a critical coverage option for cardiologists. This insurance typically covers alleged or committed omissions, negligence, or errors when offering medical services.


Incidents That Malpractice Insurance Covers

  • You can make a misdiagnosis which may result in the wrong treatment approach and harm to your patient

  • A surgical error can lead to heart complications or injuries

  • You can prescribe the wrong medication or dosage to your patients, which may lead to harm or adverse effects to patients

Add-Ons to Malpractice Insurance for Cardiologists

  • Tail coverage–This add-on will offer protection for claims made even after your standard malpractice insurance policy expires. This will ensure you have adequate coverage even for incidents when your insurance policy is inactive

  • Regulatory and licensing defense coverage–This add-on will safeguard you if you face disciplinary actions by licensing boards. It will cover all the costs of defending those allegations

Coverage Limits for Malpractice Insurance for Cardiologists

Your risk profile and the size of your practice will highly determine the coverage limit of malpractice insurance for cardiologist. But generally, a provider will offer you $1 million to $5 million for each occurrence. For the aggregate limit, you can get $3 million to $10 million.


Is Malpractice Insurance for Cardiologists Compulsory?

Most states do not put cardiologist malpractice insurance as a compulsory obligation. But you must check local regulations and contractual obligations to ensure you meet the requirements. Additionally, ensure you discuss this with your licensing board for more information.

Compare Cheap Cardiologist Insurance Quotes Online

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Commercial Property Insurance for Cardiologists 

CoverWallet NEXT (Best) Thimble Hiscox The Hartford
Building coverage limit (minimum) $50,000 $260,000 $25,000/$500,000 $25,000 $60,000
Contents coverage limit (minimum) $50,000 $22,000 $25,000/$500,000 $25,000 $60,000
Outdoor signs Excluded $2,500 Excluded Excluded Excluded
Accounts receivable  Excluded Excluded $5,000/10,000 Included Excluded
Money and securities Excluded $2,500 $1,000 Included Excluded
Lock and keys  Excluded $2,500 Excluded Excluded Excluded
Business interruption floater Excluded Included Included Included Excluded
Equipment breakdown floater Excluded Included Excluded Excluded Excluded
Inland marine insurance floater Excluded Excluded $10,000 Excluded Excluded
Employee dishonesty floater Excluded $5,000 $2,500 Included Excluded


Commercial property insurance insures your cardiology clinic’s physical assets. It covers your office space, furniture, inventory, and equipment. This policy will pay for repairing, rebuilding, or replacement costs. These events include natural disasters, fires, theft, vandalism, or building collapse. Some of the fundamental aspects of commercial property insurance include the following:

  • Building coverage–This component will cover your physical structure, such as the office building. It will also protect your permanent fixtures

  • Business personal property coverage–Covers tangible assets such as furniture, equipment, and other supplies

  • Business interruption coverage–If you close down your cardiology practice as a result of covered events such as fire, this policy will cover incurred expenses and lost income during the closure period

Add-Ons to Commercial Property Insurance for Cardiologists

  • Valuable papers and records coverage–This add-on will cover essential documents such as patient files, documents, and medical records

  • Outdoor signs coverage–If your cardiology practice has outdoor signage, this add-on will protect against any damages due to theft, vandalism, or natural disasters

Coverage Limits for Commercial Property Insurance for Cardiologists

The value of your buildings and inventory will determine the limits a provider will offer. In most cases, you can get coverage of $10,000 to $5 million depending on the nature of damages suffered


How Does Your Insurance Provider Determine the Coverage Limits?

The insurance company will ask for an estimated value of all your business assets to come up with an appropriate commercial property coverage limit. 


Are There Any Exceptions to Your Commercial Property Insurance?

Yes, most providers have certain exceptions. For instance, intentional acts, acts of war, or criminal activities may not be covered. You need to review the terms of your policy so that you can identify the available exclusions.


 An image of a cardiologist doing a test to a patient.


Business Owner’s Policy for Cardiologists

CoverWallet Thimble (Best) NEXT  Hiscox The Hartford
General liability aggregate limit  $2,000,000 $2,000,000 $2,000,000 $300,000 $1,000,000/$2,000,000
Commercial property coverage limit  $50,000 $500,000 $260,000 $25,000 $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


A business owner’s policy (BOP) will offer your cardiology practice comprehensive cover. This policy merges two or more standalone policies into a single policy. Combining them provides you with convenience and cost-effective options. A BOP combines:

  • Commercial property insurance

  • General liability insurance

  •  Business interruption insurance

Add-Ons to BOP for Cardiologists

  • Employment practices liability insurance–This add-on covers any claims related to employment practices such as discrimination or harassment

  • Workers compensation insurance–Occupational-related illnesses and accidents are typical in cardiology. It would be best if you protect your employees from such events

Coverage Limits for BOP for Cardiologists

For property coverage, you will get a $250,000 to $1 million limit. On the other hand, you can get $1 million to $2 million for general liability coverage.


Tools and Equipment Insurance for Cardiologists

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


Tools and equipment insurance covers the medical instruments and equipment you use in your cardiology practice. It will compensate you for the replacement and repair costs of your items. Some of the covered perils include:

  • Fire

  • Vandalism

  • Theft

  • Storms

  •  Accidents

  • Natural disasters

What Are the Common Add-Ons to Tools and Equipment Insurance for Cardiologists?

  • Transit coverage–This add-on will cover your tools and equipment while being transported to off-site working stations

What Are the Coverage Limits of Tools and Equipment Insurance for Cardiologists?

The coverage limit will depend on the insurance policy’s terms and the value of your items. But most providers will offer a range of $250,000 to $1 million.


Workers Compensation Insurance for Cardiologists  

Your employees may be exposed to occupational illnesses and injuries due to the nature of their jobs. Insure your employees against these and purchase workers compensation insurance. This insurance will cover the following:

  •  Medical costs

  • Lost wages

  • Rehabilitation costs

  • Disability benefits

  • Death benefits

Coverage Limits for Workers’ Compensation Insurance for the Cardiologist

When determining the coverage limit of workers compensation cardiologist, many factors must be considered. For instance, an employer must meet statutory obligations for this policy. The typical coverage limit for lost income is 60-75% of the employee’s earnings before the illness or injury.


Is Worker’s Compensation Insurance for Cardiologists Compulsory?

This depends on your specific jurisdiction. But in many states, all employers must have this type of policy.


Excess Liability Insurance for Cardiologists

If you feel your underlying insurance coverage is insufficient, you can purchase excess liability insurance. This policy will offer supplementary coverage on top of your standard policies. It will offer added financial protection if a major claim or lawsuit surpasses the limits of your primary policies.


What Are the Coverage Limits of Excess Liability Insurance for Cardiologists

Your insurer will determine the coverage limit depending on the agreed policy terms. But generally, the limits can be $1 million to $10 million.

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Cardiologist Insurance Cost

Cost per Month Cost per Year Deductible
General liability insurance $38 $456 $0-$500
Malpractice insurance $50 $600 $500-$1,000
Excess liability insurance $49 $588 $500-$1,000
Commercial property insurance $70 $840 $1,000-$2,000
Business owner’s policy $67 $804 $1,500
Tools and equipment insurance $90 $1,080 $500-$1,000
Workers compensation insurance $102 $1,224 $2,000-$5,000


General liability insurance for cardiologists is $38 per month or $456 per year for a $1 million worth of coverage. On the other hand, the average cardiologist malpractice insurance cost is $50 per month or $600 per year. Factors that affect premiums are claims history, business history, policy limits, deductibles, annual revenue, location, and number of employees. Here’s a table showing the cost of a $1 million general liability insurance from the best cardiologist insurance companies:

Cost per Month Cost per Year Best for
NEXT $24 $288 Best overall; Fastest general liability for cardiologists
The Hartford $26 $312 Comparing cardiologist insurance quotes onlin
CoverWallet $27 $324 Cardiologists that need comprehensive coverage for their practice
Tivly $29 $348 Comparing cardiologist insurance quotes over the phone
Thimble $31 $372 On-demand coverage for cardiologists
Hiscox $33 $396 Cardiologist insurance with automatic renewal

Compare Cheap Cardiologist Insurance Quotes Online

Get all the best quotes from leading providers in a click of a button!

Best Cardiologist Insurance Companies

Here is a list of companies you should consider working with. They offer incredible deals for their cardiologist insurance. Read some of the reviews below to know their pros, cons, and average rate for a $1 million general liability insurance.


NEXT Cardiologist Insurance

Pros

  • Best overall

  • Issues an online proof of insurance instantly

  • Fastest general liability insurance for cardiologists

  • Great customer service and reputation

  • Excellent rates

  • Outstanding value for money

  • Get a 10% discount if you buy two or more policies 

Cons

  • Couldn’t find any

NEXT is an online insurance company that was founded in 2015. They have heavily invested in the digital platform and use AI to process insurance quotes and process claims. The experience of this company is unquestionable, as it has underwritten more than 300,000 policies. They offer multiple insurance products such as general liability insurance, malpractice insurance for cardiologist, BOP, among others,

Best for: Best overall; Fastest general liability for cardiologists

Average cost: $24 per month

Our rating: 10/10

 

CoverWallet Cardiologist Insurance

Pros

  • They offer several insurance products from various providers

  • You can get a chance to compare rates from multiple providers

  • They provide cost-effective insurance products for your cardiology practice

Cons

  • Does not offer policies directly but relies on third parties

CoverWallet is an insurance brokerage firm with a good reputation. They have partnered with well-known insurance providers to allow you to get the best deals. On their platform, you can compare costs provided by different providers. You also get access to multiple insurance products, such as workers’ compensation, general liability, and commercial auto insurance.

Best for: Comparing cardiologist insurance quotes online

Average cost: $26 per month

Our rating: 10/10


The Hartford Cardiologist Insurance

Pros

  • They offer comprehensive insurance packages for cardiologists

  • You can get assistance from their friendly customer service team

  •  If you are an AARP member, you will enjoy additional insurance benefits

Cons

  • They highly specialize in offering the best deals for AARP members and thus may have few benefits for non-members

The Hartford stands out in the market due to its experience and excellent reputation. This company has been operational for more than a century. Initially, they specialized in fire insurance, but they have diversified and are also offering insurance products for cardiologists.

Best for: Cardiologists that need comprehensive coverage for their practice

Average cost: $27 per month

Our rating10/10


Tivly Cardiologist Insurance

Pros

  • You can compare different insurance quotes from other providers

  •  It Is an insurance marketplace that will offer you cost-effective insurance products

  • You can easily customize your policies to meet the unique needs of your cardiology practice

Cons

  • Their online website does not have a live chat

Tivly is an approved insurance marketplace. Here you get to review deals from different insurance providers and pick the one that meets your budget and the needs of your cardiology practice. They offer multiple insurance products, such as tools and equipment, general liability, commercial auto, and cyber liability coverage. Call now to compare quotes over the phone. 

Best for: Comparing cardiologist insurance quotes over the phone

Average cost: $29 per month

Our rating: 9/10


Thimble Cardiologist Insurance

Pros

  • You can find event-based insurance products for your cardiology practice

  • Numerous add-ons to general liability insurance

  • Quickly issues an estimate of your rates

Cons

  • You can only get assistance online

Thimble started as a drone insurance specialist. However, the demand for their insurance products skyrocketed, warranting them to include other types of businesses, including cardiology practices. They offer event-based coverage.

Best for: On-demand coverage for cardiologists

Average cost: $31 per month

Our rating: 9/10


Hiscox Cardiologist Insurance

Pros

  • It has a user-friendly website where you can obtain online quotes and purchase policies conveniently

  • This company has an outstanding reputation for offering insurance products to businesses

  • You can customize the insurance products to suit your unique risks

Cons

  • Online quoting not available all the time due to periodic site maintenance

Hiscox is an insurance provider that was started in 1901. This company is a leading provider of multiple insurance products for small and large businesses. They provide property, professional, and cyber liability insurance, among others.

Best for: Cardiologist insurance with automatic renewal 

Average cost: $33 per month

Our rating: 9/10

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