Audiologist Insurance Ontario 

Protect Yourself With The Audiologist Insurance Ontario Can Count On! 

If you are a medical practitioner who specializes in addressing hearing problems or balance loss, you need reliable audiologist insurance from the professionals at Morison Insurance. Our team of expert insurance brokers wants you to have the medical practice coverage you need to continue treating and resolving the hearing and balance needs of your patients. We’ll discuss your practice details and insurance needs with you, sort through policies from trusted Canadian insurance providers, and provide you with comprehensive audiologist insurance options for you to choose from.  

We’ll be with you throughout every step of your insurance journey, from the initial consultation appointment to signing off on your policy to mid-policy term quests to renewal time. Let your Morison Insurance broker focus on getting you the right audiologist insurance coverage so you can do what you do best without worrying about financial setbacks. 

What Is Audiologist Insurance? 

Also known as audiologist liability insurance, audiologist insurance is business insurance designed specifically for healthcare professionals in the hearing and balance loss field. Ultimately, it aims to provide you with financial protection in the face of professional liability claims of negligence, errors, or mistakes that result in harm to their patients or another third party. Audiologist insurance also offers you property coverage so you’re able to get compensation for repair, replacement and restoration costs if your commercial space, equipment and more is damaged or lost due to a peril such as fire or theft. 

Who Needs Audiologist Insurance? 

In Ontario, audiologist insurance is required for any healthcare professional involved with the diagnosis, assessment, treatment, and prevention of hearing loss and balance disorders. This includes: 

• All regulated audiologists on the General Register 
• Audiologists on the Courtesy Register who provide services directly to the public 
• Audiologists working in private practice, clinics, or healthcare facilities 
• Healthcare providers who do hearing aid replacements, conduct hearing tests, or other audiology services 
• Full-time and part-time audiologists 
• Employed and self-employed audiologists 

Even if you work for someone, you will need your own audiologist insurance coverage in Ontario rather than relying on your employer’s insurance coverage. No matter how confident you are in your skills as a medical practitioner, the simple fact is, mistakes happen, and having some form of medical liability insurance, such as audiologist insurance, can protect you from crippling costs involved with any legal expenses, medical bills, or other losses and damages associated with it. 

With audiologist insurance, Ontario hearing and balance medical professionals get the financial protection of a medical liability insurance policy that is specifically designed for those in the audiology field. Talk to your Morison Insurance broker about how audiologist insurance can benefit you. 

What Is Covered Under Audiologist Insurance? 

Ontario insurance policies, even specialized ones such as audiologist insurance, do not have one-size-fits-all policy wordings, and the needs of one audiologist can greatly differ from the needs of another professional. Because of this, you will need to have a thorough discussion with your licensed broker about what you need covered under your audiologist insurance policy.  

That said, there are a number of insurance inclusions that can be commonly found in most audiologist insurance policies. These include: 

Professional Liability Insurance 

Professional liability insurance, also known as medical malpractice insurance for those working in the healthcare field, is for those who provide professional advice or services, or advocate for others. As a medical professional, you are often responsible for providing advice on health issues and treatment for maintaining or improving one’s health, and if you provide bad advice and your recommended treatment causes injury, or you fail to diagnose a medical condition that led to some degree of hearing loss or hearing impairment, your patient or a party on behalf of your patient can sue you. 

Having professional liability insurance coverage in your audiologist insurance would cover your legal expenses in the event of such medical malpractice suits, and cover any legal and medical costs if you are found liable for the injury. This can help you keep operating as normal without the fear of a potential lawsuit for negligence or a frivolous claim driving you into bankruptcy. 

Commercial General Liability Insurance 

Any working professional is exposed to a number of liability risks throughout their working days, and commercial general liability insurance is meant to cover any claims for bodily injury or property damage caused to third parties from an incident on your premises, operations, products, and completed operations. 

For instance, let’s say a patient slips and falls on a wet floor in your clinic’s office waiting room and injures themselves. They could sue you for the injuries they incurred on your medical practice’s property. With commercial general liability coverage as part of audiologist insurance, Ontario audiologists are covered for the legal expenses, administration costs, and settlement claims associated with the incident. 

Equipment Breakdown Insurance 

Any doctor’s office likely has a lot of equipment that is crucial to its continued operations, and should a crucial piece of medical equipment break down or malfunction, you may not be able to treat your patients as you wait for repairs or a replacement to arrive. Additionally, some medical equipment can be quite costly, and you may not have the funds on hand to fix or replace it, impacting the level of care you provide. But if your audiologist insurance includes equipment breakdown coverage, you’ll have the funds you need to replace it, ensuring you can continue to provide a high level of care for your patients. 

Commercial Property Insurance 

Medical practices tend to require a physical location for patients to visit for examinations and treatments. Even if you specialize in making house calls, you will need a physical location to store your equipment, medical supplies, and client information. Should anything happen to your practice location, your ability to provide care or health care services will be greatly diminished. 

This is why most audiologist insurance policies include commercial property insurance coverage. Should an insured peril, such as a fire burning down your clinic or a water pipe in your clinic burst causing property damage, commercial property insurance would provide you with the financial compensation you need to rebuild or repair the damages so you can get back to providing hearing and balance services once more. Whether it’s property coverage for your doctor’s office or a commercial space to store medical equipment, your insurance broker will help you get the commercial property insurance you need. 

Commercial Cyber Liability Insurance 

Most medical practices have some form of online presence, and all are responsible for storing sensitive client information such as names, contact information, personal health insurance, treatments, and date of birth. In the event of a cyber hack, cyber breach, theft of a computer, or even a ransomware attack, the safe storage of that confidential information may be compromised, opening you up to liability claims from patients for failing to safeguard their information. 

With commercial cyber liability insurance included in their audiologist insurance policy, Ontario audiologists will have the needed legal expense coverage for contacting the affected parties to notify them of the cyber breach, legal costs arising from liability claims, legal regulatory expenses, restoring any systems harmed or data lost in the cyber attack, credit monitoring, and any loss of income resulting from system outage following the cyber attack. 

How Much Will My Ontario Audiologist Insurance Policy Cost? 

The cost of your insurance rate or insurance premiums will depend on a wide range of factors that go into calculating costs for audiologist insurance.  

Some factors that go into calculating your audiologist insurance costs include: 

• Geographical location of the practice 
• Type of risks associated with the audiology practice 
• Number of employees 
• Types of services provided 
• Training, certifications, and qualifications of medical practitioners 
• Membership in professional associations 
• Years of experience 
• Annual revenue 
• Coverage limits 
• Types of coverage needed 
• Insurance claims history 

Once all the factors have been taken into consideration, you may have a very different cost for your audiologist insurance compared to the hearing centre down the street. Make sure you discuss your practice’s needs and insurance requirements with your insurance broker to get the best possible price for your audiologist insurance. 

How Does My Equipment Impact My Rate For Audiologist Insurance? 

Ontario doctor’s offices and medical practices have a lot of specialized medical equipment that allows them to diagnose and treat their patients. However, a lot of medical equipment also happens to be very expensive, and if it is damaged or stolen, it will cost hundreds of thousands of dollars to replace. As a lot of audiologist professionals don’t have that kind of money lying around, it’s necessary to make sure equipment is properly covered by audiologist insurance. 

Additionally, no matter how well-maintained your equipment is, there is a certain level of risk associated with potential equipment malfunctions or if it doesn’t perform as needed. Whether it’s a piece of more common-place equipment like an audiometer, or assessing equipment such as otoacoustic emission (OAE) analyzers and auditory brain stem response (ABR) systems, or hearing aid model programming and assistive device fitting systems, having this equipment at your hearing clinic opens you up to a certain level of risk that will need to be covered by your audiologist insurance. The more medical equipment you have on hand, the more coverage you will need. 

Where Can I Get Audiologist Insurance?

When it comes to audiologist insurance, Ontario audiologists should receive options from the best and contact the expert brokers at Morison Insurance. We’ll do the leg work for you, getting the right insurance protection you need so you can focus on your patients. 

Give us a call today at 1-800-463-8074, or fill out the online form to get started on getting your ideal coverage for audiologist insurance in Ontario!