Preparing for Private Practice: The Insurance Checklist Every Doctor Needs before Going Solo

- By Team Policy Era

Going Solo? Don't Go Uninsured

1. Professional Indemnity Insurance – Your First Line Of Defence

Even the most experienced doctors can face allegations of negligence, misdiagnosis, or treatment errors. These cases can result in years of litigation, loss of reputation, and heavy compensation payouts.

Why it matters:

• Protects against claims of malpractice, negligence, and breach of duty.
• Covers legal defence costs and awarded damages.
• Required by many medical councils and institutions in India.

What to look for:

• Choose a policy with an adequate sum insured depending on your specialty.
• Ensure it covers retroactive dates, so past consultations are protected.
• Check for coverage of both civil and criminal defence.

Keyword integration: This is the cornerstone of any in-depth guide on doctor-specific risk management and one of the key steps toward achieving full doctor safety.

2. Personal Health Insurance – Don’t Rely Only On Group Policies

While some clinics and hospitals offer group health cover, these are often temporary and non-portable. As a private practitioner, your health plan should be robust, independent, and customisable.

Why it matters:

• Healthcare costs are rising, especially for specialist treatments and private hospitals.
• A personal health plan provides coverage irrespective of your employment status.
• You can include your spouse, children, and dependent parents.

What to look for:

• Opt for comprehensive health insurance plans that include pre and post-hospitalisation.
• Consider top-ups and critical illness add-ons.
• If planning for a family, look at family health insurance options with maternity benefits.

3. Accident Insurance – Because Emergencies Don’t Announce Themselves

Accidental injuries can derail your career temporarily or permanently. Whether it’s a road mishap or a clinic-related injury, accident insurance ensures your income and recovery are protected.

Why it matters:

• Offers financial support during temporary or permanent disability.
• Pays for emergency hospitalisation and rehabilitation.
• Some policies offer income replacement in case of loss of practice.

What to look for:

• Ensure your accident cover policy includes both accidental death and disability benefits.
• Choose a plan that provides weekly income in case of partial disability.

4. Critical Illness Insurance – Protection Beyond Hospital Bills

While your health insurance may cover treatment, a critical illness policy offers a lump sum payout on diagnosis. This helps you manage lifestyle changes, non-medical expenses, and income loss.

Why it matters:

• Critical illness policies cover cancer, heart disease, stroke, kidney failure, etc.
• A lump sum payout helps when long recovery periods stop you from working.

What to look for:

• Look into critical care insurance that has a short waiting period and wide coverage.
• Make sure it complements, not duplicates, your base health policy.

5. Asset And Equipment Insurance – Safeguard Your Clinic Setup

Your clinic is not just a place of work, but a business asset. Equipment, interiors, medical devices, and even patient records need protection against damage, theft, or natural disasters.

Why it matters:

• Fire, floods, or burglary can wipe out your investments overnight.
• Data loss due to damage can lead to medico-legal complications.

What to look for:

• Ensure your policy includes electronic equipment coverage, furniture, and fixtures.
• Cybersecurity add-ons are useful to protect patient data and records.

6. Life Insurance – Think About Your Family’s Security

Running a solo practice also means financial responsibilities. If something happens to you, a term life plan ensures your family and dependents are not left with liabilities.

Why it matters:

• Ensures family gets a lump sum in case of untimely demise.
• Can cover personal loans or business liabilities tied to your clinic.

What to look for:

• Choose pure term insurance for high coverage at a low cost.
• Avoid mixing investment and protection.

7. Cyber Liability Insurance – A Growing Need For Clinics

With digitised medical records, online consultations, and e-payments, doctors are increasingly exposed to data breaches and cyberattacks. A leak of patient data can result in legal action and damage to trust.

Why it matters:

• Protects against legal claims arising from data theft.
• Covers costs of restoring digital systems and notifying affected parties.

What to look for:

• Must cover ransomware, unauthorised access, and data restoration.
• Useful for doctors offering telemedicine or using online platforms.

8. Gety Expert Help – Policy Era Has You Covered

With multiple types of insurance available, the process can feel overwhelming. This is where Policy Era steps in. As specialists in insurance for healthcare professionals, Policy Era:

• Helps you find doctor-specific plans at the best price.
• Explains coverage in plain language.
• Offers lifetime support in case of claims or policy updates.

Whether you need help choosing a medico-legal insurance policy, health cover, or asset protection, Policy Era ensures you’re not just insured, but secured.

*NOTE*
The names and cases used in this blog are fictional and intended for illustrative purposes only. They do not represent real individuals and are used to maintain confidentiality.