What does vet practice insurance provide?

James Pearce, Head of Commercial Development at Lloyd & Whyte explains; “Many practice owners are unclear as to what it covers and why it is important to get a bespoke policy, specifically tailored to the veterinary sector.

The Practice insurance that we can offer is tuned to the needs of your profession, being specifically designed for Vets”.

It covers a number of elements:

Covers theft, accidental damage or malicious damage of property belonging to your practice
Includes cover for contents temporarily removed from the practice
Computer systems (standard cover £50,000)
Equipment breakdown cover
Low standard excess for most claims – £100 standard excess
Drugs and medical stock cover
Deterioration of stock covered up to £7,500 in any one appliance

Buildings

Covers structural damage to the property

Accidental damage, break in or vandalism, including glass and fixed sanitaryware
Damage due to events such as fire, flood, storm or subsidence

Theft or damage of cash and cheques

Money in premises or in transit during business hours (up to £7,500)
Money out of hours while kept in a locked safe (up to £5,000)
Money kept at home (up to £1,000)

Vet specific cover

Animals in custody or control up to £25,000 any one animal and maximum £50,000 any one event
Animals in transit
Cover available for Embryo and Semen

Additional support

Business interruption

Loss of income covered when you are forced to stop trading due to an insured peril such as fire, flood, storm damage or failure of public utilities
Increased cost of working included, giving you the opportunity to reclaim the costs incurred to continue operating from a new location

Legal Expenses

Legal expenses up to £250,000 per event
Cost of preparing a legal defence, including employment disputes, criminal prosecution, data protection, debt recovery or tax investigations
Also includes employee absence relating to jury service

Liability Cover

Damage to third party property or injury to members of the public
Employer’s Liability up to £10m
Public & Products Liability up to £5m
Bodily injury or disease sustained by an employee while at work

Why not book a complimentary appointment with an advisor at Lloyd & Whyte? They will review your specific requirements in order to provide appropriate advice on your insurance needs. Finding the right cover for your business not only sets your mind at ease but makes all the difference in a crisis.

Why Lloyd & Whyte?

Trusted expertise

We’re the BVA’s partner for financial services, practice and locum insurance. Working closely with the BVA, we’ve put together a range of services to help vets in their professional and personal life. We can help you find a policy that gives you the cover you want for yourself, your family, and your business. The insurance that Lloyd & Whyte provide is bespoke, and firmly focused on your profession. We are fully chartered; a status awarded to organisations able to prove a sincere commitment to professionalism and service.