Practice Owners: Know Your Liability – the Differences Between Professional Liability, General Liability, and Business Owner’s Insurance

May 3, 2021
Learning the differences between liability insurances is essential for any optometric practice owner.
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As a practice owner, you may require multiple types of insurance policies to best protect yourself and your practice. Knowing which policies are best for your practice can be confusing. Lockton Affinity, AOAExcel’s endorsed business partner, has broken down the basics of professional liability, general liability and business owner’s insurance policies.

Professional liability insurance, or malpractice insurance, insures ODs in the event that they are named in lawsuits regarding services or advice provided to their patients. Professional liability insurance is required by law and is also necessary in order to participate as a provider for vision plans and insurance companies. Professional Liability insurance will reimburse ODs for costs accrued while defending themselves during lawsuits.

General liability insurance covers costs associated with third-party claims of physical injury, property damage, etc. Some examples of general liability claims might include if a patient were to trip on a mat in a practice or a patient’s vehicle being damaged in the practice’s parking lot.

Business owner’s insurance, also referred to as BOP, is a bundle of coverage designed to protect your practice. BOP contains general liability insurance to cover the costs associated with third party claims, along with commercial property insurance and business income insurance. Commercial property insurance covers your practice’s physical location and equipment, whether you own it outright or lease it. Business income insurance helps to replace lost income resulting from a temporary closure due to a covered incident, such as a fire. As a practice owner, bundling your general liability, commercial property, and business income insurance policies into one business owner’s policy is a convenient way to protect your practice.

To learn more about policies available to practice owners, contact Lockton Affinity at or 888-343-1998.

This content was provided by Lockton Affinity, AOAExcel's strategic partner. Available insurance products include professional liability, cyber liability, business owners' insurance, employment practices liability insurance, and much more. To learn more, visit or contact Lockton Affinity at

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