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Business Insurance for Pharmacies

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A pharmacy, by definition, is in the medical care business. But that may not be all. Your pharmacy will differ from others and so will your insurance needs. It makes sense to have those needs reviewed and obtain options from an insurance professional who isn't required to sell any one insurance company's products. As an independent insurance agent we can develop several alternatives for handling pharmacy insurance needs and review the pros and cons of each.

Most any business, pharmacies include, will need basic business insurance coverage including:

  • Business property insurance
  • Business liability insurance
  • Business auto insurance
  • Workers compensation insurance
  • Business interruption and loss of income
  • Crime insurance

Pharmacies, because of the nature of the products, equipment and professional expertise involved, will generally also need one or more of these insurance policies:

  • Professional liability insurance
  • Spoilage coverage
  • Equipment breakdown

And finally, it is a good idea to consider a few other insurance coverages that can fill gaps and prevent potentially devastating financial loss. A few of these are:

  • Commercial umbrella insurance
  • Flood insurance
  • Ordinance and law coverage

It may sound like a lot to digest, but our insurance professionals will take all the legwork - and guess work - out of choosing the right insurance program for your pharmacy