Insurance for your Laser:

Many Laser Tattoo Removal practices have at their core a laser which represents the most expensive capital equipment in their practice.  Insuring this device against theft or loss is prudent.  In fact, it may be a requirement of the firm that provides financing for your laser.  Keep in mind that this insurance does not provide support against service issues or equipment repair.  This is another type of insurance, often called:

Extended Service Contracts

An authorized Service Provider, such as Photonics Service Group, has been certified by the equipment manufacturer to offer Extended Service Contracts on their devices.  In the case of Quanta, Photonics Service Group technicians have received training and completed certification requirements, have purchased the required and specific tools required by Quanta System, and have access to the parts required to maintain your device at manufacturer’s specifications.  Photonics Service Group offers an Extended Service Contract that provides for a set annual payment regardless of the need for service on any covered component.  This often includes a Preventative Maintenance visit.  Many business find it most attractive to budget for the predictable cost of an Extended Service Contract than to be faced with a sizeable service bill if something were to happen to your laser.

 General Liability Insurance

It is often required that a Laser Tattoo Removal business have General Liability insurance.  This type of insurance, sometimes referred to as Commercial or Business Liability insurance, will protects the business from a number of factors that, hopefully, will never befall your business.  In fact, that’s the purpose of insurance as a whole: the business pays a small expense against the unlikely event that a rare, yet costly, event could materially impact the business.  This could be damage to the building, a customer falling and hurting themselves in your business, or any number of events, however unlikely.  Keep in mind- if it happens just once, it can be financially stressful, or even catastophic.  Therefore, insurance such as this is always a good idea though you may, in fact, never use it.

General Liability insurance can be customized to your particular needs through the employment of an ‘insurance rider’.  Please check with your local insurance professional to better understand whether these options would make sense for you.  In some cases, the insurance for your laser (mentioned above) may be written as an insurance rider on your General Liability insurance.

This insurance can be underwritten by any regular insurance provider – just make sure the plan is comprehensive and written to cover your needs.

 Malpractice Insurance

Malpractice insurance is professional coverage for clinicians who actually perform the procedure. This provides the necessary protection for a trained practitioner operating a laser in accordance with the manufacturer’s guidance and in consideration of their clinical knowledge of the specific patient being treated.  It does not provide coverage in the case of wanton disregard of the technical system requirements or in the absence of sound clinical discretion.  Malpractice Insurance protects an individual clinician.  It may also protect the business in the case of clinical negligence or an ‘error and omission’ by the laser operator.

Other Insurances

Today, there are a wide variety and an almost endless offering of insurances available to a business.  Having a transparent relationship with an insurance professional who can appropriately understand your business can be valuable.  In some cases, a particular insurance may uniquely protect your business against a potential loss.  In other cases, it may just provide the peace of mind that allows you to sleep well at night.  This may include:

  • Personal Property insurance, or
  • Employment Practices insurance, or
  • Worker’s Compensation insurance, to name just a few.

The bottom line:

Quanta Aesthetic Lasers has significant experience and expertise with Laser Tattoo Removal businesses. In our experience, its important to:

Have the right type, and level of insurance,
Develop a transparent relationship with a local insurance professional who will take the time to understand your business, and will make thoughtful recommendations that support you. They should be motivated by appropriately meeting your needs, not by overselling insurance in order to earn a commission, and
Consider an Extended Service Contract as a valuable form of insurance.

We look forward to sharing our experience, and leveraging our resources, to help your business get started on the right foot with financing that gives your business its best chance at success.