Does your medical spa offer CoolSculpting? This is a non-surgical medical spa treatment that targets excess fat (usually in the stomach and arms) through the use of cryolipolysis (or freezing fat cells) and is extremely popular at many New York City spas.
But if you own and manage such a spa and have a CoolSculpting machine to offer this procedure to your patients, keep in mind that it absolutely requires insurance — for your protection and your patients’.
Why Does CoolSculpting Require Insurance?
We often get the question, “Does insurance cover CoolSculpting?” to which we don’t have a clear answer at the outset. That’s because it truly depends on the insurance you currently have. Many medispa insurance plans are offered on an a la carte basis, meaning you can pick and choose the coverage you want.
For this reason, when we hear “Is CoolSculpting covered by insurance?” from worried medispa owners, we generally think No. In other words, if you don’t know whether or not your CoolSculpting procedure is covered by your insurance, it’s probably not.
But again, it is crucial that you have this type of insurance to protect yourself and your patients. There are five specific reasons:
Malpractice insurance protects you in the event of an accident.
No matter how wonderful you are at your job and how great the CoolSculpting results are for your patients, you are still opening yourself up to risks when you offer this procedure.
You are working one-on-one with patients, and even though something may occur with the procedure that appears very small, it’s not unheard of for a patient to take you to court over an accident or something that contributes to their bodily injury (in any way) or financial loss.
Coolsculpting malpractice insurance protects you. If a patient sues for any reason relating to CoolSculpting, you’ll be fully covered.
Property coverage protects your equipment.
Next, remember that your CoolSculpting equipment is extremely pricey. In order to be able to offer this service to your customers, you’ve invested in it at great cost.
If something were to happen (such as a fire or theft) and you didn’t have property coverage, you’d be out this money. Property coverage that includes your CoolSculpting equipment will take care of any accidents or damage that may occur to the products.
You can even cover off-site services.
Again, you’re great at your job, but sometimes, even general accidents can happen when you take your CoolSculpting equipment off-site. Some medispas may opt to offer services at a second location, such as someone’s home or an event. In these cases, your CoolSculpting insurance coverage can even cover you there — when no other form of coverage would be suitable to protect you.
Your employees will be taken care of.
Insurance can also protect your employees if they are possibly sued by patients because of an accident involved with CoolSculpting or if they are injured on the job. Remember that workers’ comp insurance is another form of coverage that all medispas should have.
Finally, if your business is interrupted, you’ll have coverage as well.
In some cases, you may need to put your business on hold. For example, if you are being sued and you must appear in court along with your employees, this would stop you from being able to operate your business. Having coverage for business interruption allows you to “stay in the black” even during these periods.
Contact Marine Agency Insurance for More Information
Finding an insurance agency who specializes in coverage for something as specific as CoolSculpting can be a challenge. Fortunately, at Marine Agency Corp, we have a policy that does just that. We’re the agency you’ve been looking for.
Since 1922, Marine Agency Corp has been providing quality insurance policies to businesses in New York City & New Jersey. So if you offer coolsculpting in NJ or NY, we can help. Moreover, since the 1980s — before most other agencies — we’ve been providing the best medispa insurance for personal care businesses and medical spas.
Remember: Get your CoolSculpting Insurance in place before something happens. You need this insurance because:
- It protects your CoolSculpting equipment.
- It protects your employees.
- It protects you from being sued for malpractice.
- It offers business interruption coverage.
- It protects you off-site.
Our expert agents have the extensive experience and knowledge needed to provide the best possible coverage for your medical spa or personal care business. Contact us today to learn more or get a quote on a policy.