Vet Locum Insurance

Counting the cost of absence

Staff absence can cause major financial strain on a veterinary practice. So, if you or a member of your practice becomes incapacitated, how would the business continue to cope with its ongoing financial commitments?

Our Vet Locum Insurance, Practice Absence, is available exclusively to practices with a BVA member as a principal or partner. It offers financial support when you need it most. Unlike Income Protection, which compensates for a loss of personal earnings, Practice Absence provides financial assistance with the day-to-day expenses of the business should you, your partners or staff become unable to work.

Typical expenses may include:

- The costs of employing a Locum

- Vets Salaries and wages

- Overtime / Extended surgery hours

- Equipment rental

- Utility bills (electricity, water etc.)

- Rent / Loan payments

Following a claim the weekly benefit can be used to cover the cost of any practice overheads and the benefits can continue for up to 52 weeks. Our Practice Absence Insurance is an all-encompassing policy, which can offer protection to all participating principals and partners as well as any other member of the practice.

Key features and Benefits of Practice Absence Insurance:

- Cover for sickness and accident

- Weekly benefit ranging from £400 to £2500 per week

- Low cost – from only £4 per week

- Benefit payable for up to 52 weeks

- 14 or 28 day deferred period - Other options available upon request

- Optional lump sum benefit for death or permanent incapacity

- Optional 10 interest free monthly instalments

Practice Absence Insurance also has an optional lump sum feature that can provide your practice with a tax-free lump sum benefit of up to £150,000 in the event of accidental death or permanent incapacity where an insured person is unable to return to their usual or similar occupation (for which they are qualified and suitably experienced) after a 12 month period.

To obtain your monthly premium simply select the benefit you require and cross reference with your chosen deferred period. You can choose to have the weekly benefit combined with the lump sum or on its own. (Costs shown are per person)

Weekly Benefit  (Examples)	Benefit period	Deferred period	Annual Cost
£400.00	52 Weeks	28-days	£179.20
	52 Weeks	14-days	£308.00
£800.00	52 Weeks	28-days	£358.40
	52 Weeks	14-days	£616.00
£1,200.00	52 Weeks	28-days	£537.60
	52 Weeks	14-days	£924.00
£1,600.00	52 Weeks	28-days	£716.80
	52 Weeks	14-days	£1,232.00
£2,000.00	52 Weeks	28-days	£896.00
	52 Weeks	14-days	£1,540.00
£2,500.00	52 Weeks	28-days	£1,120.00
	52 Weeks	14-days	£1,925.00

 

Optional Lump Sum Benefit

Lump Sum Benefit	Annual Cost
£40,000	£27.79
£50,000	£34.73
£60,000	£41.68
£70,000	£48.62
£80,000	£55.57
£90,000	£62.52
£100,000	£69.46
£150,000	£104.20

 

 

 

 

 

 

 

 

 

Includes Insurance Premium Tax at 5%. A £20 admin fee will be added to the total practice premium.

To download information and application form please click on the link below:

> Vet Locum Insurance Information

> Vet Locum Insurance Application pack

> Vet Locum Insurance Policy Wording 

To discover the benefits of Practice Absence Insurance through your BVA Membership simply click on “More Information” above and complete the brief form. Alternatively you can call us on 0845 070 0115.