Updated: June 11, 2020

GP locum insurance

Looking for locum insurance in the event your GP practice is short-staffed? The brokers we work with can help you find the right deal.

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Richard Angliss

Author: Richard Angliss - Finance Expert

Updated: June 11, 2020

The Clinical Commissioning Group (CCG) set up in accordance with the Social Care Act in 2012, states that GP partners are required to provide care for the thousands of people in their area. This sounds like a relatively straightforward and reasonable requirement, but if a GP practice unexpectedly becomes short-staffed, the practice is legally obliged to make alternative staffing arrangements. These staffing arrangements often come in the form of a locum GP.

Locum doctors can sometimes be the only option to remedy mounting waiting lists, and fast. But they don’t come cheap. A full-time locum can cost in excess of £2500 for one week! In an ideal world your core staff should suffice when running a GP practice, but in reality you’ll almost always need backup. This is where locum insurance comes to the rescue.

Locum insurance is designed to cover costs incurred if a practitioner cannot work. A practice’s key workers need insuring from a plethora of work absence issues, and depending on which GP locum insurance policy is taken out, practices can be covered for workers who go on maternity or paternity leave, or if they become injured, if they are suspended from practice, have a pregnancy related illness, jury service, family illness or suffer stress.

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So how does locum insurance work?

Essentially, locum insurance puts money in your hands if a practitioner or a member of the practice staff is unable to work. If you have to use a locum doctor your insurance will kick in and ‘fund’ the locum. It’s a key part of risk management planning.

Insurers offer a number of different policies to choose from:

  • Practices need to decide whether to choose between long-term permanent cover or annually renewable cover
  • As mentioned, there are a huge number of reasons for staff absences. Therefore a GP practice will have to decide whether their surgery insurance will cover staff due to illness and injury, or expand that cover to include factors such as jury service, suspension or delayed return from holiday. Your policy can also be extended to needlestick cover, including occupationally acquired HIV.
  • A decision has to be made on how much your locum insurance you can afford. Prices often range from £200 to £3,000 a week
  • GP locum insurance can be set up by a practice or an individual practitioner. Therefore, an individual can decide his or her policy, which may include extensive measures to suit their particular needs
  • Locum insurance isn’t restricted to GPs and doctors, in fact, dentists, opticians, vets and pharmacies can take out locum cover for the same reasons; to protect their workforce and funds, to ensure their practice runs efficiently.

With a wide variety of policies available, it is beneficial to use a broker who can put you in touch with the best possible insurer. We have access to those specialist brokers who can tailor your insurance directly to suit your needs.

Points to consider:

  • Different policies suit different practices and what might work for one might not be cost effective for another
  • You may choose to insure a number of people in your practice. If this is the case, you may be eligible for a group discount
  • In the event of a claim how long could you wait until you start receiving money from your policy?
  • If you haven’t reviewed your policy in a number of years there’s a chance you could be paying a premium that’s too high for your surgery’s needs. We have access to specialist advisors who can potentially bring your costs down.

Whether you are an individual doctor, dentist, optician or vet wanting a policy in your own name or a practice needing cover for your practitioners or staff, the advisors we work with can find the policy for your needs.

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We can help! We know everyone's circumstances are different, that's why we work with brokers who are experts in business protection insurance. Ask us a question and we'll get the best expert to help.

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Richard Angliss

Richard Angliss

Finance Expert

About the author

Richard Angliss has made a career in financial services which stretches over 40 years.

His early career was spent learning about the various financial products and applying them to prudent advice, working for one of the largest life assurance and investment firms. After that he joined the financial services arm of a very well-known firm providing independent advice to their 8 million customers.

For the last 20 years he has been involved in building software solutions that help Advisers and clients work together to achieve good financial outcomes and helping to set up three independent advisory firms. He also has written many articles for financial services publications and provided commentary for newspaper journalists.

At an early stage in his career he realised the great satisfaction that comes with being able to help people achieve their goals and protect their families. “Regulation of financial services has hugely impacted on ensuring people get appropriate advice. The issue these days is access to that advice and just as importantly regular reviews to make sure that everything stays on track”.

With the growing development of online resources such as Online Money Advisor he sees a great future for people to access advice to make their pension and investment work harder for them.  Plus, of course, to ensure they have insurance products in place that will be required when unforeseen events happen.

He knows getting that balance right is crucial to prudent financial planning and the wellbeing of individuals and their families.

FCA Disclaimer

*Based on our research, the content contained in this article is accurate as of the most recent time of writing. Lender criteria and policies change regularly so speak to one of the advisors we work with to confirm the most accurate up to date information. The information on the site is not tailored advice to each individual reader, and as such does not constitute financial advice. All advisors working with us are fully qualified to provide mortgage advice and work only for firms that are authorised and regulated by the Financial Conduct Authority. They will offer any advice specific to you and your needs.

Some types of buy to let mortgages are not regulated by the FCA. Think carefully before securing other debts against your home. As a mortgage is secured against your home, it may be repossessed if you do not keep up with repayments on your mortgage. Equity released from your home will also be secured against it.

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