Medical Device Insurance

small business covered by medical device insurance

Help Protect Your Innovation With Medical Device Insurance

Your medical devices and equipment need to be reliable – just like your insurance. With medical device insurance coverage, you can focus on distributing life-changing technologies and supporting positive patient outcomes.
 
Quote Today
small business covered by medical device insurance

Why Do You Need Medical Equipment Insurance?

Your medical devices are at the forefront of patient care, pushing the boundaries of innovation and precision. But the nature of your work also brings unique risks. Insurance for medical device companies helps provide a safety net to protect your business. We designed our business insurance coverages with companies like yours in mind. So, you can focus on your patients, while knowing you’re better prepared for the unexpected.
business owner protected by insurance for medical device

Who Needs Insurance for Medical Devices?

The Hartford’s insurance solutions can help protect many types of businesses in the life science industry, including:
 
  • Medical device manufacturers
  • Research and development companies
  • Medical equipment suppliers
  • Diagnostic equipment providers
  • Biotech startups
small business owner protected by medical equipment insurance

What Type of Insurance Do I Need for Medical Equipment?

Many medical device companies have a Business Owner’s Policy (BOP) because of the peace of mind it provides. A BOP combines three types of coverage and can help protect your medical device company from claims of bodily injury or property damage.
A BOP includes:
 
  • General liability insurance to help protect your business from claims that it caused bodily injury or property damage to someone else.
  • Commercial property insurance to help protect your owned or rented buildings, tools, equipment, supplies and inventory that you use to operate your medical device company.
  • Business income insurance to help replace your lost income if you can’t operate your medical device company because of property damage caused by fire, theft or wind.
It’s important to remember that a BOP won’t cover every type of claim. You’ll need to get other types of insurance to increase your protection. This may include workers’ compensation insurance or commercial auto insurance.
 
 

How Much Does Medical Device Insurance Cost?

The cost of medical device insurance varies, but here are the average costs The Hartford’s customers in this industry pay for some common types of coverage:**
 
  • BOP: $1,687 a year, or about $141 a month
  • Standalone general liability insurance: $810 a year, or about $68 a month
  • Workers’ compensation insurance: $1,032 a year, or about $86 a month
Be aware that every small business owner has unique needs. Insurers can also use several factors to determine rates, so the amount you pay for insurance may be different than the average. The best way to find out your medical device insurance cost is to get a quote.
business owner protected by medical device insurance coverage

Proof of Insurance When You Need It

Need proof of insurance? We’ve made it easy for you to get your certificate online whenever you need it.

Covering Your Operations

In the medical device industry, precision and reliability are non-negotiable. But even with the best safeguards, unexpected incidents can happen. The right type of insurance coverage can help you better respond to unforeseen incidents.
Fire departments in the U.S. respond to an estimated 1,450 warehouse fires per year.2
office protected by business income insurance for medical devices

Business Income Insurance

“A fire broke out in our warehouse, destroying most of our inventory. We had to close for two weeks while we waited for a restock and were unable to take any new orders.”
 
Business income insurance can help you pay ongoing operating expenses, like rent, utilities or payroll, if you can’t operate because of covered property damage.
general liability insurance for medical devices

General Liability Insurance 

“We were delivering and installing medical equipment at a hospital when one of our employees accidentally damaged an X-ray machine.”
 
General liability insurance helps cover claims that your medical device business damaged someone else’s property.

Taking Care of Your Team

We know how important your employees are to the success of your medical device business. That’s why we designed our insurance coverage to help protect your team from risks they face on the job. 
In the United States, 43% of musculoskeletal injuries requiring time off, restriction or transferred work are primarily due to back injuries.3
employee covered by workers' compensation for medical devices

Workers’ Compensation Insurance

“One of our sales reps hurt her back while loading heavy equipment onto a delivery truck. She needed to go to the hospital for treatment and had to take time off to recover.”
 
Workers’ compensation insurance gives your team benefits to help them recover from work-related injuries or illnesses. It can help cover their medical bills and replace lost wages. With The Hartford, your employees also have access to a network of over 1 million providers and 65,000 pharmacies.
car accident covered by commercial auto insurance for medical devices

Commercial Auto Insurance

“I was driving our company truck to pick up supplies when I lost control on a turn and crashed into someone’s mailbox.”
 
Commercial auto insurance helps protect your medical device and equipment business on the road when using a company-owned vehicle for work. It can help cover claims of property damage or bodily injury if your business is involved in an accident.

Protecting Your Property

Working in the life science industry means your business relies on sophisticated equipment and tools, but what would happen if they got damaged or stolen? The right type of insurance can give you peace of mind and help protect your business’ critical property.
Burglaries at commercial spaces and storage facilities made up about 12% of total burglaries in the U.S. in 2022.4
office covered by commercial property insurance for medical devices

Commercial Property Insurance

“Someone broke into our office and stole our computers and a few blood pressure monitoring devices we were going to deliver to a local medical office.”
 
Commercial property insurance helps protect the equipment, tools and supplies your medical device company relies on.
Lost Records Insurance for medical device businesses

Lost Records Insurance

“A pipe burst in my office over the filing cabinet with important client and supplier information. All of our paperwork was destroyed, and we couldn’t salvage any of it.”
 
The Hartford’s lost records insurance can help cover the cost to fix or replace valuable records destroyed by a covered cause of loss.

Medical Device Insurance Made for Your Business

With more than 200 years of experience, The Hartford understands the complex landscape you navigate. We’re proud to offer coverage solutions that can meet your specific needs. Our deep industry knowledge and expertise can help protect your medical device business from the unexpected.
 
Find out more about other technology professions we insure.
 

Frequently Asked Questions About Medical Device Insurance

Medical device insurance coverage provides critical protection for distributors against unique risks. It consists of different types of insurance coverage to help protect you from common claims made against your business, such as bodily injury, property damage or damaged records. You can also get other types of coverage to increase your protection, such as commercial auto insurance.
The medical device insurance industry faces high compliance and safety expectations. Insurance for medical device companies can help protect your business from various claims. Without coverage, your company would have to pay out of pocket for claims or lawsuits. This can get costly and puts your business at financial risk.
Getting medical equipment insurance is easy. You can get a customized quote online that is tailored to your needs today.
business owner happy after getting medical device insurance quote

Get Medical Device Insurance Today

Get the protection you need to stay on the cutting-edge of patient care.
 
Quote Today
 
 
Last Updated: April 10, 2025
** Costs, premiums, and coverages mentioned are estimates and are not guaranteed. Actual cost, premium, and coverage are determined at the time of quote or issue and are specific to an individual risk. Premiums are based on information provided to The Hartford, including, but not limited to, underwriting and rating criteria. All examples included on this website or in an advertisement are intended for informational purposes only and are not an offer or a guarantee of premium or coverage. Coverage and products described are subject to the terms and conditions found in the policy contract. Any educational information provided about available coverages does not modify the policy language or imply that any claim is covered. Products are not available in all states or for all businesses.
2 National Fire Protection Association, "Warehouse Structure Fires"
 
3 National Safety Council, “Work Safety Musculoskeletal Injuries and Illnesses”
 
4 Statista, “Number of Burglaries in the United States in 2022, by Location”
This page outlines in general terms the coverages that may be afforded under a policy from The Hartford. All policies must be examined carefully to determine suitability for your needs and to identify any exclusions, limitations or any other terms and conditions that may specifically affect coverage. In the event of a conflict, the terms and conditions of the policy prevail.
 
All Hartford coverages and services described on this page may be offered by one or more of the property and casualty insurance company subsidiaries of The Hartford Insurance Group, Inc. In Arizona, California, New Hampshire, Texas, and Washington by Hartford Fire Insurance Company, Hartford Casualty Insurance Company, Hartford Accident & Indemnity Company, Hartford Underwriters Insurance Company, Twin City Fire Insurance Company, Pacific Insurance Company, Limited, Sentinel Insurance Company, LTD (CA license #8701), Hartford Lloyd's Insurance Company, Hartford Insurance Company of Illinois, Hartford Insurance Company of the Midwest, Trumbull Insurance Company, Hartford Insurance Company of the Southeast, and Property & Casualty Insurance Company of Hartford and its property and casualty insurance company affiliates, One Hartford Plaza, Hartford, CT 06155.
 
Additional disclosures below.
The Hartford shall not be liable for any damages in connection with the use of any information provided on this page. Please consult with your insurance agent/broker or insurance company to determine specific coverage needs as this information is intended to be educational in nature.
 
The information contained on this page should not be construed as specific legal, HR, financial, or insurance advice and is not a guarantee of coverage. In the event of a loss or claim, coverage determinations will be subject to the policy language, and any potential claim payment will be determined following a claim investigation.
 
Certain coverages vary by state and may not be available to all businesses. All Hartford coverages and services described on this page may be offered by one or more of the property and casualty insurance company subsidiaries of The Hartford Insurance Group, Inc. listed in the Legal Notice.
 
The Hartford Insurance Group, Inc., (NYSE: HIG) operates through its subsidiaries under the brand name, The Hartford, and is headquartered in Hartford, CT. For additional details, please read The Hartford’s Legal Notice.
 
* Customer reviews are collected and tabulated by The Hartford and not representative of all customers.
Get a Business Insurance Quote