BizInsure has announced its intentions to prioritise providing insurance for home health care businesses, increasing product availability and service in the wake of increased demand the sector.
The move by the US business insurance platform, which celebrates its 10th year in business this month, strengthens its position as the only online comparison platform for the home care market.
“We believe insurance should reduce the stress that comes with operating a home care business, rather than adding to it,” says Pavel Yurkov, VP of Technology & Operations at BizInsure. “Home care providers can take advantage of our expert team and smart online platform for peace of mind in minutes.”
With more than 20% of Americans considered caregivers according to a 2020 study, the home health care sector is experiencing a job boom.
Currently employing more than 3.4 million Americans, the industry is set to grow by one-third (33%) over the 2020-30 decade – much faster than the predicted average occupation growth rate of 8% in the US.
A reason for this could be that most Americans simply want to age at home, according to a recent study. From being worried about the safety of nursing homes after the Covid-19 pandemic to wanting to age closer to friends and family, there are many reasons Americans want to age at homes.
While the results of this will see home health care become the norm, it also will also likely see the creation of new home health care businesses in the sector.
Providing a wide range of injury and illness-related medical services in patient’s homes, home care professionals typically face many unique risks every time they go to work.
Business insurance is therefore an important yet oft-neglected safeguard against these risks, which have the potential to severely impact a home care business if left unprotected.
“Many home care businesses were left unprotected due to the often confusing and time-consuming process it took to get their insurance sorted,” says Mr Yurkov. “The BizInsure platform not only makes buying home care insurance easy, but it could also help you save when you renew your current policies.”
Instead of spending hours getting quotes from different insurance companies and sifting through endless paperwork, the platform allows home care professionals to compare multiple quotes side-by-side and get covered instantly online.
Recently featured by the leading home care professional magazine HomeCare, BizInsure offers this coverage through a Miscellaneous Medical Liability Package designed specifically for Home Health Care Professionals.
“We’re fiercely committed to the small business community and no policy is too small for us,” says Mr Yurkov. “Jump online to be connected with some of the top-rated insurers in the country.”
BizInsure is an offshoot of the Australian Insurtech BizCover, which disrupted the insurance industry in 2008.
Troubled by the merry-go-round small businesses had to go on just to get the right insurance coverage for their business, they brought the online service to the US market in 2012 under the BizInsure brand.
This revolution allowed them to reduce costs and fees, increase pricing transparency and decrease the hassle of getting insured for time-poor and cost-conscious small business owners.
BizInsure has sold over 18,000 business insurance policies as of 2022.