Insurance for Home Care Providers, Businesses and Agencies
Insurance for professional Home Health Aides is an underpinning to a successful career as a care provider. Whether you are a Home Health Care Provider working as an independent contractor or running your own agency, you should consider Home Health Care Insurance.
Home Health Care Provider and Home Health Care Business insurance is important because it can make the difference between keeping your agency open or having to close because of a costly claim that has arisen due to an accident or error.
Why do home health care providers need insurance?
Even the most careful health professional can make a mistake, miscommunicate care instructions to others, or even become injured themselves. These events (and others) may lead to an expensive liability claim or lawsuit.
Without home health care insurance coverage, you would be responsible for paying legal fees resulting from a liability claim from your own pocket. This could be financially devastating to your business, particularly if you are ordered to pay a hefty judgement by the court. Worst-case scenarios could mean filing for bankruptcy, closing your business, or borrowing from your personal savings to pay these expenses.
Even false or baseless claims can be costly to defend against. Home health insurance covers you whether a claim made against you has merit or not, helping defend your professional reputation and keep your business up and running.
What risks do Home Health Care Providers face?
As a Home Health Care Provider, you help care for and assist patients in their own homes. Working with elderly or disabled patients can be challenging and unpredictable. This presents unique risks to you and your clients.
Home Health Aides face many types of risks in their line of work. These include, but are not limited to, mistakes or errors in their work; misunderstandings or miscommunications between themselves, patients, and patients’ families; injury to their patients; damaging a patient’s property; and claims of negligence.
Home health care insurance can help protect you, your business, and you employees from these risks and others.
Insurance for Home Health Care Provider
There are two major types of insurance protection that you may want to consider as a Home Health Aide: Professional Liability insurance and General Liability insurance. These two home health care insurance coverages help shield you from different types of claims. You can think of them as two sides of one coin that go hand in hand to help protect you and your clients.
Professional Liability Insurance for Home Health Care Provider
Professional Liability insurance can protect professional service providers from potentially devastating financial damages resulting from alleged negligence or error in the delivery of your services. If you get sued, this insurance can pay your legal costs, which includes the cost of an attorney and a settlement if one is awarded.
For example, you advise a patient to go for a short walk to keep active, however they trip and injure themselves doing so. They are claiming that you knew of the client had a physical impairment and want you to pay for their medical bills. Your Professional Liability coverage protects you from that financial burden.
General Liability Insurance for Home Health Care Provider
General Liability coverage, also referred to as Commercial General Liability (CGL) or “slip and fall coverage”, can protect your business against bodily injury or property damage lawsuits from outside parties.
For example, while at a client’s home you accidentally knock over an antique vase. It was an accident, but you are asked to replace the vase. Your General Liability coverage is there to cover you.
Miscellaneous Medical Liability Package for Home Health Care Provider
BizInsure offers Miscellaneous Medical Liability for Home Health Aides. The package includes General Liability, Professional Liability and Cyber Liability insurance. It provides good coverage at a great price.
Insurance for Home Health Care Business
Home Health Agencies must have appropriate insurance protection as well. Proper insurance makes sure that your agency can recover from mistakes or claims and can continue to provide a valuable service for your clients.
Professional Liability Insurance for Home Health Care Business
Professional Liability insurance for Home Health Care Business protects your business against claims of negligence, misrepresentation or mistake, as well as document or paperwork errors.
For example, one of your clients claims that an employee of your agency administered the incorrect medication at a recent visit. The client had a reaction and had to seek medical attention. Now the client is suing your agency. Your Professional Liability policy will help pay legal expenses incurred while defending your home health care business in court.
General Liability Insurance for Home Health Care Business
As a Home Health Agency, you must also have coverage for claims and accidents that arise from activities and operations that are not related to your professional services. For these risks, there is General Liability coverage. General Liability insurance is your basic insurance coverage and may even be required by a landlord or other business partner.
General Liability protects your agency from claims that may arise in the normal course of operations. For example, a client visits your office on a rainy day, and slips and falls as they enter the door. They may hold you responsible for their twisted ankle even if you posted warning signs. Your General Liability policy would pay the client’s medical bills resulting from their injury.
Cyber Insurance for Home Health Care Business
In today’s world, all systems are susceptible to cyber-attacks. Like most other business, your Home Health Business probably uses a computer system to keep track of your client’s details, services, and employees.
A cyber-attack could mean that your business information or even your client’s financial information is compromised. If you collect this type of information from your clients, it is the responsibility of your agency should something happen to it.
While you can’t always prevent a cyber-attack from happening, Cyber Liability insurance can help your agency deal with the fallout should one occur.
How much does insurance for Home Health Care Providers cost?
Every Home Health Care Provider, Home Health Aide, and Home Health Agency is unique, despite all working in the same industry. Insurers take into account a variety of factors to calculate your premiums—the amount you will regularly pay for your home health care insurance coverage.
These factors may include:
- The size of your business
- How many people you employ
- Employee qualifications and licenses
- Where your business is located, or where you work
- Your history of past claims
- The amount of insurance coverage you need
Getting quotes from different insurers is a reliable way to understand how much you should expect to pay for home health care insurance that fits the specific needs of your small business. BizInsure can help you quickly receive and compare multiple quotes from multiple insurers in minutes, either online or over the phone.
A Package Designed for Your Profession
BizInsure offers Miscellaneous Medical Liability Package designed specifically for Home Health Care Professionals. The package includes General Liability, Professional Liability, and Cyber Liability insurance.
It’s completely free to get multiple quotes from A-rated insurers
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