We all know that it is very common for doctors and hospitals to carry insurance coverage for their practices. However, home healthcare presents its share of challenges and potential problems while on the job. Furthermore, home healthcare needs are on the rise as our population sees an increasing number of aging and elderly individuals.
As your business continues to grow, it is essential to prepare for any contingency that you might encounter along the way. Pen-Ex: A Villanova Insurance Partners Company can offer that level of protection you need with our end-to-end coverage options.
What Does Your Home Health Care Liability Insurance Cover?
- Professional Liability – Home healthcare involves a lot of person-to-person interaction, and sometimes accidents happen. Professional liability insurance protects you, your employees, and your business from negligence claims that may arise from injuries that occur while you perform your duties as a caregiver.
- General Liability – General liability insurance covers all other liability issues that arise from claims that do not have to do with providing home healthcare services. This coverage will protect you in the circumstances, such as disputes over employee benefits. We also offer broadening endorsements, increasing your coverage and ensuring additional protection.
- Property – Property damage can also be useful for home healthcare providers to keep both your property and the property of your clients safe. PenEx also offers broadening endorsements for property coverage, which can help cover costs of lost keys, lost paperwork, or special equipment.
- Auto – Home healthcare providers are frequently out of the office, visiting their client’s homes. Therefore, having auto insurance for your work vehicle that you use to get from home to home included in your home healthcare insurance policy is essential.
- Umbrella – Umbrella insurance is there for the biggest accidents, where damages might exceed any particular policy limit. This not only saves you money from paying more on your monthly premiums for each coverage option, but ensures that you have plenty of coverage for even the worst-case scenarios
- Medicare and Surety Bonds – If you intend on providing medical equipment to Medicare recipients, you’ll need a surety bond to get started. Our bonds allow you to guarantee that you’ll meet the obligations of any Medicare contract and protect you from any financial losses that might occur in the event you are unable to meet the contract terms.
- Worker’s Compensation Insurance – It isn’t just there to protect your clients from injury; it’s also there to protect your employees who might be injured while on the job. PenEx also offers Pay-As-You-Go options, allowing you to make your premium payments when you run your payroll, thus providing more financial flexibility.
- Fidelity and Crime Bonds – Unfortunately, we occasionally come across individuals who have bad intentions or perform fraudulent acts in our professional careers. Though we always hope these circumstances never arise, there is comfort in knowing options to protect you from such acts. Our fidelity and crime bonds protect our policyholders from losses stemming from fraudulent or criminal acts.
- Physical Abuse, Sexual Misconduct, and Sexual Molestation – Though most home healthcare providers carry themselves with the utmost professionalism, everyone in the industry has heard of horrific instances of abuse or sexual misconduct between caregivers and clients. If such instances do arise, our abuse and sexual misconduct coverage will protect your business from claims that occur while you perform your duties as a caregiver.
- Employment Practices Liability – This coverage ensures costs related to disputes arising from employment claims, typically between the employer and employee. It will cover the cost of attorney fees, damages, or settlements in wrongful termination, discrimination or harassment in the workplace, and retaliation claims.
- Independent Medical and Non-medical Contractor’s Coverage – Home healthcare providers often rely on the assistance of medical and non-medical contractors to carry out their job duties. Protect your business from any mistakes or accidents that arise from the actions or inactions of these individuals with our independent medical and non-medical contractors’ coverage.
- Medical Director’s Coverage – Medical directors perform a wide spectrum of job duties, including administrative work to direct patient care. Medical directors’ coverage can provide protection to match each of these professional duties and ensure any damages arising from the performance of these duties is insured.
- Administrative Defense Coverage Endorsements – This type of protection is especially useful when defending HIPAA compliance and HIPAA violation claims. Being accused of a HIPAA violation can be extremely detrimental to your business and reputation, so it is important to make sure you are fully equipped with the resources to cover those losses.
- Data Breach – Unfortunately, healthcare facilities, including home health care providers, are often the target of hackers and people looking to steal patient data. Data breach coverage can protect your business from damages incurred when such events occur.
- Emergency Evacuation and Management Expense – The best way to deal with an emergency is to plan, and have an insurance policy that will reimburse you for emergencies. Then know that if an emergency arises, you won’t be left with detrimental losses or an enormous bill.
- Public Relations Expense – Your reputation is extremely important in the home healthcare system. If your name has wrongfully received poor media attention or has been accused of another wrongdoing, this coverage can help reestablish your good name.
- Easy Payment and Billing Options – PenEx believes in efficiency and transparency. We offer our clients easy payment options and flexibility with home healthcare insurance billing to best suit their needs.
Who Is Eligible for Professional Liability Insurance For Home Health Care?
- Home healthcare agencies and providers
- VNA or Visiting Nurse Organizations
- Home Infusion service providers
- Hospice service providers and organizations
- Companion care service organizations
- DME and HME providers for non-invasive equipment
- Medical equipment distributors, suppliers, and retailers
- Drug distributors
Ineligible Organizations for Home Health Care Liability Insurance
- Nursing homes
- Correctional health care homes
- Mail order pharmacies
- Durable Medical Equipment Reseller and Repair Shop
- Medical Equipment Manufacturers
- Wholesale compounding risks
- Correctional care staffing and agency
Protect Yourself and Your Patients with Pen-Ex’s Professional Liability Insurance For Home Healthcare Workers
A lot can go wrong in-home healthcare, but with the proper home healthcare insurance coverage plans in place, you can rest assured that you’ll be protected, and your business won’t be lost. Contact us today to discuss our coverage options further and develop an insurance plan that will offer you the best protection for an affordable price.