As businesses in the healthcare industry, home health care agencies are subject to a variety of risks and liabilities. Whether or not to get home health care business insurance should be a relatively simple decision, especially when taking the sheer number of potential risk factors into account. The harder decision is choosing the kind of coverage packages available. Most packages are tailored to specific types of home health care agencies while others may differ based on the kind of coverage offered.
Identifying the Type of Health Care Agency You Own
The term health care agencies often include the following:
- Home Health Aides
- Home Health Care
The amount and type of coverage you need depends on the kind of business you have. For example, agencies that are more oriented towards private patient care should focus on coverage that covers damages incurred on private property.
Understanding the Different Types of Coverage Available
Traditional options such as general liability and professional insurance are usually offered. Other types of home health care business insurance include:
- Worker’s Compensation
- Hired and Business Owned Automobile Insurance
- Employment Practice Liability
- Cyber Crime
- Sexual Harassment and Abuse
These are only a few of the options available, but most packages offered from insurance companies will focus on one or two of these areas.
Understanding your home health care business includes being able to predict what kind of coverage is needed. Once you have that information in mind, you can make an informed and beneficial decision for your business.