When you operate a home healthcare organization, having the right insurance is important to protect yourself and your business. Knowing how to choose the right specialty insurance policy ensures that you have the coverage you require.
Professional Liability Insurance
No matter what business you are in, you have to carry professional liability insurance. This is important because if someone files a lawsuit against your business, this type of policy helps to protect you. When you are looking at the different policy options, you have to consider the status of your employees. If they are contractors, they will need to get their own liability insurance. However, if they are direct hires, you could be responsible for any legal issues that might involve them and something they did on the job.
The Limitations of Your Insurance
No insurance policy can cover everything, so there are some exclusions to know about. Common exclusions for these types of policies include issues that occur outside the business, criminal charges and intentional acts. These are viewed in a different way and have a set of consequences separate from what your insurance company is able to cover.
Now you better understand how to choose a specialty insurance policy. This will go a long way in helping to keep your business protected in the event something happens.