How this Massachusetts Insurance Policy Works
The home healthcare industry incorporates many aspects of other small businesses. Providing personal care & medical treatment, transporting goods, and entering other people’s homes all present with specific insurance risks. Trying to fully insure a home healthcare company can be complex, requiring a wide range of insurance policies to cover exposures from many directions. Home health care insurance can link together all of the important policies you need to protect your business.
Home Health Care Insurance Risks
Home health care companies face many diverse risks. Due to the nature of the business, you could be dealing with:
- Auto accidents, including injuries and damages
- Damage to expensive equipment in transit or at a patient’s home
- Causing damage to the patient’s personal belongings or home
- Being accused of negligence in patient care
- Being accused of abuse, molestation, or sexual misconduct
These are just some of the types of losses that home healthcare companies in Massachusetts face on a regular basis.
Any of these situations, even if they are unfounded accusations, can seriously cripple your business. Defense costs, court fees, damages, and other costs can harm your finances and take months to resolve. Without insurance, a single lawsuit could be enough to close you down.
Massachusetts Policies
Because a home healthcare company has a broad range of risks, you need a broad range of insurance coverage. Home healthcare package policies can combine the coverages you need most in a single, comprehensive package. Your coverage may include:
These policies are often considered core coverages, as they are required by most home healthcare companies. You may want to tailor your coverage with additional insurance, such as:
- Emergency Event Management Coverage
- Sexual Misconduct, Molestation, and Abuse Coverage
- Medical Director’s Coverage
- Independent Contractors Insurance for both Medical and Non-Medical Providers
- Cyber Insurance
- Administrative Defense Coverage, for third-party investigations
- Employment Practices Liability Coverage
Your insurance agent can help decide which types of coverage are most appropriate for your particular company.
Home healthcare companies provide important services to patients, allowing them to receive ongoing medical and therapy treatments in their homes. While providing this beneficial care, home healthcare providers are at a great risk for being sued for damages, injuries, and other losses. Due to the wide range of risks, it can be difficult to full insure a Massachusetts home healthcare company. With home health care insurance, you can have comprehensive coverage for the many situations that could arise.
