Home health care involves a number of health care services performed in a patient's home to treat illnesses and injuries. In the US, health care services in a home setting have seen a surge in demand in the wake of the Covid-19 pandemic.
If you are a home health care services provider, you may already be aware that providing care to individuals in their own homes exposes you to more risks than attending to people in a hospital or any medical facility.
This means that you need home health care insurance to protect you, your Colorado business, and your workers from different risks – known and unknown – as the cost of a single claim could shut your business down in a matter of months.
Businesses Eligible for Home Health Care Insurance
The home health care industry spans businesses and agencies offering different support services. These include:
Types of Coverage a Home Health Care Business Needs
There are many insurance policies that you should purchase for your home health care agency. A robust insurance coverage ensures every aspect of your business operations is sufficiently protected.
Professional liability insurance
Designed to cover you and your company against claims of negligence or mistakes in the course of providing professional services, e.g., giving the wrong medication.
General liability insurance
Pays for third-party bodily injury or property damage not related to professional duties, e.g., if your worker broke a collectible item in the client’s home or left something that injured the patient.
Workers’ compensation insurance
This is mandatory for all businesses in Colorado. The policy takes care of your health care workers’ injuries while managing their patients or illnesses associated with the performance of their duties.
Commercial auto insurance
Provides protection if your business vehicle is involved in a collision. It pays for third-party medical bills and repairs. You can add collision coverage to reimburse the medical fees of your driver or the repair expenses of your vehicle.
Depending on the services you offer, there are other policies that you can include to reduce risks and costs. These are:
Talk to Independent Insurance Agents
Whether you’re opening a home health care business in Colorado or updating your existing policy, we can tailor your coverage. Request a quote online now.