Business Insurance For Care Homes

Caring for the elderly is a job that requires patience and a complete understanding of individual circumstances while caring for them in every possible way.

Patients come to your care home at a stage of their life when they are frail, confused and ill and you therefore have to work compassionately but professionally. Caring for people in this way leaves you exposed to risks because errors can occur and this is where a client could submit a claim against you. Failing to recognise the needs of an individuals can cause severe problems for them, as can unsafe equipment or incorrect advice. If your patients experience injury or financial loss as a result of your actions, then you could find yourself fighting a claim. Limiting your mistakes and ensuring that your patients are safe is the first step to working correctly but if you find yourself defending a claim you need to ensure that you are protected.

This is where business insurance becomes an invaluable because it will protect your business. Without this insurance your business is exposed and your finances can be damaged but business insurance can protect all of this. A claim can occur at any time and defending them is costly as well as paying compensation but business insurance will cover all costs and this makes business insurance a crucial part of your business.

In your line of work there are many risks because caring for patients means you have to ensure that their needs are met. Occasionally, mistakes happen and a claim is made against you but having business insurance in place will give you complete peace of mind.

Professional indemnity insurance has been created to fit around the needs of your business. It will protect your business and its finances from any claims made against you for negligence, incorrect advice or bad workmanship. If you used a hoist to lift a patient into the bath and it fails, resulting in the patient falling then they or their family could make a claim for compensation. Perhaps a patient may be unwell and does not receive the right treatment from you or action in order to make sure that they are comfortable. If your patients and family feel that you have acted incorrectly they will have the right to make a claim against you as they look to recover any losses or receive compensation.

While patients are in your care you have to ensure that they are safe but having public liability insurance in place protects you from claims made by your patients and visitors to your care home. Patients could trip over damaged carpet or visitors could become injured by equipment left in dangerous areas. These could lead to severe injury and financial loss so ensuring that you have this insurance in place will guarantee financial security for your business.

The following features are associated with business insurance:

• Every claim is covered regardless of the outcome
• All claims are evaluated before payment is released
• Your business will benefit from the correct protection
• Costs associated with defending claims and settling claims are included
• The needs of your business are considered, ensuring you are adequately covered
• Court appearance costs form part of the cover
• Flexible payment plans to fit all budgets

What Are the Benefits?

Business insurance comes with the following benefits:

• Complete compliance with all legal requirements and regulations
• Concentrate on your business needs and not the hassle of dealing with a claim
• Full financial protection
• Advice is available should you require it along with representation
• Have confidence in your business and the way it operates