what is the cost of professional liability insurance for an independent caregiver?
Location: California
Care provided is non-skilled/ custodial only.
The care receiver is my domestic partner.
Long term care policy says I must have professional liability insurance "to protect the care receiver from any injuries sustained due to care provided".
Both our names are on our homeowners policy – which has a $2 M personal umbrella policy (apparently not adequate)
Personal umbrella, or homeowners, won’t cover any business pursuits – including professional liability. So it doesn’t matter WHAT the limit is, it’s not covered. Also, as you’re both named insureds, it won’t cover one of you, if the other one of you is being sued (or in your case, if your partner dies, and their child/parent/sibling/legal next of kin blood relative sues you on behalf of your partner’s estate), the homeowners and umbrella policy ALSO won’t protect you. So think about that.
What type of medical license do you have? If you aren’t at least an LPN, you’re not going to get the liability coverage. It’s basically medical malpractice. If you don’t have the LICENSE to practice, you can’t get the insurance, that covers if you mess up.
AND, you’ll also have to have general liability coverage (another business coverage). My guestimate on the cost for both of these is $2500 a year, assuming you’re the only employee.
Related Blogs
- Understand the Exclusions of Your General Liability Insurance Policy – Don't Be Left Uncovered | Best Financial Advice – Financial Planning | IXGW.com
- Personal Umbrella Protection – Added Protection For Extraordinary Circumstances
Filed under: Professional Liability Insurance
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Personal umbrella, or homeowners, won’t cover any business pursuits – including professional liability. So it doesn’t matter WHAT the limit is, it’s not covered. Also, as you’re both named insureds, it won’t cover one of you, if the other one of you is being sued (or in your case, if your partner dies, and their child/parent/sibling/legal next of kin blood relative sues you on behalf of your partner’s estate), the homeowners and umbrella policy ALSO won’t protect you. So think about that.
What type of medical license do you have? If you aren’t at least an LPN, you’re not going to get the liability coverage. It’s basically medical malpractice. If you don’t have the LICENSE to practice, you can’t get the insurance, that covers if you mess up.
AND, you’ll also have to have general liability coverage (another business coverage). My guestimate on the cost for both of these is $2500 a year, assuming you’re the only employee.
References :
agent, 21+ years
with apologies to the grammar police for that first paragraph.