EPG Insurance – the senior placement experts
We pride ourselves at EPG Insurance as being the senior placement agent insurance specialists throughout the country. In this video and blog, I’m going to share a couple of quick tips with you about the questions we normally receive. It’s important to carry a comprehensive senior placement agent liability insurance policy in order to protect your business and livelihood.
General Liability coverage for placement agents
The first type of liability insurance coverage you’re going to want to carry is general liability. The way that we explain general liability is it’s kind of the foundation that you build the house off of. So you’re going to pour the foundation of general liability, and then from there you add on additional coverages. In an effort to keep things simple, you can think of general liability as bodily injury or property damage, i.e. slip and fall type coverage.
Professional Liability coverage for placement agents
Once you have general liability in place, the next coverage to add is Professional Liability. This is arguably the most important coverage for a placement agent to carry. You can think of your professional liability as being designed to cover placements gone wrong. More often than not, we see placement agents dragged into lawsuits for something a facility did to a resident after the point of placement. Having a good professional liability policy in place provides peace of mind knowing you are protected against these types of claims.
Non-owned auto coverage for placement agents
Another key coverage for placement agents with employees is going to be hired and non-owned auto. This coverage is key for any business with employees because it protects you as the owner if an employee gets into an auto accident in their own vehicle. More often than not, if one of your employees is in a wreck, your business will get dragged into the lawsuit if it occurred during business hours. Non-owned auto coverage helps protect your business and livelihood against situations like this that are out of your control.
Additional coverages available for placement agents
Abuse and molestation coverage is something we recommend every placement agent consider adding to their policy. It is designed to address situations where a client alleges you or one of your employees abused them. Although most placement agents think this would never happen to them, the reality is that you will often be working with Alzheimer’s and dementia clients. Any one on one time with a memory care client can lead to allegations of abuse which then need to be investigated and defended against. When you have this coverage on your policy, the insurance carrier will help defend you with one of their senior living attorneys.
Another important coverage to consider is cyber liability. Due to the large increase in frequency and severity of cyber attacks, we recommend any small business add cyber coverage to their policy. The best part is that it won’t break the bank and is available for a couple hundred dollars per year.
We also have the ability to add crime coverage, owned auto coverage, property coverage and even excess liability over the top of everything, if you need it.
The easiest route to full protection
The best way to really get a good grasp on the insurance that you need is to talk to an expert in the industry who understands senior placement insurance. EPG Insurance has been specializing in this for over eight years and we are more than happy to help walk you through what you should have and the estimated costs. Contact us today to get started on quotes.
