Iowa Substance Abuse Counseling Insurance Policy Information
Iowa Substance Abuse Counseling Insurance. As an addiction counselor, you are going to deal with all types of people. Some who've been addicts for years, others who simply took a wrong turn and need help getting clean in recent years. Regardless of the type of addiction (drugs or alcohol), level of addiction, and the type of addictive behaviors the individual suffers from, when treating these addictions as a counselor, you will find more than one method in helping them treat that addiction.
Like a doctor possesses insurance for malpractice claims, it is also important to ensure you have a Iowa substance abuse counseling insurance policy in place to protect yourself from such malpractice liability claims. Apart from this, there are other forms of insurance you can add onto your substance abuse counseling insurance policy, to further protect yourself from liability, lawsuits, and potentially losing your business/license, because of a few disgruntled former patients you might have treated.
Iowa substance abuse counseling insurance protects your practice from lawsuits with rates as low as $27/mo. Get a fast quote and your certificate of insurance now.
Why Do Substance Abuse Counselors Need Business Insurance?
Anyone who provides a service to others runs the risk of personal injury or financial loss to others; the field of substance abuse counseling is not exempt. In fact, it may even be more risky for substance abuse counselors. Carrying a Iowa substance abuse counseling insurance policy is a smart way of protecting your practice from claims related to your services.
How Does Substance Abuse Counselors Insurance Protects My Practice?
Protect From Malpractice Claims - If you are helping one person who simply can't get clean, relapses, or deals with addictive issues again in the future, they are going to try to sue you for improperly diagnosing or assisting them. This is where a malpractice claim can hinder your practice, or can ruin your reputation as a licensed counselor.
With malpractice insurance in place (commonly know as professional liability and errors and omissions (E&O)), you can shield yourself from these frivolous claims. There is no way to help each person who suffers with addiction. And, even with the best guidance and counseling, some will relapse, and turn back to a life of drugs and addiction. With professional liability insurance in place, you shield your practice from such liability claims.
Libel/Slander Claims - If a patient (or former patient) is unhappy with treatment, relapses, or has issues in the future, they might speak negatively against your practice. They might make false claims or accusations. With this addition to your liability insurance policy, you can shield your practice from these accusations, false claims, and protect your good name as a counselor or therapist. Not only to ensure your practice doesn't have problems getting new patients in the future, but also to avoid financial loss typically tied to slander claims.
General Liability - General liability coverage is also available when choosing a Iowa substance abuse counseling insurance policy. Bodily injury, property damage, or other claims which arise during the course of practice, can all be protected. This means if a patient gets hurt on the premises, or if other issues arise in your office/building, you are protected, and won't have to pay these out of pocket expenses which can be rather costly in certain instances.
Defense Costs - If you are sued, certain Iowa substance abuse counseling insurance policies will pay for defense cases in the event you need to hire a IA lawyer. Not only for the work they perform, but also in the event the case goes to trial, you are going to be protected for a certain amount (depending on your policy limits), if you are sued by a former patient, and must go to court, mediation, or other hearings, and need to hire a lawyer to defend your practice.
Damage To Business Property - Keep in mind that when it comes to addiction, you have certain patients who might be dangerous, or hostile. If they damage property, your office, equipment, or other items (or if a supplier or visitor damages property), you can also purchase an insurance policy which will pay for IA property damage. When comparing insurance providers, as well as the levels of coverage you can choose from, many insurers are going to offer this form of coverage for Iowa substance abuse counseling insurance policies, which you can add on to your general liability coverage as a counselor.
IA Substance Abuse Counseling Insurance
There are several different options as it pertains to your Iowa substance abuse counseling insurance policy as a counselor. And, when dealing with certain types of patients, who suffer from drug or alcohol addiction, you never know what you will come across, or what the individual might be thinking when they visit your offices for help. For this reason you need to shield yourself and practice from liability. When choosing your substance abuse counseling insurance policy, these are a few options to consider, and some of the best ways in which you can protect your name, your practice, and protect yourself from financial distress in the event of a lawsuit.
Iowa Economic Data, Regulations & Limits On Business Insurance
Business-minded individuals who are thinking about starting up a new venture need to ensure that they choose a location for their operation that will allow them to achieve success. It's vital that the place you select for your organization offers a market that will respond to the products and services you offer, otherwise your efforts will be for naught.
If you are considering the state of Iowa as the home base for your business or as a new location for a branch of your company, being aware of the economic trends in the state are crucial. Furthermore, knowing what type of commercial insurance you need to carry is also vital for your success. Below, we offer a brief overview of both the economic trends for the state of IA, as well as what type of commercial insurance business owners need to carry in the state.
Economic Trends For Businesses In Iowa
The state of Iowa has experienced positive economic growth in the past few years. As of January, 2019, the unemployment rate in the state was 2.4 percent, a 0.4 decrease from the previous year, when the unemployment rate was 2.8 percent in January of 2018. Compared to the national unemployment rate, which rose to 4.0 percent in January of 2019, it's clear to see that Iowa offers promise for the workforce, as well as business owners. According to the state's Workforce Development, more residents of Iowa are working now than ever before.
While locations throughout the state offer promising opportunities for business owners, Des Moines, in particular, seems to show the most promise, as, according to economists, it's the third best city to start a business in the United States. Economists also suggest that areas surrounding the city of Des Moines also offer great potential for business development.
Several industries are seeing growth in The Hawkeye State, and are expected to continue to see growth throughout the 2019 calendar year. These industries include:
- Agriculture and food production
- Information and communication technology
- Renewable energy and fuels
- Warehousing and distribution
IA Commercial Insurance Regulations And Limits
The Iowa Insurance Division regulates insurance in the IA. As with every other state in the country, business owners in Iowa are legally required to have certain types of commercial insurance.
In IA, any business that has one or more employees must carry workers' compensation insurance, which provides coverage for workplace-related injuries and illnesses that employees may sustain.
Additional Resources For Medical Insurance
Discover small business insurance for medical and dental professionals. Medical malpractice insurance is a type of professional liability that protects health care professionals from liability causing in bodily injury, medical expenses and property damage.
- Ambulatory Surgical Center
- Art Therapy
- Assisted Living Facilities
- Dental Lab
- Dental Office
- Diagnostic Imaging Centers
- Healthcare Facilities
- Home Medical Equipment Dealers
- Marriage & Family Therapy
- Medical Laboratories
- Medical Marijuana Dispensary
- Medical Practice
- Mental Health Counseling
- Occupational Therapy
- Physicians Office
- Skilled Nursing Facilities
- Speech Therapy
- Substance Abuse Counseling
Health care providers are the most trusted individuals in our society. Ironically, they are the same ones who can do the greatest harm. They actually have the right to invade our bodies with knives and to poison us with chemicals - all in the name of health care and with the goal of relieving our symptoms and hopefully bringing about a cure.
While the actions of these professionals normally benefit us, insurance coverage must be available for the times when mistakes happen and things go wrong. These professionals and their facilities have extensive property exposures that are becoming more and more intricate and whose values are increasing exponentially.
The 'one size fits all' approach that once could have applied to insurance for health care providers and their facilities no longer applies.
Professional liability offers protection against claims of malpractice for all sums that the medical professional becomes legally obligated to pay as damages because of rendering or failing to render professional services.
Professional and medical malpractice exposures are the most expensive and difficult of all exposures for health care providers. The commercial general liability policy excludes these exposures so separate coverage is needed. Most professional liability policies are written on a claims-made basis and, as a result, tail coverage and retroactive dates are important coverage issues to be aware of when evaluating the insured’s coverage needs and comparing coverages.
The coverage provided is often called medical malpractice. For decades, many involved in the health care field and insurance companies that provide insurance coverage to providers have stated that malpractice lawsuits have created an ongoing crisis of restricting insurance availability, due to loss of insurance companies that write the coverage and significant rate increases.
As a result, state legislatures have taken the following actions to address the situation:
Imposed a dollar limitation of liability for malpractice suits.
Modified statutes of limitation to limit the number of years that a suit may be brought against a physician following a negligent act.
Modified when the statute of limitations takes effect. An example is beginning from a negligent act's occurrence rather than from its discovery.
Passed laws to modify tort law procedures and doctrines that relate to malpractice.
Because of differences in law by state it is important to know the states in which the covered health care providers are licensed and regularly practice. Some health care providers may practice in multiple states because of their particular specialty, their reputation or the demand for their services. Some hospitals may have ownership in facilities or provide services to patients that are outside of their main location state.
Minimum recommended small business insurance coverage: Business Personal Property, Business Income and Extra Expense, Employee Dishonesty, Money and Securities, Accounts Receivable, Computers, Physicians and Surgeons Floater, Valuable Papers and Records, General Liability, Employee Benefits, Professional, Umbrella, Hired and Non-owned Auto & Workers Compensation.
Other commercial insurance policies to consider: Building, Earthquake, Equipment Breakdown, Flood, Leasehold Interest, Real Property Legal Liability, Computer Fraud, Forgery, Cyber Liability, Employment-related Practices, Business Automobile Liability and Physical Damage and Stop Gap Liability.
Request a free Iowa Substance Abuse Counseling insurance quote in Adel, Algona, Altoona, Ames, Anamosa, Ankeny, Asbury, Atlantic, Bettendorf, Bondurant, Boone, Burlington, Camanche, Carlisle, Carroll, Cedar Falls, Cedar Rapids, Centerville, Chariton, Charles City, Cherokee, Clarinda, Clear Lake, Clinton, Clive, Coralville, Council Bluffs, Creston, Davenport, DeWitt, Decorah, Denison, Des Moines, Dubuque, Dyersville, Eldridge, Estherville, Evansdale, Fairfield, Forest City, Fort Dodge, Fort Madison, Glenwood, Grimes, Grinnell, Hampton, Harlan, Hiawatha, Humboldt, Independence, Indianola, Iowa City, Iowa Falls, Jefferson, Johnston, Keokuk, Knoxville, Le Claire, Le Mars, Manchester, Maquoketa, Marion, Marshalltown, Mason City, Monticello, Mount Pleasant, Mount Vernon, Muscatine, Nevada, Newton, North Liberty, Norwalk, Oelwein, Orange City, Osceola, Oskaloosa, Ottumwa, Pella, Perry, Pleasant Hill, Polk City, Red Oak, Sergeant Bluff, Sheldon, Shenandoah, Sioux Center, Sioux City, Spencer, Spirit Lake, Storm Lake, Urbandale, Vinton, Washington, Waterloo, Waukee, Waverly, Webster City, West Des Moines, Windsor Heights, Winterset and all other cities in IA - The Hawkeye State.
Also learn about Iowa small business insurance requirements for general liability, business property, commercial auto & workers compensation including IA business insurance costs. Call us (515) 207-7253.