Frequently Asked Questions About
Commercial General Liability Insurance
How much does commercial insurance cost?
Costs can vary widely based on industry and are also determined by zip code and often payroll and/or gross sales. Request a free quote to get an exact number.
What kind of business insurance do I need?
Most business owners need General Liability Insurance at the very least. If you have any non-owner employees, you will need workers compensation insurance too.
What is a Certificate of Insurance?
A Certificate of Insurance is proof of coverage. It lists the type and amount of liability coverage you have and other policy information when a third party requests it.
Is business insurance tax deductible?
Yes. you can deduct the cost of commercial insurance premiums. The IRS considers insurance a cost of doing business as long it benefits the business & serves a business purpose.
Occupational Therapy Insurance California
Occupational Therapy Insurance California. As an occupational therapist, your job involves working with patients to treat physical and mental developmental conditions in an effort to improve quality of life and in particular their daily living and working skills. Through your guidance, patients with chronic disabilities are able to incorporate adaptive equipment (wheelchairs, eating aids, leg and knee braces, etc.) into their daily routine and gain some measure of control over their lives and become productive people.
But even with the best training and experience, it is possible for occupational therapists to make mistakes with diagnosis or treatment of developmental problems and because their advice carries such weight in determining the patient's daily life, the issue of insurance cannot be ignored. If for instance, a patient has an accident because you recommended the wrong equipment; your practice may be sued for malpractice. Without sufficient occupational therapy insurance California coverage, a successful case could be devastating to your business.
Occupational therapy insurance California protects your practice from lawsuits with rates as low as $37/mo. Get a fast quote and your certificate of insurance now.
Types Of Insurance For Occupational Therapists
With the right business protection plan, you won't have to dig into your own finances to cover the cost of a lawsuit. As an CA occupational therapist, the following occupational therapy insurance California packages will prove vital for the fortification and sustenance and of your practice - particularly when faced with a lawsuit:
Commercial General Liability Insurance: General liability can provide occupational therapy insurance California coverage for the following:
- Bodily Injury Claims: A claim may be filed by a client that slips and falls in your office.
- Property Damage Claim: This provides coverage for property belonging to a third party (such as one of your clients) if damaged.
- Personal and Advertising Injury Claims: If your business causes indirect harm to a person or another business by means of promotional content, or if you are accused of libel, slander, or copyright infringement, this package provides coverage.
- Medical Expenses Claims: If any of your workers or clients undergoes treatment for injuries suffered at your premises, then the business will have to clear the medical bills. General Liability policies provide coverage for immediate medical bills as well as any additional medical expenses.
Worker's Compensation Insurance: Aside from the typical work-related accident, your business could use coverage for employee ailments, lost wages, attorney fees, court expenses, settlements, etc.
The majority of states require businesses to carry worker's compensation insurance for any non-owner employees and CA workers comp is often contractually required.
Business Property Insurance: Your business needs coverage for expensive medical equipment, office space, supplies, etc. This occupational therapy insurance California policy offers coverage against incidents of theft, vandalism, fire, and a range of scenarios that pose a threat to your business. Other items that may be covered include computers, phone systems, video systems, office furniture, etc.
Cyber Liability Insurance: Since much of your office data is saved on hard drives and online storage services, there should be a plan to handle security vulnerabilities in the IT infrastructure. Cyber Liability Insurance protects your business from the cost of lawsuits when your systems are compromised. This occupational therapy insurance California policy can cover the following:
- Cyber extortion
- Customer notification
- Credit-monitoring service
- Good-faith advertising
Malpractice Insurance: Patients are not always satisfied by the level of treatment offered by qualified medical personnel. Because of this, your business may face a lawsuit for medical advice or treatment that may have contributed to additional pain or discomfort for the patient.
Malpractice insurance for OTs is also known as professional liability and errors and omissions insurance (E and O), and it covers occupational therapists from negligence such as; if a patient suffers significant burns from hot packs and electrical stimulation during treatment. Keep in mind that relying on occupational therapy insurance California does not indicate that a health professional made the wrong diagnosis; it could be filed simply because a patient fails to improve under your care. CA malpractice provides coverage for:
- Professional negligence
- Provision of substandard services
- Failure to meet industry standards
- Misrepresentation of your services
CA Occupational Therapy Insurance
All these scenarios demand significant funds to clear outstanding lawsuit costs and compensation of workers, clients, or other parties. Purchase CA occupational therapy insurance to protect your practice.
California Economic Data, Regulations & Limits On Commercial Insurance
If you are an entrepreneur and you considering having your operations located in California, it's essential that you have a full understanding about the economy of the state, as well as the regulations and limits that are in place for commercial insurance.
If you are considering opening up a business in the Lone Star State, you first want to make sure that it is a sound location for your operations. That means that you should understand some key information related to the state's economy, as well as the types of insurance coverages that businesses are legally required to carry.
Economic Trends For Businesses In California
In terms of job creation, the state of California exceeds rate of job growth in the United States; however, as the state's metropolitan areas are reaching employment capacity, job growth is starting to slow. In 2017, the rate of growth was 2.1 percent, which is the slowest rate of growth since 2011; but it is still expected to increase by 1.8 percent by the end of 2018, and 1.2 percent by the end of 2018.
In the month of April, the unemployment rate in California dropped to 4.2 percent, which is a record low. This unemployment rate is expected to remain consistent for the rest of the calendar year; however, it's forecasted that the rate will start to increase in 2018.
The strongest labor market in the state is in the Bay Area, where the unemployment rate was 3.4 percent in 2017. Southern California follows, with an unemployment rate of 4.5 percent in 2017. In the Central Coast region, the rate was 5.4 percent and in the Central Valley, it was 6.6 percent. While the unemployment rate is considered high in these areas, they have decreased dramatically over the last 12 month period.
The industries that are expected to see the most growth in CA include:
- Information Technology
CA Commercial Insurance Regulations And Limits
The California Department of Insurance regulates insurance in the Golden State. In the state of CA, commercial liability insurance is not required; however, since the state does not cap rewards for liability law suits, business owners are wise to invest in this type of coverage. The amount of coverage recommended varies depending on the size of the business and in the industry.
Workers' compensation insurance is the only type of coverage that business owners are required to have. This applies to any organization that employs a salaried or hourly staff, even if that staff only consists of one employee. Furthermore, if an employee is injured or becomes ill as a result of work, business owners must pay for CA workers' comp benefits.
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
- 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
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.
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.
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