As with other businesses, Residential Care Facilities for the Elderly (RCFEs) look to obtain workers compensation insurance policies to help safeguard employee health and wellness when they sustain injuries or become ill while working. Such policies often include a number of important benefits in numerous areas like assistance with medical costs, work-related rehabilitation expenses, and wage replacement to help make up for lost wages for time not worked. Many states, California included, legally require businesses to have acceptable workers compensation insurance in order to operate. As there are different policies and policy providers out there, it’s vital to find the right insurance brokerage to work with that can provide you with what you need at a reasonable cost. If you own or operate an RCFE and are looking to acquire workers compensation insurance for your facility, read on for some valuable tips.
Get A Basic Understanding of What RCFE Workers Compensation Insurance Does & Does Not Cover
Before working on finding an insurance provider, it is worthwhile to have at least an elementary understanding of what policies will, and will not, cover. As mentioned above, workers compensation insurance is generally involved in protecting and supporting employees when injuries happen on the job. The policies are thought of as a no-fault system, and provide financial payments for injury-related expenses. A majority of policies available will help compensate for income loss, medical & rehabilitation expenses, required retraining, and death benefits for employees’ families.
There are particular situations where workers compensation insurance is unable to protect RCFEs or RCFE employees from being held legally liable for workplace injuries. These situations of non-coverage often involve negligence of some kind, but can also include instances of lawbreaking, injuries not tied to workplace activities, and incidents found to be connected with employee alcohol or drug use.
Reach Out To Other RCFE Owners & Managers
When searching for quality workers compensation insurance for your RCFE, it is worthwhile to speak with any other RCFE owners or managers you know and trust for recommendations. In doing so, you can get a clear sense of which insurance brokers others chose as well as their experiences with those brokers. You could also try contacting anyone else you know in the elderly healthcare space to see if they might know of some good options. Once you have a list together of recommended providers, you can reach out to them to discuss your needs and pinpoint the right fit.
Carefully Search Online & Evaluate Websites You Find
If you are unable to get any recommendations from those you know in the industry, another way to find RCFE workers compensation insurance providers is to use search engines like Google or Bing. Searching for terms like “RCFE workers compensation insurance” or “assisted living workers compensation insurance” will provide results that you can then further investigate. With any direct insurance provider websites you find, take the time to explore the content in detail and get a sense of whether the company may be a good choice. You can then contact these insurance providers by website form or phone to set up a consultation and receive a no-obligation quote. While searching online, you may also find industry-related sites that provide their own recommendations on potential insurance providers to contact.
Choose An Insurance Provider with Experience and Industry Knowledge
When speaking with insurance providers, be sure to inquire about how long they’ve been working with RCFEs and try to get a feel for how knowledgeable they are about the industry. Ultimately you want to work with a broker that has already helped a number of RCFEs and demonstrates a clear understanding of what workers compensation policies you will need to succeed. Finding an insurance broker that you can truly trust to help protect your RCFE can provide much needed peace of mind.
Compare Insurance Quotes & Make Your Selection
If at all possible, get insurance quotes from a number of brokers you’re considering and compare them. This can help indicate which quotes may be unreasonably high, allowing you to select from the other available options. Drawing on all that you learn about the providers and their policies, you can then make an informed decision on which company to proceed with.
InsureMyRCFE is a Top Provider of Workers Compensation Insurance for RCFEs
InsureMyRCFE has emerged as a top choice for RCFE workers compensation insurance, offering comprehensive and cost-effective policies that will help protect your facility and employees. In fact, we have a unique Workers Compensation Program that is special in that it has incredible features not found with other providers. Among the numerous benefits of this exclusive program is our Risk Management Services that assist in diminishing the chance of workplace injuries. Whereas comparable services from other brokers can cost thousands of dollars, InsureMyRCFE is able to offer them to our clients for much less.
Our team has provided RCFE workers compensation insurance coverage for many satisfied clients over the years, exceeding even the highest of expectations. Our brokers have a firm grasp of underwriting requirements, and can assist in determining the best rates and payment options available that also offer as much flexibility as possible. We are confident that you will not find a better RCFE insurance broker out there, and would appreciate the opportunity to speak with you directly about your facility’s needs. Please don’t hesitate to give us a call today at (805) 413-5668.
