Choosing an insurance company to protect you and your business can feel overwhelming. There are a multitude of companies on the market, they all want your business, and it can be difficult to distinguish amongst them.
When buying caregiver business insurance, it can be helpful to follow these guidelines to ensure you select the best insurance partner:
- Explore your insurance partner options
- Determine the company’s carriers and their ratings
- Learn about their expertise insuring companion care businesses
- Look for trusted reviews
How to Pick a Business Insurance Partner
Not all insurance companies are the same. When researching your coverage, you will likely come across an assortment of potential partners. Before you choose, it can be helpful to research top contenders. Make note of:
- Available policies and limits
- Their expertise in your field
- Ease of use of their website
- Responsiveness of their customer service
- Additional insured benefits like risk management resources
Lockton Affinity Home Care difference: Founded in 1987, Lockton Affinity has become one of the leading national insurance brokers. We partner with a variety of highly rated carriers so we can shop around for the best possible coverage for our customers.
How to Pick a Business Insurance Partner — Insurance Provider
Before choosing an agent or a broker, it is important to examine their insurance provider partners as well. Insurance providers issue the actual insurance policy, charge the premium and pay for losses in the event of a covered claim. The insurance provider of your policy bears the financial risk of issuing you a policy, so it’s important to make sure they’re dependable.
You can learn about an insurance provider’s finances by checking their A.M. Best Company rating, a global credit rating agency that is the “gold standard” in the insurance industry. A.M. Best’s letter-grade rating gives you an independent opinion of the insurance provider’s ability to meet ongoing policy and contract obligations, while its financial size categorization tells you the size of an insurance provider’s policyholder surplus.
Lockton Affinity Home Care difference: Lockton Affinity Home Care teamed up with Zurich, an A+ rated insurance provider, to service companion care businesses like you. You cannot get Zurich’s tailored home care policies anywhere else on the market.
How to Pick a Business Insurance Partner — Industry Expertise
In addition to researching agents, brokers and carriers, it can be beneficial to look into a company’s experience insuring companion care businesses. If an insurance company has worked with companion care businesses before, they’ll have an idea of:
- The types of policies you need
- Industry insurance requirements
- Various limit options that may be beneficial
- How to assist with claims
- Risk management resources to share and more
If the insurance agent or insurance company does not have experience insuring companion care businesses, your insurance coverage may not be sufficient.
Lockton Affinity Home Care difference: We have been meeting the insurance needs of companion care businesses for more than a decade. With this experience, our customer service representatives have the knowledge to guide your insurance experience from purchasing coverage to renewals to filing a claim.
How to Pick a Business Insurance Partner — Trusted Reviews
Talk to your fellow home care business owners. Perhaps another franchise had a favorable experience with one insurance company but a terrible experience with another. Perhaps a former mentor has a recommendation.
It may also be beneficial to see if trusted industry leaders have a preferred partner. Check with industry organizations, magazines, journals and more.
Lockton Affinity Home Care’s difference: We have endorsements from several national franchise systems, plus happy clients who operate their own companion care businesses. Consider these reviews:
- “As a new small business owner in the home care business, I was happy to find Lockton Affinity, a one stop shop that supports all my business insurance needs, including those insurance needs that are specific to the home care industry. Lockton also provides the highest level of customer service.”
— Viking Dietrich, Griswold Home Care of West Houston
- “[My Lockton Affinity Home Care account manager] consistently provides outstanding support marked by quick responses and quality service. Her proactive approach has provided options I didn’t expect and has ensured I get the best value for my coverage”
— Stephen Davis, Home Helpers In-Home Care
Trust Lockton Affinity Home Care with Your Business Insurance Needs
As one of the nation’s leading insurance administrators and the endorsed partner of several national home care organizations, Lockton Affinity Home Care knows the coverage, limits and benefits you need.
Get coverage designed for companion care businesses today at LocktonHomeCare.com.