Property Insurance for Missouri Home Care Agencies
Many of our Missouri clients start by running the agency from home. As they grow, they may lease an office in St. Louis, Kansas City, Springfield or Columbia, and some go on to buy a building and lease it back to the agency.
Chamberlin & Reinheimer adjusts your coverage as the business grows.
Business Personal Property covers company property at the locations listed on the policy and in transit: office furniture, phone systems, computers, and copier, fax and scanning equipment. If any of it is leased, the lease usually requires you to insure it.
Building Coverage covers a building the agency owns. If the owner, or the owner's real estate company, holds the building and rents it to the agency, the building coverage should be written in that owner's or company's name.
Business Income / Extra Expense covers lost income and added costs if a fire damages the agency's office.
For most home care agencies, lost income is not the bigger risk. The work happens in the field, so after a loss you mainly need new space to rent. What matters more is an offsite backup of your systems, so staff files, operating records and client electronic medical records can be restored. Extra Expense pays for that recovery and helps prevent a gap in coverage.
Agencies with a Medicaid contract have a specific reason to care. MMAC requires in-home providers to keep participant and personnel records in a central location for five years, ready for inspection, and to notify MMAC of any change in office location. A fire that destroys those records, or forces a move, becomes a contract issue as well as an insurance one.
Frequently Asked Questions
What does Business Personal Property cover for a Missouri agency?
Office furniture, phone systems, computers, and copier, fax and scanning equipment at the Missouri locations on your policy and in transit.
What is Business Income / Extra Expense?
Coverage for lost income and added costs when a fire or other covered event damages your office, including temporary space and restoring data from offsite backups.