Get a Personal Support Worker Insurance Quote

What is personal support worker (PSW) insurance?

As the name implies, it is insurance designed specifically for personal support workers (or PSWs) – medical professionals, such as yourself, who assist the elderly, disabled and chronically ill in their daily activities. Though there are certainly more dangerous jobs out there, PSWs still face risks, including lawsuits, injuries and personal property damage. Insurance is here to help you mitigate any potential financial losses incurred by such risks, so you can go about your business as usual.

Who needs personal support worker (PSW) insurance?

If you’re a PSW, then you might need personal support worker insurance – even if you already have it (since you could always shop around for better coverage and premium). It doesn’t matter if you work independently or through an agency or a healthcare provider, having no insurance can leave you in a bad place, financially – possibly through no fault of your own.

And while it’s true that most employers will provide you with insurance, many of their coverages are limited and may not suit your needs. If your employer does provide you with insurance, we recommend comparing your coverage offered by other providers, which you can do quickly online here on RATESDOTCA.

What does personal support worker (PSW) insurance cover?

With personal support worker insurance, you should be covered for the following:

• Medical malpractice/professional liability:  If your client accuses you of negligence, mistakes, misconduct and similar professional mishaps, your insurance can provide you with the necessary coverage to handle the legal consequences of such accusations. No one in this field wants to be accused of malpractice, but if you do, it’s better to be protected than not.
• General liability: This will cover you in the event of third-party bodily injury or property damage because of your work. For example, while helping your client move from spot to another, you might accidentally break something in their home (e.g. a vase).
• Contents insurance: If any equipment or belongings that you use at work get damaged, you will get compensated.

What insurance coverage add-ons are recommended for PSWs?

Your standard policy won’t protect you from every professional risk out there. That said, if you feel like you need more protections, you can enhance your policy with the following:

• Cyber liability: Covers data breaches and cyber-attacks, which is crucial if you handle sensitive client information electronically.
• Legal expense insurance: Helps cover legal costs not included in standard liability policies. For example, if you’re seeking advice from an experienced lawyer regarding a specific issue, such as a contract dispute, this would cover it.
• Identity theft coverage: Given how often PSWs handle personal information, it’s vital that in the event of identity theft you recover quickly, so your clients are protected as well.

How much does personal support worker (PSW) insurance cost in Canada?

There is no definitive insurance premium that applies to all PSWs. There are several individual factors that come into effect, such as your revenue, experience and claims history. Typically, a microbusiness – one- or two-people operation – will have a premium of below $2,500 per year. Most PSWs would probably pay from $400 to $1,000 – though this would depend heavily on your individual factors.

What factors determine the cost of personal support worker (PSW) insurance rates?

So, what are the individual factors that influence your personal support worker insurance. Some of the most important ones are:

• Revenue: How much money are you making as a PSW? Insurers look at the number to determine how much of a risk you are. Usually, the more you make, the more your premiums will be.
• Experience and qualifications: If you’re one of the more experienced and qualified PSWs, you may receive a lower rate due to a reduced risk of claims. This is similar to auto insurance, which offers lower rates to more experienced drivers.
• Work environment: The type of clients you work with and the settings you operate in can impact your premiums. If the kind of clients you serve are more likely to get hurt, for example, then your premiums will be higher.
• Claims history: A clean claims history often results in lower rates, while previous claims can increase your premiums. Filing a claim means that, statistically, you’re more likely to file another one in the future.

How does personal support worker (PSW) insurance work?

Personal support worker insurance works by providing financial protection against covered risks. When you purchase a policy, you pay a premium to the insurance provider. In return, they agree to cover specific types of claims up to the limits defined in your policy.

If an incident occurs, you file a claim with your insurance provider. They will assess the claim and determine if it's covered under your policy. If approved, they will handle legal fees, settlements, and other related costs, reducing the financial burden on you.

How to get the cheapest personal support worker (PSW) insurance quote

Getting the best quote for personal support worker insurance involves several steps:

1. Shop around: Compare quotes from multiple insurance providers to find the most competitive rates.
2. Bundle policies: If you have other insurance needs, bundling policies with one provider can lead to discounts.
3. Improve your risk profile: Demonstrating a good track record and investing in safety measures can help lower premiums.
   
   For example, maintaining thorough documentation of your work and attending additional training courses can improve your risk profile, potentially reducing your insurance costs.