You might make everything look easy, but as a disability carer, you know just how much planning and preparing goes into each and every day. Although insurance might not be at the top of your list of things to think about, sometimes, all it takes is a minor mishap to quickly present some serious problems for your business. Having the right insurance is important to help prevent you from falling into serious financial difficulty from one event. Having the appropriate insurance is more than just taking out a policy – taking the time to select a broker that has a deep understanding of the risks you face, understanding the different options, as well as keeping your insurance cover updated all play important roles in safeguarding your financial livelihood. Here are some of the steps involved…

The first step to being confident with your insurance cover is to firstly make sure you understand the various options available. As a disability carer, these are the main covers which may apply to you:

• Professional Indemnity Insurance – This applies if you’re involved in providing professional advice or a service to your clients (e.g. advice given by you in a counselling session in regard to respite/health care). It is designed to cover you if you’re held responsible for a loss suffered by your client due to negligent advice you provided. For example, if a client alleges that a service you provided negatively impacted them and their health, and sue you for compensation, Professional Indemnity Insurance can help cover both the legal costs of defending you, as well as the compensation you might be required to pay.
• Public Liability Insurance (PL) – PL helps provide cover if you are held to be legally responsible for bodily injury or property damage to a member of the public. For example, if you’re helping a patient into the bath and they lost their balance and slipped resulting in the client being injured. Similar to Professional Indemnity Insurance, PL can help cover legal fees associated with defending you, as well as compensation you might be required to pay if your negligence leads to a client, or any other member of the public being injured.
• Personal Accident – While PL covers your legal liability for bodily injuries to others, it’s also worth considering Personal Accident & Sickness Insurance to protect yourself if you suffer an illness or injury which stops you from being able to perform your work. This insurance provides financial relief if you suffer certain injuries or illness by covering your income for up to a period of time or providing lump sum benefits.
• Worker’s Compensation – This cover is mandatory for all employers in all states in Australia. It helps to cover your employees’ medical costs and lost income if they are injured or fall ill in the course of their employment with you.

After understanding the insurance options and what they cover, you’ll need to assess your individual situation and determine which cover(s) you require, and which covers you’ll take out. You might need just one, or all the covers we’ve mentioned. For example, if you provide professional advice or service to your clients, you might need to consider Professional Indemnity Insurance. If your work involves interaction with your clients or members of the public, you might want to consider Public Liability Insurance. Also remember to check the requirements of any organisations you register or sign up with to see if they have any minimum cover requirements.

Once you’ve decided which policy types you’ll take out, also think about which insurance provider you’ll select. When selecting a provider, while it can be tempting to go with the cheapest option, remember to also understand the level of cover may differ between providers. Also keep in mind factors like whether the provider has a thorough understanding of your profession. Aon’s dedicated team of National Disability Insurance Scheme specialists understand your industry and the nature of the work you do. Working together with industry partners such as Provider+, Aon can arrange insurance that has been designed with the needs of disability carers in mind and be your advocate when it comes to making a claim.

When it comes to insurance, it’s not enough to take out a policy and forget about it. It’s important to ensure your insurance stays up to date as your circumstances change. Here’s our simple 4-step guide to checking your insurance documents to make sure your cover is up to date. Stay in touch with your broker and notifying them of any changes to your business to help prevent gaps in cover. Adopting these insurance housekeeping habits can help ensure that the cover you have is in line with your business needs and can prevent any unwanted surprises should you need to make a claim. In arranging certain Not-for-Profit policies,