durable medical equipment liability insurance

insurance for durable medical equipment rental providers

Westwood will source the most suitable durable medical equipment business insurance for you at the best price.

Get a Quick Quote on Liability Insurance

why do durable medical equipment providers need insurance?

Durable Medical Equipment (DME) providers need insurance because despite the critical role they play in patient care, providers face several challenges that make liability insurance essential. These vulnerabilities to lawsuits can stem from various aspects of their operations:

  1. Equipment Failure or Malfunction: One of the primary risks DME providers face is the malfunction or failure of their equipment. If equipment breaks down or does not perform as expected, it could lead to patient injury or worsening of health conditions, resulting in a malpractice claim.
  2. Inadequate Instruction and Training: Providers are responsible for ensuring that patients or caregivers are instructed on how to use the equipment safely and effectively. If the provider fails to offer proper training or instructions, and an injury occurs as a result, they could be sued for negligence.
  3. Product Liability: DME providers may also be liable for issues related to the manufacturing and design of the equipment. While manufacturers are primarily responsible for product safety, providers can still be implicated if they rent out equipment known to be defective or dangerous.
  4. Delivery and Setup Errors: Errors made during the delivery or setup of equipment can lead to patient harm. For example, if a hospital bed is not correctly assembled, leading to a patient fall, the provider could be held liable for any injuries sustained.
  5. Faulty Recommendations: If a DME provider recommends equipment that is not suitable for the patient’s needs or condition, resulting in injury or ineffective treatment, they could be sued for malpractice or negligence.
  6. Breach of Privacy and Confidentiality: Providers have access to sensitive patient information. A breach of patient privacy or confidentiality, whether through careless handling of records or a cyberattack, can lead to legal actions against the provider.

To mitigate these risks, DME providers need liability insurance that covers legal fees, settlements, and any court-awarded damages. These insurance policies provide a financial safety net that allows durable medical equipment providers to continue their operations even in the face of legal challenges.

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what types of insurance do durable medical equipment businesses need?

General Liability Insurance

General Liability Insurance

This is necessary for equipment rental providers with their own facilities. It covers medical expenses, settlements and attorney fees resulting from bodily injuries and property damage your facility or organization could be legally responsible for.

Business owner's policy (BOP insurance)

Business owner's policy (BOP insurance)

A Business Owner’s Policy (BOP) or medical equipment business insurance, is a comprehensive insurance package designed for equipment providers with small to medium-sized businesses. It provides a blend of liability protection and property insurance.

Professional Liability Insurance

Professional Liability Insurance

Professional Liability Insurance overs any negligence or mistakes made by the individual equipment advisors during their practice. It differs from General Liability insurance, which covers the rental business itself. 

Commercial Auto Insurance

Commercial Auto Insurance

This is relevant for equipment rental providers who use vehicles for pickups and deliveries. This insurance covers you against auto accidents, theft, and other vehicle-related incidents.

Workers Compensation Insurance

Workers Compensation Insurance

Workers Compensation Insurance is usually mandated by law. It protects durable medical equipment providers and their employees in case of work-related injuries or illnesses.

Cyber Liability Insurance

Cyber Liability Insurance

Covers you against financial losses associated with data breaches, cyber attacks, and other cyber incidents. Insurers will usually conduct rigorous testing of your online system to fix vulnerabilities as part of this policy.

Contact Chris Worley now

Chris Worley

Chris specializes in insurance for durable medical equipment providers. You can call him or one of the team on the number below or fill out the form and he will get your message directly:

we've got you covered

General Liability Insurance

Protecting healthcare organizations against increasingly crippling litigation.

Professional Liability Insurance

Protecting medical professionals against increasingly crippling litigation.

Medical Malpractice Insurance

Protecting medical professionals against increasingly crippling litigation.

Cyber Liability Insurance

Protecting healthcare organizations & professionals against cyber attacks.

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    alternative structures

    Westwood President, Michael Richards has extensive experience in setting up alternative structures for larger clients. Here are some examples:

     

    If you think your client could be large and stable enough to benefit from starting or participating in a captive or has a special need for another alternative structure, contact Michael Richards now by phone: 855 351 7487.