Business Insurance Requirements for Nurses in Pennsylvania

Pennsylvania leads the way in some areas of healthcare but lags in others. Even as promising cancer research emerges from the labs at UPenn, the state has a lower life expectancy than the national average. About a fifth of the state’s population is over the age of 65. As this share of the population grows, the need for nurses in Pennsylvania will grow exponentially with it.

Just as every patient you treat has individual needs, it’s important to consider your individual risk and key business factors when choosing business insurance to keep your company healthy. If you plan to hire even one employee, you will be required to carry workers’ compensation insurance under Pennsylvania state law. If you plan to move into a commercial space, your leasing agreement will likely stipulate proof of general liability insurance and/or commercial property insurance. Due to the nature of the job, nurses should also consider professional liability insurance. Also called errors and omissions or nurse malpractice insurance, this policy can protect against the costs of a lawsuit stemming from a business discrepancy or an error, such as a misdiagnosis.

Insureon makes shopping for insurance easy with industry-leading technology that gathers quotes from top U.S. carriers that fit your needs. Read more to find out which policies are most common for nurses in Pennsylvania, and start an application to get your free quotes today.

Find the right insurance policy for your nursing business

The most common policies for Pennsylvania nurses vary depending on factors including revenue, client contracts, and partnerships. The table below illustrates which policies might work best for your business type.

 

Business type General liability / BOP Professional liability / malpractice Workers' comp
Sole proprietor X X  
Contractor / freelancer X X  
Employer X X X

 

General liability insurance: General liability insurance is the foundation of a nurse’s business protection with coverage that extends to bodily injury, client property damage, advertising injury, and the cost of legal defense. Most commercial leases require you to have this coverage.

Professional liability insurance: Many clients require proof of professional liability insurance before entering contracts for professional services. This policy, also called errors and omissions insurance or nurse malpractice insurance, can help cover legal expenses if you’re sued for unsatisfactory work or a business discrepancy, such as a misdiagnosis.

Business owner's policy (BOP): Nurses sometimes qualify for a business owner’s policy. This package helps your business save money by bundling commercial property insurance with general liability at an affordable rate.

Pennsylvania workers' compensation: Pennsylvania state law requires workers’ compensation coverage for all small businesses that employ one or more workers. If an employee is injured on the job, workers’ comp can help pay for medical fees and lost wages. Independent contractors and solo business owners are exempt from the mandate, but they may elect for coverage. Insurance can be purchased through a private insurer as well as Pennsylvania’s competitive state fund. Intentional noncompliance can be considered a felony under Pennsylvania state law.

Due to the labor-intensive nature of the job, nurses are at considerable risk of workplace injury. In particular, nurses are at risk from costly injuries caused by trips, slips, or falls and overexertion, according to data from the Bureau of Labor Statistics shown in the chart below.

Most Common Workplace Injuries: Nurses in the U.S.

Business insurance costs for nurses in Pennsylvania

Nurses in Pennsylvania can expect to pay slightly more than the national median to secure their practice, according to an analysis of Insureon applications. Workers’ compensation is generally the most costly policy for nurses in the United States; this is true in Pennsylvania as well. This can be explained in part by the profession’s high risk of workplace injury – higher than construction and manufacturing, according to the Occupational Health and Safety Administration. Intentional noncompliance with the state’s mandatory workers’ comp law can be classified as a felony.

Median Insurance Costs for Pennsylvania Nurses

Save time and money with Insureon

Insureon’s industry-leading technology helps nurses in Pennsylvania save time and money shopping for insurance by comparing policies from dozens of top U.S. carriers. Simply apply online and review quotes for the policies that best fit your business needs. Our insurance specialists are licensed in Pennsylvania and can answer your questions as you consider coverage.

To make the application go even quicker, have this information ready:

  •      Workforce details, such as the number and types of employees.
  •      Current and projected revenue.
  •      Business partnerships.
  •      Insurance history and prior claims.
  •      Commercial lease insurance requirements.

Apply for free nurse insurance quotes today.