You purchased professional liability insurance as soon as you started working as an allied healthcare provider. With CPH Insurance it was easy. You applied online and are extremely satisfied with your coverage, but, like most things, it’s out of sight and out of mind.
Allied healthcare providers have enough on their plates, and sometimes things fall through the cracks. Maybe a family emergency happens or a crisis at work, whatever the distraction may be, don’t let your professional liability insurance policy expire without realizing it.
In order to prevent this from happening, early renewal is available 120 days out from your policy renewal date via our online application and a hard copy is mailed out within 75 – 95 days before your expiration date from your insurance team at CPH Insurance. If you do miss your renewal date you have a 30 day grace period to renew your policy.
3 reasons to Renew Your Policy Early
- Verification for agency work. Do you contract with an agency, municipality or other related organization? Most agencies will want to see proof of professional liability insurance before you will be authorized to do work for them. Their re- credentialing offices often look for a renewed proof of coverage a few months before your expiration date.
- Prevention of possible uncovered claim. Although you have a 30 day grace period your policy technically expires on the expiration date, so having a claim occur during this period could affect your eligibility for coverage.
- Time to choose correct policies. Has your employment status changed? Perhaps you are seeing more (or less) clients per week than you expected., or you’ve recently obtained a higher license or certification. Your renewal is the time update your policy to reflect these changes. Understanding the options and coverage you’ve chosen is the key to making sure you are adequately protected.
It is a requirement to fill out a new application every year for professional liability insurance. This may sound tedious to some, but the process is quite simple. Take time and do it online or when it is mailed. Renewals become effective the date the current policy expires.
The minor hassle of renewing early pays off exponentially in the peace of mind proper coverage brings.