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10 Quick Answers about PSI’s new Occupational Accident Insurance for members

1. Who will this policy cover?

Individual Pet Sitters who are owner operators or sole providers and meet the legal definition of Independent Contractor of their applicable state law.

 

2. Will the policy cover my Independent Contractors?

Yes, as long as individual ICs take out their own policy and meet the legal definition of Independent Contractor of their applicable state law. They cannot be an employee or volunteer or be paid via W2. Each individual IC has to run his or her own business independently of your business and be an active member of Pet Sitters International.

 

3. Can I cover my employees under this policy?

No, employees can only be covered under workers’ compensation insurance, and no coverage is provided for employees paid via W2 or volunteers under the PSI Occupational Accident Policy. If you would like coverage for employees, please contact Business Insurers of the Carolinas for a workers compensation insurance quote.

 

4. Who is the insurer?

The PSI Occupational Accident Policy is insured via Lloyds of London. All claims are handled by Gallagher Bassett Insurance Services, available seven days a week, 24 hours a day.

 

5. What will the policy cover?

All accidents that occur while pet sitting, traveling to client’s/pet’s home, and while performing any other contracted pet-care service (grooming, training, daycare, etc.). Examples of covered claims would be dog bites, slip and falls, auto accidents while in route to client’s home, etc.

 

6. How much coverage is provided?

The policy covers $750,000 in Medical Expenses, $100,000 Disability Benefit (with choice of $300 or $500 weekly maximum based on prior 12 months average weekly earned income and subject to seven-day waiting period), $100,000 Accidental Dismemberment, and $100,000 Accidental Death Benefit.

 

7. What is the cost for the PSI Occupational Accident Policy?

The policy has two optional coverage plans. Option 1 provides up to $300 weekly disability benefit after a seven-day waiting period and the annual premium is $456. Option 2 provides up to $500 weekly benefit after a seven-day waiting period and the annual premium is $576.

 

8. Does the policyholder have to meet a deductible before benefits are received?

Yes, the deductible for the medical benefits is $100 per claim. For disability income, there is a seven-day waiting period.

 

9. Are payment plans provided?

Policies can be paid annually, quarterly or with 25 percent down and nine monthly installments. Mastercard, Visa and Discover cards are accepted, but only if paying annual premium in full.

 

10. How do I apply for coverage?

To apply for coverage contact Business Insurers of the Carolinas for an application via email at psi@business-insurers.com or call 1-800-962-4611, ext.1.