Top 5 Tips to Consider before buying your NDIS Insurance | MyCareSpace
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Top 5 Tips to Consider before buying your NDIS Insurance

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1. What types of cover does an NDIS provider need? 

The NDIS Quality and Safeguards Cimmission requires that NDIS Providers have:
  • Public Liability,
  • Professional Indemnity and
  • Personal Accident cover

These are only recommendations and you should talk to a broker about  your activities to see which covers would be appropriate for your organisation. 

If entering into third party contracts, these may specify what levels of cover you need and can act as a guide.
 
Also, depending on how you are structured as an NDIS Provider you may not be eligible for workers compensation cover.

2. What activities should a NDIS Provider advise the Insurer of? 

As an NDIS Provider you must declare all activities you carry out. This includes all services provided and activities of all staff and volunteers.
 
When taking on new contracts with new activities or when your circumstances change, you will also need to advise your broker of these to ensure you are still appropriately covered.

3. Does a provider need previous experience in offering NDIS services? 

If you are a new NDIS Provider an Insurer will need to ensure you have relevant industry experience and a business plan.
 
By having these documents prepared beforehand, the Insurer can ascertain that you have the correct business and professional experience to be offering NDIS services, without these documents the insurer may unfortunately decline or put limitations on your cover.

4. Risk Management – why does an NDIS Provider need it? 

 NDIS Provider organisations need to consider their risk management and have a plan in place to control risk, that does not only focus on insurance, because insurance: 
 
  • may cost much more than other ways of controlling risk.
  • may not achieve the preferred outcome (preventing harm), it only compensates after the event/injury.
  • may not cover all risks and may be capped to a ceiling.
  • policies have exclusions which risk management needs to factor in.
  • is not the only form of risk management government legislation may require for example, occupational health and safety/work health safety

5. Need to be a Registered NDIS Supplier. 

To be able to take out the insurance you will need to be a Registered NDIS Provider.

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