As the Baby Boomer population continues to age, more people are moving to senior care communities like assisted living facilities and nursing homes. If you own or operate one of these facilities, the care and comfort of your residents is certainly your top priority. You understand that the residents and their family members put their trust in your staff to attend to their needs, and you do everything possible to meet their expectations.
Being responsible for assisted living and nursing home facilities is a big responsibility. Preparing meals, monitoring health, supervising medication, offering help with daily living and more are all things that long-term care facilities are responsible for. With so many important duties, accidents or incidents are bound to happen. “Assisted living claims are paying out more than skilled nursing claims, on average,” according to McKnight’s Senior Living.
Because of the significant risk that senior housing facilities face, carrying an adequate amount of liability insurance coverage is essential. Insurance for nursing homes and assisted living facilities from XINSURANCE offers a cost-effective risk mitigation solution to protect your business assets and give you peace of mind.
Insurance for assisted living facilities and nursing homes is your business’s best defense against lawsuits and other liability claims. Your plan will provide compensation to third parties — typically residents of your facility or their families — due to covered accidents or injuries resulting from the negligent acts of your employees. In addition, it will help pay for your legal defense if a case against your facility goes to court. You can also attain coverage for your property and other areas of your operation.
Examples of the types of insurance for senior living facilities include:
Here are some examples of situations where a comprehensive insurance plan can mitigate your risk:
We provide customized insurance solutions through an all-in-one approach to fit your needs. You can have the coverages below under one policy:
These policies will not cover injuries sustained by your employees while on the job. These situations typically fall under workers’ compensation insurance. They also do not provide coverage for intentional acts that cause injuries or property damage.
Insurance for senior living facilities is available for the following:
Whether it’s negligence, medical malpractice, alleged sexual abuse or molestation, why leave you or your facility open to liabilities? With Insurance for Assisted Living Facilities, we can help cover those gaps that leave you and your business vulnerable. We provide liability insurance solutions for the most difficult risks. If you have been declined, canceled, or non-renewed by your carrier, we can help you find a plan that will give you the protection and peace of mind you’re looking for.
Our all-in-one approach to liability insurance sets us apart from our competitors. We can provide a comprehensive plan tailored to your facility’s unique requirements. No risk is too big or too small for XINSURANCE — we’re able to offer liability limits of up to $10 million in-house, with higher limits available.
According to the Government Accountability Office, Medicaid officials in 30 states do not routinely review the licensing and certification of facilities, and 18 don’t look at the results of site visits.
Whether you need insurance for active adult communities, nursing homes or any other type of senior living facility, you’ll appreciate our fast, hassle-free quote process. Start by filling out our online application form with information about your facility and the potential risks you face. Our underwriting team will discuss your situation with you in further detail. After the call, we’ll furnish a quote for your review.
Request a free quote for senior living facility insurance to get started today!
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