Why Your Nursing Home Needs a Good Insurance Plan

Why Your Nursing Home Needs a Good Insurance Plan

As the gigantic baby-boom generation ages, the need for nursing homes, assisted living housing and other types of residential care is quickly rising at the same time. You want your facility to stand out from the crowd, to represent the best in care, and to provide a comfortable and safe environment for all of its residents. Making sure you have good insurance for nursing homes is a fundamental piece of achieving your goals.

Protection Against Liability

Your residents are typically frail and vulnerable, so your liability risk is high. You want to be fully protected against claims for such things as:

  • Violations of the rights of residents
  • Accidents and injuries
  • Sexual misconduct
  • Theft and other crimes

In addition, specialized insurance for nursing homes will include a comprehensive array of coverages, including workers’ compensation, auto insurance, and property damage.

Risk Assessment and Management

The best part about acquiring this specialized insurance is that the insurance company will do a risk assessment. Based on the results, they will offer you invaluable advice on mitigating the factors which may be making you more vulnerable to problems than you should be.

As a responsible nursing home administrator, you owe it to yourself and to your residents to make sure your insurance coverage is all that it should be.