Any assisted living facility is something different to the staff, the residents, and the owners. Considering the unique exposure to risk that each of these groups represents helps identify the assisted living insurance programs right for your facility.
The assisted living facility is a workplace with diverse types of staff. As a workplace, workers’ compensation insurance is a must. If any staff drives to perform work tasks, you will need auto liability. In addition to general liability, professional liability protects your facility against staff errors. Digital transmission of data has made cyber liability insurance a necessity for many facilities. Employment practices liability covers the risk of human resources errors or lack of compliance with prevailing employment laws.
Home and Property
The assisted living facility is home for all of the residents, and is where they get their care. The general and professional liability coverage protects residents against the risk of injury at the facility or employee error. Crime insurance protects both the residents and staff in the event of criminal activity on the premises. The property of the facility needs to be insured against damage and loss. Property insurance and general liability are key for protection of property value.
There are many potential liabilities in this industry. Assisted living insurance programs can protect you from the various risks of operating an assisted living facility.