Three Assisted Living Facilities Insurance Coverage Options to Consider

When it comes to running your business and protecting it from risk, there is no “one size fits all” policy to meet the needs of every individual assisted living facility. Here are three coverage options that many people look past when shopping for assisted living facilities insurance.

Employee Benefits Liability

In addition to protecting the residents at your facility, but it may also be important when providing benefits to your employees that you consider employee benefits liability insurance coverage. This coverage option will protect you in the event that there is an error or mishandling of your company benefits program.

Non-Owned and Hired Automobile Insurance

If you ever have employees run errands for you, your facility residents, or for family members of residents, non-owned and hired automobile insurance would be a good coverage option to consider. This coverage option protects you from liability in the event one of your employees is out in their own vehicle or a rented vehicle running company errands and is involved in an accident.

Physical/Sexual Abuse

As a business owner, you hope that you will never need this, but if someone files suit against your facility, even if the accusations are completely baseless, a lawsuit claiming abuse can easily reach hundreds of thousands of dollars. The additional coverage premium may be well worth avoiding such a significant risk. As with any business, there are risks associated with operating an assisted living facility. This is why it is always important, regardless of your industry, to have sufficient assisted living facilities insurance coverage.