ASSISTED LIVING FACILITIES
" WITH MANY DIFFERENT TYPES OF INSURANCE AVAILABLE , IT CAN BE CHALLENGING TO IDENTIFY WHICH ONES YOU NEED . "
exist . Specifically , industries focusing on elder care have a greater risk of abuse and data breaches than many other industries .
WHAT INSURANCE COVERAGE OPTIONS EXIST FOR ASSISTED LIVING FACILITIES ?
Insurance coverage that an assisted living facility may want to consider includes the following :
• Abduction : To limit the financial risks associated with possible resident abductions .
• Abuse ( physical or sexual ): Protects against legal damages resulting from physical or sexual abuse allegations . This involves improper physical contact , molestation , and touching .
• Data breach : Reduces the risk of penalties or civil litigation following data loss or theft .
• Professional liability : Protection against civil lawsuits or damages from harm caused by professional advice and services .
• Theft of resident property : Protects residents ’ property against theft or loss .
• Non-owned and rented vehicles : Covers personal harm and property damage caused by rented or borrowed cars as well as cars not owned by the assisted living facility belonging to employees or others .
As you can see , there is a wide range of insurance coverage types for assisted living facilities . However , it is unlikely that you will need to purchase all of them . An insurance specialist can help identify the potential risks that your assisted living facility may face and give you more information about how you can protect yourself and your business .
While public liability coverage is legally required for care homes , it doesn ’ t include claims related to Covid-19 . As a result , it is critical that owners take the necessary precautions to mitigate this risk .
Nesbit Agencies understands that the care and quality of life of your residents is your primary concern . Nesbit Agencies can assess your assisted living facility ’ s prospective insurance requirements and locate the best deal for you . And remember , even with insurance , your facility must have sufficient processes , training , and employees in place to minimize risk .
For more information on your specific obligations and how to protect yourself , contact Wayne Nesbit at 952-746-4312 or wnesbit @ nesbitagencies . com . +
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