Nursing Homes Insurance

Why do nursing homes need insurance?

From medication administration to emergency care, nursing homes and independent living communities are exposed to high risks. A lawsuit alleging injury, neglect or even wrongful death can have a major financial impact on your facility. Nursing home insurance can help keep your business afloat.

Find affordable coverage

Nursing home owners can save money on insurance by comparing quotes from top providers.

What types of insurance coverage do nursing homes need?

These insurance policies cover common risks of long-term care facilities.

General liability insurance

General liability insurance covers third-party liability claims, such as visitors tripping on your facility’s front steps. Bundle with property insurance for savings in a BOP.

Business owner’s policy

A business owner’s policy, or BOP, is a cost-effective way for nursing homes to buy general liability insurance and commercial property insurance together.

Professional liability insurance

This policy, sometimes called medical malpractice insurance, provides liability coverage if a skilled nursing facility is sued for neglect of a resident or fails to deliver promised services.

Directors and officers insurance

Directors and officers insurance (D&O) covers legal expenses if board members are sued for decisions they made on behalf of your assisted living facility.

Workers’ compensation insurance

Most states require workers’ comp insurance for nursing homes that have employees. Also, this policy benefits sole proprietors who may have work injury costs that health insurance might deny.

Commercial auto insurance

Commercial auto insurance protects the policyholder from legal costs during lawsuits over property damage or injuries caused by a business-owned vehicle.

How much does nursing home insurance cost?

A small nursing home will pay less for commercial insurance than a larger company.

Factors that affect the cost of small business insurance include:

Services offered, such as types of long-term care, group outings and medical care
Business property and equipment
Business income
Business operations
Types of insurance purchased
Policy limits and deductibles

Get a quote online or call us today at: 786.601.2485