As a growing number of seniors are in need of housing and healthcare, assisted living facilities are growing in number. This type of housing promoting a comfortable and independent lifestyle while typically offering some level on onsite care. These companies who operate assisted living pride themselves on the quality of their housing and service in addition to their commitment to safeguarding their residents and their operations. Senior living facilities need to hire skilled staff, have clear and consistent operating policies, and maintain comprehensive insurance coverage.
An assisted living facility insurance application will involve an in-depth review of your existing operations. You can reasonably expect a lot of questions, so you’ll need to get a lot of information ready to complete it. You can expect to be asked about your living center’s physical premises, the building’s systems, and the number of residents served. You will also need to provide detailed information about the number of staff members, their duties, qualifications, and interaction with residents.
Key Coverage Components
According to https://www.caitlin-morgan.com, important components of a comprehensive assisted living facility should include:
- Professional and general liability
- Excess liability
- Property coverage
- Boiler and machinery
- Automobile coverage
- Workers compensation insurance
- Crime insurance
- Directors and officers liability
To find out more about the right coverage levels for your facility, talk to an agent and get a professional analysis of your facility’s needs.