The Types of Coverages That Determine the Cost of Nursing Home Insurance

As nursing homes are becoming more of a necessity in today’s decade, insurance is expanding the types of coverages offered to this industry in preparation. Before setting up a policy, here is what you need to know to get an appropriate nursing home insurance cost for your facility.

What Specialty Coverages Are Offered To Nursing Homes?

While your insurance agent may offer a list of various insurances to all of the businesses or industries they serve, each niche may have coverages that are made specifically for their industry. Here are a few special coverages you can expect for nursing homes, assisted living or home health care facilities.

  • Violation of resident’s rights
  • Medical directors
  • Facility barbers and beauticians
  • No exclusions for employee physical and sexual abuse

Which General Coverages May Be Offered?

It’s important to note that some coverages may be offered but not necessarily required for your facility. Here are a few primary types of liability coverage that many nursing homes may be interested in.

-Property coverage -Business interruption coverage-Auto insurance for passenger and transport vans-General and professional liability coverage-Boiler and machinery insurance-Crime and cyber insurance-Workers’ compensation insurance -Directors and officers insurance-Employment practices insurance

Each facility will require coverages and the amount of coverage differently. An insurance agent will help you adjust the coverage amount to fit within the scope of your facility and render a nursing home insurance cost that fits your business risks as a whole.