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Nursing Home Insurance FAQs – Part 1

Nursing Home Insurance FAQs – Part 1

As a nursing home administrator or staff member, you are likely aware of the many risks you face day to day. A resident may get injured, an employee may be dishonest, or a storm could damage your property. These are all situations that, without the right type of Nursing Home Insurance, could cost your facility a devastating amount of money due to a lawsuit. Here are some common insurance related questions that can help you make the right decision in determining the type of Nursing Home Insurance coverage your establishment needs.

Is General Liability Enough?

General Liability insurance is definitely a good starting point for coverage, for any type of business. However, there are often significant gaps in coverage, especially for the senior living industry, that is exposed to so many risks.

Why Would I Need Professional Liability Insurance?

Professional liability coverage protects your staff against losses stemming from accusations that an error or negligent act on your nursing home’s part causes physical or financial harm to someone. Even if no error was made, a resident or resident’s family member could still make a claim such as a medication error, food illness, accidental injury, etc. The financial costs of the legal defense fees alone could be enough to do significant damage to your facility.

Do I Need to Offer Employee Benefits?

Employee benefits, such as healthcare coverage, are optional for small employers. But while employee benefits might not be required to be part of your Nursing Home Insurance policy, benefits are a critical part of retaining employees. Additionally, if your facility does offer benefits to its staff, then Employee Benefits Liability is a vital necessity. This feature covers the cost of potential lawsuits that may result from processing errors related to employee benefits. It also provides coverage if you fail to inform employees of the benefits program.

These are just a few of the important coverages available to those in the senior living industry. In part 2 of this post, we’ll look at a few more of the questions that those working in nursing homes have, such as why they need sexual misconduct coverage, and what exactly Business Auto insurance covers.

At DigniCARE, we’re poised to help you meet the challenges of a changing environment in the senior living industry, where the goal is to elevate the quality of life for nursing home and assisted living residents. Our services encompass innovative solutions for Nursing Home Insurance CoverageAssisted Living FacilitiesIndependent Living Facilities, and Continuing Care Retirement Communities (CCRC). To learn more please call (855) 883-6306.

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