Don’t Settle For Less Liability Insurance For Nursing Homes Than You Need
Experience. Attentiveness. Comfort. The same attributes that people seek when choosing a nursing home is the same thing that insurance agents should look for when shopping for liability insurance for nursing homes and/or assisted living facilities. In today’s litigious society, it is more important than ever to choose a policy that adequately covers all of the services you offer. Most policies offer basics such as general, professional and excess liability, but often exclude other areas of coverage that are just as important.
Why Cuts Are Being Made
The cost of liability insurance for nursing homes has dramatically increased over the years. According to AARP, this is because many insurance companies are dropping coverage altogether due to the overwhelming volume of lawsuits. It is extremely expensive to legally defend such claims. Those companies that still offer coverage for nursing homes and assisted living facilities are cutting certain areas of coverage in order to reduce costs.
All Is Not Lost
Despite the potential problems that are associated with this type of liability insurance, there are a still a number of carriers that provide custom or full coverage nursing home liability insurance policies. Including coverage in areas such as:
- Violation of resident’s rights
- Transportation coverage
- Barber and beautician coverage
You don’t have to settle for a watered down policy. Look for an insurance agent or wholesale broker that has experience with nursing home insurance and is familiar with the intricacies of the industry. Their attention to detail can get you the best liability insurance for nursing homes at a price you are comfortable with.