Top 3 Things To Look For When Choosing A Nursing Home Insurance Company

Liability insurance for nursing homes There are many insurance coverage providers that offer liability insurance for nursing homes.  Whether you are switching from one insurance carrier to another, or are opening the doors of a new nursing home, there are a few things to consider when choosing an insurance services company.


1.  Specialized Services


In your search for a company providing insurance services, seek businesses that specialize in the nursing home or assisted-living facility industry.  Using established companies that have experience and expertise in the risks associated with the industry can assist in ensuring that you will receive credible and knowledgeable insurance recommendations.  Residential care providers operate under unique operating risks, and therefore need insurance providers that understand all aspects of the business.


2.  Multiple-State Insurance Coverage


Whether you have one facility, or several facilities in many states, choosing an insurance company that has coverage in all 50 states is a consideration.  Knowing that you have one source for insurance that covers all of your facility locations including those across state lines increases the ability to manage risk among your nursing homes more efficiently.  Companies that have been admitted in multiple states may indicate that the insurance provider has filed an application with the commissioner in that state and is in compliance with the state’s standards and insurance regulations.


3.  Comprehensive Services


A comprehensive insurance company usually offers various forms of liability insurance for nursing homes, such as general liability, property insurance, professional liability as well as customized policies to address the specific needs of your business, among others.


Evaluating nursing home insurance companies can be overwhelming.  If you have not determined your needs, there are insurance providers that offer risk assessments to evaluate your business and potential risk exposure.  Services may include strategic plans and packages for risk management and optimal insurance coverage programs for your business.