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Senior Living Communities
Coverage for all clinical and non-clinical care providers
Insurance for Senior Living Communities & Other Residential Care
As an administrator of a senior care and living community, you are part of a rapidly changing industry that is expanding services and capabilities in order to meet evolving market demands. You are deploying new offerings for patients such as expanded recreational therapies and additional home-like amenities.
Outside influences, such as healthcare laws and insurance regulations, make providing these specialized services subject to more scrutiny and risk than ever before.
As a result, your residential care business is taking on more risks every day.
Heffernan Assisted Senior Living Business Insurance experts serve:
- Senior living communities
- Assisted living facilities
- Assisted living for developmental disabilities
- Adult day care
- Continuing care retirement center (CCRC)
- Convalescent homes
- Individual living centers
- Nursing homes
- Residential care facilities
- Retirement apartments(not licensed by the state)
- Skilled nursing
- Any “out-of-home” care community
Get Started with your Senior Living Community Insurance!
- Guaranteed quick turnaround
- Locked-in rates
- Automatic renewal
Being under continual exposure to scenarios that can result in lawsuits and their significant financial ramifications means your residential care, convalescent home, assisted living community or nursing home liability insurance — and your insurance broker — needs to be up to the task.
For in-home healthcare, visit our Home Care Business Insurance page.
Partner with THE Assisted Living Business Insurance Experts
Your insurance broker needs to fully understand your unique industry and the emerging threats you face – no matter the size or services offered.
Risks Affecting Assisted Living/Residential Care Communities
Your insurance broker needs to fully understand your unique industry and the emerging threats you face – no matter the size or services offered.
- Complex healthcare laws, such as the Americans with Disabilities Act
- Ever-changing individual health insurance regulations
- persistent cyber attack/patient privacy threats
- Opportunities for patient abuse or neglect from patient handling mishaps to sexual abuse
- Accidents occurring while transporting patients
- Patients property theft or damage
- and more
Any number of incidents can occur, from staff giving the wrong medication to accidents in a physical therapy center to unauthorized access of confidential patient information.
If your care business allows pets, that presents an even greater liability. Being pro-actively prepared for these or other incidents with a comprehensive insurance policy is paramount for your financial stability and business reputation.
Heffernan Insurance Brokers has a long history of working with many for-profit businesses and non-profit organizations in the residential care industry.
Our brokers cultivate relationships with our clients to become fully away of the unique situations they face in their businesses. They pair this relationship and
working knowledge of the industry to best approach the top national healthcare insurance underwriters to find the right plan to meet your unique needs.
What our Senior Care / Nursing Home / Assisted Living Community Insurance Provides:
- General liability insurance
- General liability to cover injuries from negligence
- Automotive / transportation
- Cyber / privacy
- Professional liability / malpractice / negligence
- Commercial property
- Worker’s compensation
- and more
Call us today to get started on an assessment of your community’s insurance needs:
TOLL FREE 1-855-700-1988
Mitigate Your Risk with Heffernan Insurance
As your risk management partner, Heffernan is constantly evaluating your industry – from new laws to regulatory compliance issues. We are actively reviewing your risk profile to identify potential coverage gaps and exposures that need to be pro-actively addressed to mitigate any legal and financial threat.
Our experienced team is involved with leading industry trade groups to be up-to-date on the industry to be able to provide tailored risk management solutions and continuing opportunities.
This risk management approach will help reduce your exposure before an issue arises. And if there is ever a need, our brokers are ready to quickly and efficiently help you through any claims.
Some factors our experts use to prepare our customized residential care liability and risk management packages:
- Number of communities?
- Do you use volunteers?
- Do you provide transportation services?
- Are pets allowed?
- How is your staff trained?
- Any previous patient property theft or damage?
- Have you had previous claims?
Heffernan will evaluate your current plan, your unique community and emerging trends in the industry and consult with you to develop a customized risk management solution.
Contact Heffernan Insurance today!
Frequently Asked Questions
Explore key questions about Senior Care Insurance.
What is Senior Care Insurance?
Senior living insurance is specialized commercial coverage designed to protect businesses providing care services for seniors, including assisted living facilities, nursing homes, and home healthcare providers. This insurance ensures that providers can continue operations smoothly even during unexpected events.
What does Senior Care Insurance cover?
Insurance for senior living covers risks specific to senior care services. It typically includes general liability, professional liability, and workers’ compensation. Additionally, it protects against property damage, equipment breakdown, and business interruption. Tailored policies may also cover cyber liability, abuse or molestation claims, and resident health care liability.
Who needs Senior Care Insurance?
Insurance for assisted living facilities, nursing homes, and home healthcare providers is essential for safeguarding against liability claims, property damage, and employee-related issues. Businesses using specialized equipment or providing medical and non-medical care should consider this coverage. Any entity involved in senior care services can benefit from senior housing insurance to protect their operations.
What are the costs of Senior Care Insurance?
The cost of insurance for retirement homes varies based on facility size, location, and coverage needs, typically ranging from a few thousand to tens of thousands of dollars annually. Key factors include the number of residents, extent of liability coverage, and types of services provided. Additional coverages like professional liability, cyber liability, and abuse or molestation claims can affect costs. Working with a senior housing broker or nursing home broker can help tailor a policy that meets the unique needs of the facility.
How to get Senior Care Insurance?
To get senior care insurance, contact an experienced insurance broker specializing in the senior care industry. They will assess your specific needs, including coverage for general liability, professional liability, and workers’ compensation. Provide detailed information about your operations, including resident numbers, service types, and unique risks. The broker will tailor a policy to fit your requirements and provide quotes from various insurers. Once selected, the broker will guide you through the application and underwriting process to secure coverage.
Small Business (under 50 beds), contact Tami Unsworth for an insurance review and quote.
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