Independent living facilities are a vital resource for our communities. They empower seniors to live safely and comfortably while providing them with access to essential services that enable them to continue living independently. Operations, staffing, and safety procedures are significantly different from those of other housing providers. Accordingly, their insurance needs are somewhat unique. Here are some important considerations regarding insurance coverage for independent living facilities.
You Need Insurance Coverage that is Tailored to Your Unique Needs
Independent living facilities need policy indorsements that extend above and beyond traditional general liability insurance. An independent living facilities insurance program is specifically catered to help you mitigate risk and safeguard your facility and its residents. A comprehensive package policy program may include a variety of different indorsements such as professional liability, directors and officers liability, property coverage, and boiler and machinery insurance. Depending on your facility’s services, you may also need to incorporate employment practices liability, protection for medical directors while acting within the scope of their administrative duties, and facility barbers and beauticians coverage.
It’s Preferable to Work with An Experienced Provider
When you’re procuring insurance coverage for your independent living facility, it’s important to work with a provider that has extensive experience serving your industry and an in-depth understanding of your unique needs. They can help impart valuable insight about risk mitigation, policy levels, and coverage lines.