Insurance for Assisted Living Facilities

Bankers Insurance is passionate about providing insurance for assisted living facilities. You are careful to serve your clients with dignity and respect. Let us do the same for you. No matter whether your business is an active adult community, apartments or condominiums for seniors, or even a nursing home, we custom-tailor insurance solutions to suit your needs. As an independent insurance agency, we have your interests at heart. We are contracted with the top assisted living facility insurance companies, will quote your coverage with them, and present you with your available options.

Property insurance for assisted living facilities protects your investment in your business. This insurance includes coverage for your building and contents. It can also protect your lost income should the building be damaged. Many assisted living facilities without income coverage that are severely damaged struggle to reopen, even if they carry proper coverage on the building. Business expenses such as outstanding loans and key employee salaries continue even though no income is generated during reconstruction. Protect not just your contents, but your income as well.

• Buildings
• Contents
• Contents of residents
• Business Income and Extra Expense, Actual Loss Sustained: A critical insurance for assisted living facilities, this protects against lost income during reconstruction. Protection for a resulting decrease in clients is included as well. Reference our business income calculator to select sufficient protection.
• Automated external defibrillators
• Communicable disease extra expense
• Utility services
• Funds transfer fraud
• Emergency vacating expense
• Employee theft
• Theft of resident’s property
• Property off premises
• Flood
• Earthquake
• Key employee replacement
• Identity theft

Liability insurance for assisted living facilities is available through several solutions. General liability protects your organization from liability due to bodily injury and property damage. Common claims for this coverage are due to injured residents or guests on the premises or parking lot. Another common exposure is foodborne illness associated with a cafeteria. Professional liability protects your business for professional services offered such as administering medications and other care-related exposures. Umbrella liability is available as an extra layer of protection over your general liability, professional liability, auto liability, and even workers compensation, to increase policy limits. Umbrella liability is available from $1,000,000 to $50,000,000 and higher.

General Liability

• Blanked additional insured status, when required by contract
• Assault
• Liquor liability
• Property damage to property of others while in your care

Abuse or Molestation Insurance

• Broad limits
• Available on either occurrence or claims-made basis
• Innocent employee, volunteer, and student-in-training expense coverage

Professional Liability

• Broadest scope of operations available
• Protection for your employees, volunteers, and even students
• Occurrence or Claims Made forms

Umbrella Liability

Workers compensation insurance for assisted living facilities protects your employees and your business. It offers statutory compensation for healthcare expenses and lost wages for job-related injuries. This protection is unlimited. Common claims we see for assisted living facilities are back strains. These can be costly, requiring recovery time and therapy. However, many times they are preventable. Let us help you implement a workplace safety program that includes training on safe lifting practices and a return-to-work program to help increase workplace safety, reduce claims frequency, and reduce the amount paid on those claims.

Many assisted living facilities offer transportation of their residents, even if on an infrequent basis. Auto liability represents significant risk. Business auto insurance for assisted living facilities protects against this exposure. A single at-fault accident of a van or bus carrying residents can quickly result in large claims. We highly suggest an umbrella liability policy as well be placed over this coverage.

Another common exposure is employees who drive their own vehicles on business time, such as running to the hardware store for supplies or to the post office for mail. Your policy should include hired and non-owned protection for this risk.

• Cars, vans, buses, or trucks – all are eligible.
• Auto Liability
• Auto Physical Damage, including attached equipment
• Towing and Rental Expense
• Hired and Non-Owned Liability and Limited Physical Damage
• Garagekeepers
• Blanket Additional Insureds
• Attached electronic equipment including audio, visual, and data
• Care, custody or control broadening amendment

When you become a client of Bankers Insurance, your agent will take the time necessary to understand your business and suggest other protections that may be applicable. Just as you are proud of the service you provide your valuable clients, we are proud of the service we package with our insurance for assisted living facilities. You are in control. Choose from a variety of protections including:

• Cyber Liability
• Directors and Officers Liability
• Employment Practices Liability (EPLI)
• Employee Benefits Liability
• Builder’s Risk
• Crisis Response
• Inland Marine (mobile equipment)
• Key Employee Life
• Group Health
• Group Life
• Group Dental
• Group Vision
• Group Disability

Why Bankers Insurance?

Anyone can be an order-taker.  Bankers Insurance is different.

We don’t expect clients to be experts in insurance for assisted living facilities. Take advantage of our experience. We can explain options and help you determine coverage that suits your needs.

As your insurance agent, we strive to know you. Only then can we suggest coverage that fits your specific business. We look for coverage gaps and offer protection. With us, you get the benefit of: