If you’re the owner of one or more independent living facilities, you know that this important line of work, unfortunately, comes with some specific concerns and risks. To help protect your residents and keep the facility’s doors open, here are some reasons to consider getting tailored insurance.
Numerous Independent Living Facilities May Be Eligible for Special Insurance
If you’ve been putting off getting living facility-specific insurance because you aren’t sure whether your workplace qualifies, you may be interested to learn that many types of facilities are eligible. This broad category can include a range of facilities such as:
- Retirement homes
- Senior housing or age-restricted apartment communities
- Continuing care communities
- Active adult or 55-and-up neighborhoods
Coverage Can Address Living Facility-Specific Concerns
Because eligible facilities can vary widely, you may be able to find a wide range of insurance coverage that can address the specific concerns of your facility. For instance, if your company owns the building, you may want property coverage. To avoid lawsuits, you could also get coverage for residents’ rights, personal property and even machinery insurance.
Running an independent living facility can be highly rewarding work, but can also come with some concerns that tailored insurance can help you address. Review these reasons for looking into insurance and you can find a policy that helps protect your facility.