Insurance for Nursing Homes

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What Nursing Homes Are All About:

This industry consists of specialty care facilities for adults and children. Establishments include adult and elderly nursing homes, mental health institutions, substance abuse facilities, delinquent youth halfway homes, group homes for unwed mothers, orphanages, developmental disability facilities and retirement communities.

What type of insurance does this industry need?

Policy What is it? Why get it Popularity in your industry Want free quotes?
General Liability
This policy protects your business claims of bodily injury, property damage or advertising and personal injury (aka reputational damage). For example, the oh-so-common "slip and fall" claim would be handled under your General Liability policy. More likely than not, you have a contract, like a loan or a lease or mortgage, requiring you have General Liablity insurance. Even if you don't, this is the absolute best measure you can take to make sure you're covered in case of a law suit against your business.

What is it: This policy protects your business claims of bodily injury, property damage or advertising and personal injury (aka reputational damage). For example, the oh-so-common "slip and fall" claim would be handled under your General Liability policy.

Why get it: More likely than not, you have a contract, like a loan or a lease or mortgage, requiring you have General Liablity insurance. Even if you don't, this is the absolute best measure you can take to make sure you're covered in case of a law suit against your business.

Medical Malpractice
This coverage protects physicians and other licensed health care professionals (e.g., dentists, nurses) from liability associated with wrongful practices resulting in bodily injury, medical expenses and property damage. The potential for a lawsuit in this area is high in your industry, and this coverage helps you pay damages and legal costs.

What is it: This coverage protects physicians and other licensed health care professionals (e.g., dentists, nurses) from liability associated with wrongful practices resulting in bodily injury, medical expenses and property damage.

Why get it: The potential for a lawsuit in this area is high in your industry, and this coverage helps you pay damages and legal costs.

Commercial Property
This policy protects the business' assets, and is appropriate whether you own or lease your space or work from home. It can be customized in two ways: (1) insure more/less property and (2) insure against more/fewer causes of damage (e.g., earthquakes) If you have a mortgage or a lease, you are likely required to have property insurance. Even if you are not, this is the best way to protect the building you are in and the business property you have in case of a natural disaster or some other accident. And if the business is at fault for property damange? It helps pay those claims too.

What is it: This policy protects the business' assets, and is appropriate whether you own or lease your space or work from home. It can be customized in two ways: (1) insure more/less property and (2) insure against more/fewer causes of damage (e.g., earthquakes)

Why get it: If you have a mortgage or a lease, you are likely required to have property insurance. Even if you are not, this is the best way to protect the building you are in and the business property you have in case of a natural disaster or some other accident. And if the business is at fault for property damange? It helps pay those claims too.

Workers Compensation
Workers compensation coverage covers lost wages and medical treatment resulting from an employee’s work-related injury or illness. It also covers services needed to help an employee recover and return to work. This is the law in all 50 states. As soon as you have your first non-owner employee, it's time to get Workers Comp insurance. Not having this insurance can lead to hefty fines, and of course, it means the business has to pay for any workplace injury claims.

What is it: Workers compensation coverage covers lost wages and medical treatment resulting from an employee’s work-related injury or illness. It also covers services needed to help an employee recover and return to work.

Why get it: This is the law in all 50 states. As soon as you have your first non-owner employee, it's time to get Workers Comp insurance. Not having this insurance can lead to hefty fines, and of course, it means the business has to pay for any workplace injury claims.

Directors & Officers (D&O)
Those potentially suing your business may go after the personal assets of the company's directors and officers. This policy helps safeguard those assets. A D&O policy is often bundled with an EPLI policy. When appointing directors or hiring new officers they may demand D&O coverage as a condition of serving or employment because they don't want to put their personal assets at stake. Sometimes outside investors, such as venture capitalists or other banks, will require D&O policies before providing funding.

What is it: Those potentially suing your business may go after the personal assets of the company's directors and officers. This policy helps safeguard those assets. A D&O policy is often bundled with an EPLI policy.

Why get it: When appointing directors or hiring new officers they may demand D&O coverage as a condition of serving or employment because they don't want to put their personal assets at stake. Sometimes outside investors, such as venture capitalists or other banks, will require D&O policies before providing funding.

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