It goes without saying that running a nursing home can be as challenging as it is rewarding. With increasing regulation it is becoming more and more important to ensure you have a sufficient level of insurance.
Nursing home insurance should be a major consideration for anyone who runs or is planning to run a nursing or care home facility. While it is true that insurance is important whatever business you own, a nursing home requires a special type of policy.
So why is nursing home insurance so important? There are many different responsibilities and problems associated with a nursing home. For instance, one of the residents in your care facility may have emotional or mental difficulties and as a result of this, injure you, one of your staff members or even another resident.
In this situation, the injured party may seek legal advice and compensation, but having the appropriate cover will save you from having to pay out money from your own or the businesses account. Naturally the type of policy you take out will depend upon a number of factors personal to your organisation, however generally speaking, your policy should cover the following:
- Free legal advice
- Legal expenses
- Loss of earnings (interrupted business)
- Loss of cheques or money
- Nursing home contents cover – including cover for residents’ personal belongings
- Nursing home buildings insurance (If you own your property)
- Abuse cover
- Legal liabilities (including malpractice)
- Assault or personal injury within the workplace
While this is not a comprehensive list and there may be other things you would want cover for, it does give you an idea of the extent of cover you need.
Nowadays it is quite easy in theory to go onto one of the big comparison websites and find insurance; however with nursing home insurance, this task is a little more complicated. As it is a particularly specialised form of insurance, only a small number of insurers will be able to provide you with the appropriate cover.
Additionally, it can be tricky to work out a policy that fits your business perfectly. This is why it is wiser to seek the help of an experienced insurance broker such as ourselves, who have good knowledge of the nursing home sector.
We understand the importance of providing specialist care insurance at competitive prices. We’ll also discuss any possible deal with you thoroughly before you sign any contract.
You can also rest-assured that you have our continued support for the duration of the cover.