Assisted Living Facilities Insurance Massachusetts

Assisted Living Facilities Insurance from Massachusetts Specialists

What is Assisted Living Facilities Insurance?

Facilities that provide Massachusetts residents with assisted living services have substantial assets and are exposed to significant liability risks. In order to protect themselves, facilities should have assisted living facilities insurance that provides robust protection.

Assisted living facilities insurance is a specially designed commercial insurance that’s intended for assisted living facilities and similar businesses. Because these businesses are exposed to multiple risks, most policies come with multiple coverages that are combined together into a convenient package policy. 

What Businesses in Massachusetts Need Senior Living Facilities Insurance?

The vast majority of Massachusetts businesses involved in providing assisted living services should be insured, and many may be required to carry coverage. Some specific examples of businesses that may need this type of policy include:

  • Assisted living facilities
  • Independent living facilities
  • Skilled nursing facilities
  • Continuing care retirement communities

Additionally, facilities typically need insurance regardless of whether they operate as a for-profit or not-for-profit organization. 

Assisted Living Facilities Insurance Massachusetts
What Coverages Do Senior Living Facilities Insurance Provide?

As mentioned, senior living facilities insurance policies usually come with multiple coverages. The exact list of coverages that are available can vary, but policies frequently offer protections like the following:

  • Commercial Property Coverage, which may protect facility-owned buildings and equipment
  • Boiler and Machinery Coverage, which may protect essential equipment in the event of a breakdown
  • General Liability Coverage, which may protect against common accidents and certain lawsuits
  • Professional Liability Coverage, which may protect against errors made by employees when providing care
  • Excess Liability Coverage, which may increase the limit of an underlying liability protection
  • Business Income Coverage, which may protect against sustained drops in revenue following a disaster

In addition to these, facilities might also want specific coverages for certain personnel within their organization. Some of the more common personnel-specific protections are:

  • Directors and Officers Liability Coverage, which may protect leaders of an organization
  • Coverage for Medical Directors, which may protect directors when acting in their administrative capacity
  • Coverage for Beauticians and Barbers, which may protect non-medical professionals who are employees

There are still other coverages that policies often offer. An insurance agent who specializes in senior living facilities insurance can help facilities sort through the available options and select protections that are right for them.

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Do Senior Living Facilities Insurance Policies Cover Evacuations?

Many senior living facilities policies will reimburse evacuation expenses if a facility must evacuate its residents. An agent can confirm whether a policy will cover these costs when reviewing the policy.

How Much Do Assisted Living Facilities Policies Cost?

Assisted living facilities policies’ premiums are based on many different factors and frequently vary as a result. Even with the variance and all the coverages they provide, however, these policies tend to be within what facilities can afford. The premiums are almost certainly more affordable than what facing a major claim could cost if no coverage is in place.

Facilities can find out how much a policy that provides the coverages they need would cost by contacting an independent insurance agent. An independent agent has the flexibility and freedom to request quotes from multiple insurance companies, which makes comparing rates for different policies easy.

Assisted Living Facilities Insurance Massachusetts

How Can Facilities in Massachusetts Get Assisted Living Facilities Insurance?

For help insuring an assisted living facility or similar business, get in touch with the independent insurance agents at Roger Keith & Sons Insurance. Our agents have helped many facilities find assisted living facilities insurance, we have the expertise necessary to find your facility a robust policy that affords lots of protection.

Speak to an Experienced Agent