Liability Insurance

Skilled Nursing Facility Liability Insurance

Skilled nursing facilities, also known as nursing homes, offer care to the elderly, patients with chronic illnesses or disabilities, those who are injured and cannot take care of themselves. The workers in a skilled nursing facility are trained to cater to the needs of the patients. Nursing care and assistance is usually round the clock, and it could be temporary or long-term.

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Skilled nursing facilities offer physical or medical needs and cater for social and psychological assistance to their patients. Offering a home-like environment is essential. However, it is still a business at the end of the day, which faces risks that require mitigating.

The state licenses nursing homes to operate in any of the three capacities

  • Skilled care
  • Intermediate care
  • Personal care

For a skilled nursing facility to protect the business, workers, patients, and supplies, insurance coverage is mandatory.

Skilled nursing facilities require insurance due to potential liability claims, which can involve

  • Worker’s injuries/illnesses
  • Third-party injuries- suppliers, family members of the patients
  • Property damage
  • Mistreatment of patients or negligence

What is the cost of Skilled Nursing Insurance?

The average cost of general liability insurance of a skilled nursing business varies depending on the location, the number of beds, the number of staff, facilities offered, experience, claims history, and sales.

Types of Insurance for Skilled Nursing Facilities

Here are the policies that are essential for a nursing facility

Commercial General Liability

The policy protects your facility from third-party injuries, lawsuits, and claims. For example, a visitor or vendor slips and falls while at your nursing facility, the policy covers medical care.

Commercial property insurance

Commercial insurance is vital for all small businesses, which includes nursing facilities. It covers damage to the property as well as the contents inside. The destruction may be as a result of fire or other natural disasters.

Professional Liability Insurance

Employees provide direct care to the patients within the nursing facility to cater to their needs. Mistakes by the employees can lead to a lawsuit that can be financially damaging. For example, a patient can be administered the wrong medication or dosage.

A professional liability policy protects your business against such mistakes and errors to the patients.

Worker’s Compensation

Employees in a nursing facility work round the clock, and such long hours are bound to cause an error in judgment. Some patients in nursing facilities are violent and could injure your workers.

Employee Benefits Liability Insurance

The policy protects the business owner from an error or omission of a worker’s employment program.

The policy is ideal for nursing facilities that have a high turnover of employees.

Commercial Auto Liability

Protects your business from damages caused by vehicle accidents involved in ferrying patients to other facilities like hospitals or activities like outings.

Sexual Misconduct Coverage

Many nursing facilities are victims of claims that involve sexual misconduct. The policy protects your facilities against such claims.

As a skilled nursing business owner, it is advisable to consult a trusted insurer to advise on the policies needed for nursing facilities and the inclusions for each.

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