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Assisted Living Facilities Commercial Insurance Offers Needed Value

The cost for assisted living facilities varies widely, depending on location, level of care offered, and privacy. Options range from smaller rental units without a lot of extra services, available for about $500 to $1,500 per month (prices may vary from state to state), all the way up to $5,000-$9,000 per month. As an owner or manager of such a facility you provide services to an aging demographic with specific needs and requirements.

Almost all assisted living facilities are designed to act as a home for people that are often frail and sickly and may require special dietary needs, medications, nursing and other services that can be made available in a retirement community set up to aid many who may be living out there lives here.

Assisted living requires special attention

With housing and elderly population come exposures and risks, such as slips and falls, which could result in serious trauma, like a broken hip. A family will want to know the details of the accident, and if they assume negligence was involved may decide to bring suit against the facility. As the proprietor, you want to assure them that you are providing the highest quality of care, but you will likely face instances where reassurance is not enough. Therefore the need for some form of assisted living facilities commercial insurance, is not only required, but can save the facility from losing all of its assets.

Hiring practices need to be extremely stringent

No facility owner wishes to believe that they are providing less than adequate care to their residence. This is why background checks on employees, as well as safety standards, must be kept at a high level. Many facilities come under scrutiny in the event it is discovered that an employee has a history of repeated firings from other facilities, something that went unchecked during the hiring process at your place of business. Managers need to be thorough, simply because of the type of clients they are providing services for.

Elderly residents can be prime targets

Many residents may be reaching a point in their lives where they may become forgetful, while others are physically weak, making them easy targets for unscrupulous workers, or other residents who might take an opportunity to steal or make unwanted sexual advances on these victims to whom they have easy access to. These are real concerns and need to be removed before the inevitable happens and a lawsuit is filed. Having assisted living facilities commercial insurance is protection you cannot afford to be without.