Nursing homes play an important role in the welfare of the elderly. While this business serves an important need in many communities, it also comes with unique risks. It’s essential for these facilities to carry proper insurance coverage to protect against a variety of factors. Here are some of the most important types of coverage to have in place.

What Insurance Policies Should a Nursing Home Carry?

1. General & Professional Liability

Nearly all businesses need general liability policies, which protect the business in event of an injury sustained by a third party. For example, if a visitor slips on a wet surface, this coverage will take care of their medical expenses. Professional liability coverage protects the business in the event a nurse or employee causes harm to a resident, whether intentionally or by mistake.

2. Commercial Property

Buildings can sustain damage due to multiple causes, including natural disaster, vandalism, and theft. Not only does a commercial property policy protect the structure, but it also safeguards a business’s equipment. Medical equipment in specialized nursing facilities is a high-value asset that requires proper coverage.

3. Sexual Misconduct Coverage

While it’s unsettling to think about sexual abuse occurring on the premises, unfortunately, it has occurred at care facilities across the nation. General liability insurance often excludes sexual abuse. Add an extra level of safety by including sexual misconduct coverage as a separate policy.

4. Employee Benefits Liability

Many nursing homes have a large workforce with high turnover rates. As a result, oversights in the administration of employee benefits could become a liability. This type of coverage protects you in the event that a staff member tries to pursue litigation regarding a failure to receive employee benefits.

5. Workers’ Compensation

All nursing homes should carry workers’ compensation policies, and most states require it. This coverage takes care of medical costs and missed wages in the event an employee is injured on the job. Even if the injury is the employee’s fault, the employer is still liable for related costs. It also protects against lawsuits that arise as a result of a job-related injury or illness.

Business owners in the Cincinnati, OH, area, should reach out to Siemers Insurance Agency when shopping for a suitable insurance policy. This trusted provider has been serving the community for more than 60 years and is a member of the Independent Agents Association of Ohio. They’re dedicated to helping you find affordable policies to meet your needs. They also licensed in Kentucky, Indiana, Florida, and North and South Carolina. See their full list of business insurance options online, or call (513) 469-8877 to request a quote.