The Ultimate Checklist for Business Insurance for Your Assisted Living Facility
- Nate Jones, CPCU, ARM, CLCS, AU
- Jan 19
- 2 min read
Getting business insurance for your assisted living facility can feel overwhelming, especially given the complex risks involved in senior care. From liability concerns to regulatory compliance, a clear plan ensures your facility is protected and operates smoothly.
This ultimate checklist helps facility owners navigate the process, avoid costly mistakes, and secure the right coverage. Plus, it highlights how working with Wexford Insurance can simplify the process and provide a tailored insurance quote.
Step 1: Assess Your Facility’s Risks
Before requesting a quote, evaluate your facility’s unique risks. Consider:
Resident care levels (memory care, medical oversight)
Facility size and resident count
Number and roles of staff
Property features and potential hazards
Identifying risks upfront ensures your coverage is comprehensive.
Read More: Learn about senior care risk management at National Center for Assisted Living (NCAL).
Step 2: Determine Required Coverage Types
Assisted living facilities usually need multiple types of insurance:
General Liability: Protects against slips, falls, and property damage
Professional Liability: Covers claims related to medical or care services
Property Insurance: Protects buildings, furnishings, and equipment
Workers’ Compensation: Covers employee injuries
Cyber Liability: Protects sensitive resident information
Knowing which policies you need helps you avoid coverage gaps.
Step 3: Gather Necessary Documentation
Insurance providers often request documentation to generate accurate quotes:
Facility license and state compliance records
Staffing numbers, roles, and training certifications
Safety and emergency procedures
Claims history (if any)
Having these documents ready speeds up the process and ensures accurate pricing.
Step 4: Compare Providers and Policies
Not all insurance providers specialize in senior care. Compare multiple providers, focusing on:
Coverage limits and exclusions
Price vs. value
Experience in assisted living insurance
Wexford Insurance specializes in senior living and assisted living facilities, offering tailored coverage designed to meet your facility’s needs.
Step 5: Evaluate Cost-Saving Options
You can often reduce premiums without compromising coverage by:
Implementing safety and fall-prevention programs
Documenting staff training and certification programs
Bundling multiple policies with a single provider
Reviewing policies annually to adjust coverage based on changes
Strong risk management can significantly impact pricing.
Step 6: Review, Finalize, and Maintain Coverage
Once you select a provider and policies:
Review policy documents carefully for exclusions or gaps
Ensure compliance with state regulations
Maintain records and update coverage as your facility grows or services change
Ongoing maintenance ensures your insurance continues to meet your facility’s needs.
Final Thoughts
Securing the right business insurance for your assisted living facility doesn’t have to be complicated. By following this checklist, facility owners can ensure they have the coverage, compliance, and peace of mind needed to focus on providing excellent care.
Partnering with an experienced provider like Wexford Insurance streamlines the process and delivers a customized insurance quote designed for your facility’s unique risks.
