Assisted Living Facility Insurance: Ultimate Pricing Guide
- Nate Jones, CPCU, ARM, CLCS, AU
- Jan 19
- 2 min read
Running an assisted living facility requires protecting your residents, staff, and property. One of the most important considerations for owners is insurance cost. Prices can vary widely depending on coverage, facility size, services, and location. Understanding pricing helps you budget effectively while ensuring full protection.
This guide focuses on assisted living facility insurance pricing, factors that influence costs, and how working with a specialized provider like Wexford Insurance can deliver a tailored quote.
Average Insurance Costs for Assisted Living Facilities
Insurance costs depend on many factors, but here are some typical ranges:
Coverage Type | Typical Annual Cost |
$2,000 – $6,000 | |
$3,000 – $10,000 | |
$1,500 – $8,000 | |
Varies by payroll and state | |
$500 – $3,000 |
Total combined cost can range from $6,000 to $25,000+ per year, with high-acuity or memory care facilities exceeding $30,000 annually.
Factors That Affect Assisted Living Insurance Pricing
Several factors influence your quote and overall insurance costs:
1. Facility Size and Occupancy
Larger facilities with more residents increase liability exposure, driving up premiums.
Memory care, medication management, and medical services increase professional liability risk, resulting in higher costs.
3. Staffing and Payroll
More employees and high-risk roles increase workers’ compensation premiums. Facilities with strong training and low turnover may see lower rates.
4. Location and State Regulations
State-mandated coverage requirements and local risk factors (like crime or natural disasters) affect pricing.
5. Claims History
Facilities with previous lawsuits or frequent claims often pay higher premiums. A clean record may reduce costs.
6. Risk Management Practices
Facilities with documented safety programs, emergency preparedness, and resident fall-prevention plans often qualify for discounts.
Tips for Managing and Reducing Insurance Costs
Bundle policies for savings (liability + property + professional)
Implement safety and risk management programs
Maintain detailed employee training and certifications
Review coverage annually to match current facility operations
Proactive management can lower premiums while keeping your coverage comprehensive.
Getting a Tailored Quote
Every assisted living facility is unique, so generic quotes rarely reflect your true risk and cost.
Wexford Insurance specializes in assisted living and senior living insurance. Their team evaluates your facility’s size, services, staffing, and compliance to deliver a customized quote that balances coverage and cost.
👉 Request your tailored assisted living facility insurance quote from Wexford Insurance.
Final Thoughts
Insurance pricing for assisted living facilities depends on multiple factors, from facility size and services to staffing and risk management practices. Understanding typical costs, what drives premiums, and how to manage expenses helps owners make informed decisions while protecting their residents and business.
Partnering with a specialized provider like Wexford Insurance ensures your coverage is comprehensive, compliant, and competitively priced.