Ontario Nursing Home Insurance
In recent times, a large number of facilities have begun experiencing an increase in the cost of their Nursing Home Insurance. In fact, coverage providers in some regions have stopped offering this type of policy all together. This means that the coverage you need for your facility may be more difficult to obtain than you think.
This important protection is a large issue for consumer advocates, nursing home providers and regulators. Just like with any other type of business, maintaining the proper insurance coverage is a major part of operating a nursing home.
Assisted Living Facility Insurance will help by providing coverage for the cost of lawsuits. This will make it possible for the facility to defend itself and help with paying any damages that are awarded. Therefore, the financial stability of your nursing home facility will not be in danger.
At Bethel Insurance Brokers of Ajax, Ontario, we specialize in meeting the insurance needs of assisted living facilities and nursing homes. With our vast experience, we have acquired insight into the protection needs of these organizations. In addition, we offer the attention to detail, dedication and follow up service that each of our clients deserve.
Crucial Insurance Coverage for Nursing Homes and Assisted Living Facilities
Assisted living facilities and nursing homes need the right insurance to protect your professional liabilities as a caregiver. In addition, it can also protect your property and general business vulnerabilities as well.
A number of Nursing Home Insurance policies are critical to the facilities protection against property damage, lawsuits and a list of additional unforeseen costs that could be devastating to an organization, such as:
- Business Owners Policy - This is a policy that offers both property insurance and general liability insurance together. You will be protected against the cost of third party liability claims and your assets will be covered for loss or damage.
- Commercial Auto Insurance - This type of policy will protect your vehicles, volunteers, passengers and employees in the event of an automobile accident.
- Cyber Liability Insurance - With this type of coverage, your electronic information will be protected in the event of a data breach by an unauthorized person that obtains access to the private information stored on your facility's computer network.
- Directors and Officers Insurance - Board members, directors and officers may be held personally accountable in a legal case, but this type of coverage makes it possible for these individuals to perform all of their obligations without worrying about personal liability.
- Errors and Omissions Insurance - This coverage is a type of nursing home malpractice insurance policy. During the course of their work, an employee of your nursing home may offer advice or provide solutions or counseling that fails or causes harm. A mistake or oversight like this could lead to major lawsuits on the basis of professional negligence. The defense, judgments and settlements of these cases could be more than your nursing home can bear.
- General Liability Insurance - This is the most basic type of Assisted Living Facility Insurance that your Ontario nursing home is going to need. This coverage will make certain that your nursing home is well protected in the event of an unexpected accident that leaves someone injured or with damaged property.
- Commercial Property Insurance - With the right property insurance policy from Bethel Insurance Brokers, your nursing home or assisted living facility will be able to survive an unexpected financial blow that comes with having to replace lost or damaged property.
- Umbrella Insurance - Sometimes referred to as excess liability coverage, this is the policy that you will need to give your standard policy a boost. When a claim exceeds the limits of your original liability policy, umbrella insurance will kick in to cover the remaining expenses.
- Workers Compensation - Behind every great nursing home, there is a committed and hardworking team of employees. Unpredictable accidents can happen at any time. However, with the right Workers Comp policy, your nursing home will not have to worry about paying out of pocket for medical bills and lawsuits if one of your employees experiences an illness or injury related to the course of their job at your nursing home.
There is no reason that you will have to settle for a one-size-fits-all Assisted Living Facility Insurance policy. At Bethel Insurance Brokers, you can expect the best customer service from qualified brokers who are willing to go the extra mile to make certain that you have an insurance policy that is designed to meet the specific needs of your unique assisted living facility or nursing home.
All you have to do to get started right away is click on the quote request button now. You will be assigned a broker who is an expert in the type of coverage that you need. When you work with an expert, you can rest assured with the knowledge that your plan will not be overstuffed with unnecessary and expensive coverage. With our brokers by your side, you will get the coverage you need.