Residential Care Facilities for the Elderly, also known as RCFEs, play absolutely vital roles in caring for senior citizens across the State of California and beyond. No matter if you currently own or operate a facility, or are in the process of getting one set up, obtaining proper insurance policies is critical for safeguarding your residents, staff, facility, and operations as a whole. Having helped many California RCFEs get the comprehensive insurance coverages they require, InsureMyRCFE has keen insight to share regarding how to tackle the situation in a successful manner. We are here to assist you in navigating through the process, and ultimately hope to provide you with peace of mind that your RCFE will have the protection it needs.
Policy Requirements and Considerations
At the beginning of the process, it is essential to have a clear understanding of which insurance policies are required, and what they entail. Liability coverage helps to safeguard you from any legal claims that come about from injuries and/or damage to property that happens at your location. As part of insuring your RCFE, you’ll want to make certain that you get General Liability and Professional Liability policies. Another required (and incredibly important) type of insurance for California RCFEs is Workers Compensation Insurance. These policies give you and your employees peace of mind, as they help workers that are injured or become ill on the job with lost wages as well as related medical expenses. You’ll also need to obtain Commercial Property Insurance, which covers the actual facility structures, along with furniture, equipment, and additional assets contained within.
There are particular policy considerations that you’ll want to take into account as well. One thing to pay attention to is particular coverage limits on these RCFE insurance policies. In essence, you want to make sure that your coverages account for the complete value of possible liability claims along with assets and other property. You’ll also want to get a grasp on the deductibles involved, which will enable you to determine your ability to handle the if a claim does happen. We also strongly recommend reviewing policies to pinpoint any particular limitations and exclusions so that you don’t end up stuck in a bad position.
Find A Dependable RCFE Insurance Broker
Beyond attaining an understanding of RCFE insurance requirements and what the specific policies offer, it is also vital to work with an experienced, skilled, and dependable insurance provider. It is worthwhile to invest time and effort into researching different providers and finding one you believe will serve your needs well. You’ll also want to carefully consider the coverage options that these brokers offer, and choose one that you’re confident will account for everything you require for your business. Once you have an insurance broker, you’ll want to routinely evaluate your current policies to make certain that they still give you all the coverage you need, particularly if your RCFE has experienced recent changes. It is always important to contact your broker as soon as possible if any substantial modifications are happening.
Keep Risks As Low As Possible
In addition to securing the right RCFE insurance policies through a trusted provider, you can also highly benefit from implementing particular strategies to help keep risk levels at your facility to a minimum. One important risk mitigation strategy is engaging in comprehensive (and periodic) staff training. You want to help ensure that your staff has a solid understanding of all relevant safety policies and procedures to help limit the chance of incidents. Putting effective safety measures in place, including setting up robust security systems, and having routine inspections, can help keep your facility protected. It is also a good idea to keep meticulous records and other documentation so that you can use them if need-be during any claims process.
Getting your California RCFE properly insured is ultimately essential in successfully protecting your residents, employees, and the facility investment as a whole. Taking the time to understand your insurance requirements, finding a viable broker, and doing all you can to keep your risks to a minimum, will all pay dividends over time. If you’re looking to get insurance for your new facility, or are interested in changing policies, the team at InsureMyRCFE would appreciate the opportunity to speak with you. Please don’t hesitate to give us a call at (805) 413-5668.
