As natural disasters become more common and wild weather seems here to stay, business owners need to take note. It’s not enough to cross your fingers and hope your Residential Care Facility for the Elderly (RCFE) will dodge the next wildfire, earthquake, or flood. To protect your business, you need to have a proactive plan in place.
Fortunately, the right insurance coverage can go a long way here. With RCFE commercial property insurance, you get a way to safeguard your site and everything on it. If disaster does strike, that insurance policy plays a key role in helping you rebound.
What Commercial Property Insurance Can Do for Your RCFE
An RCFE commercial property insurance policy can do two things for you: protect the property itself (i.e., the building[s] and grounds) and protect your RCFE’s belongings.
You’ve probably invested quite a bit into creating a comfortable place for your residents to live. That means everything from buying the right medical equipment to landscaping the exterior. And all of this comes at a price.
Don’t let a disaster wipe that investment away. With commercial property insurance, you have a way to protect your building, equipment, furniture, landscaping, outdoor signage, and more.
Beyond that, the right RCFE commercial property policy can also protect the personal belongings of your residents. Recovering after a disaster is already challenging. You don’t want to have to worry about covering residents’ losses, too. And with commercial property coverage, you won’t have to.
Talk with our team about the protections your facility needs. Depending on where you’re located, you may also benefit from additional coverage, like earthquake or flood insurance. We can help you put the safeguards your RCFE needs in place.
The Mistake of Leaning on Homeowners Insurance
If you’re running your RCFE from a home, you might think that a home insurance policy is enough. Be careful, though. It’s standard for homeowners insurance to specifically exclude business-related coverage. That means that anything specialized you have in your RCFE, from beds to medical equipment, likely doesn’t have protection under the home insurance policy.
So, what would happen if a fire blazed through? You don’t want to be left struggling to recover. And that’s where a commercial property insurance policy comes in.
With this type of coverage tailored to RCFEs, you can safeguard your facility and all of the property inside it. With this layer of protection in place, you avoid the need to fight with your home insurance provider about what is and isn’t covered. As a result, bouncing back after a disaster gets much easier.
Setting Your RCFE Up for Success After a Disaster
If disaster does strike, you want it to be as easy as possible to file your insurance claim and start the recovery process.
Creating an inventory list can go a long way here. Make a list of everything your RCFE owns. Whenever possible, include receipts or credit card statements to verify value. Having a file that you store somewhere safe — like in the cloud or in a fireproof safe — means you can get your claim started faster and more easily.
That way, your RCFE can get back to serving its residents as quickly as possible — with minimal financial losses.
To learn more about what commercial property insurance can do for your facility, contact our team today by calling (805) 413-5668. Or if you’re ready to get started with coverage, you can request a quote online.