A Commercial Property insurance coverage accompanies business personal property, building, and property of others. Get a quote today.
All Residential Care Facilities must have Commercial Property Insurance, Homeowners Insurance is not valid and usually excludes the operation of a Residential Care Facilities. You will need Commercial Property Insurance combined with the Liability Insurance to protect your unknown areas of exposure. Homeowners Insurance Policies will not pay for even the most standard claims if you are operating a Residential Care Facility in your home. It is imperative Residential Care Facility owners understand this.
Commercial Property Insurance
A property insurance policy insures your facility if damages occur because of events such as fires, storm damage and burst water pipes. It will help protect your building, inventory, furniture and equipment, landscaping and outdoor signage. Plans will also be available which cover the personal property of your own residents.
All companies require coverage for costly equipment, office space, equipment, etc., if it’s damaged by a fire or natural disaster, stolen, or vandalized. Office furniture, medical equipment, and other materials could be included from the California assisted living amenities insurance coverage.
Remember that Property Insurance is a “first-party” coverage, which means it provides for losses associated with the policyholder’s person or property.
Do not assume homeowners insurance will be sufficient to cover you; nearly every home insurance policy excludes business protection. Consequently, you need commercial property coverage to protect your facilities. Your CA assisted living insurance can also protect any vehicles your RCFE facility uses for business and workers’ compensation to safeguard your team against injuries on the job.