While incredibly rewarding, owning or managing a Residential Care Facility for the Elderly (RCFE) also provides a range of unique challenges. Ultimately, you are tasked with taking care of your residents and offering a comfortable and secure living environment all while controlling costs as much as possible. Thankfully, there are ways to obtain the comprehensive RCFE insurance coverages you need to protect your residents and facility while staying within budget.
General & Professional Liability Insurance
Liability coverage is among the most vital (and required) types of insurance policies for RCFEs. General Liability Insurance assists in safeguarding you against claims submitted by third party individuals because of sustained injuries, as well as damage resulting from activities at the facility. What makes this kind of insurance so incredibly useful is that it can cover you for medical costs, legal fees, lost wages, and more if a situation does occur. You’ll also want to have Professional Liability Insurance in place, which protects your operations if claims arise due to employee malpractice or negligence. With liability insurance in place, you’ll be able to focus on keeping your facility running strong and providing residents with the top-notch care they deserve.
Workers Compensation Insurance
It is also important to protect your staff so that they can continue to attend to resident needs day in and day out. This is where RCFE Workers Compensation Insurance comes in. In the unfortunate case where employees become injured or ill on the job, these insurance policies can help with medical expenses, lost wages, required rehabilitation costs, and more. Workers Compensation Insurance gives peace of mind to you, and to your employees as they get back on their feet.
Commercial Property Insurance
Another aspect of keeping your residents happy and safe is making sure that your facility is protected with Commercial Property Insurance. This coverage is specifically geared toward covering damage to the buildings and equipment that comes as a result of fires, severe weather, vandalism, and even theft. Additionally, it can help get you paid back for repairs and new furniture if something happens at the facility. Safeguarding your facility so that residents can continue to live in a safe and comfortable space is absolutely worth the investment.
InsureMyRCFE Can Help You Protect Your Residents, Staff, and Facility
Maintaining all-inclusive insurance coverage for your RCFE is paramount in keeping your residents safe while also reducing losses as much as possible if an unforeseen event does transpire. If you’re in need of insurance policies for your RCFE, or are considering changing your existing coverages, InsureMyRCFE is at your service. As a leading provider of RCFE insurance for facilities in California and surrounding states, we make it simple to get the policies you require. To learn more and discuss your particular needs, please don’t hesitate to give us a call at (805) 413-5668.
