As someone who owns or manages a Residential Care Facility for the Elderly (RCFE), you have a range of responsibilities to handle. One of these obligations is making certain that your facility, and operations in general, fully adhere to all relevant state and local statutes regarding insurance policies. As a leading insurance brokerage for RCFEs in California, InsureMyRCFE is here to help you understand these required coverages. It is our hope that knowing these insurance requirements will assist you in keeping your facility operating as needed while also safeguarding you and your business in the event problems arise.
Liability Insurance Helps Keep Your Facility Running Strong
One type of insurance you’ll need for your RCFE is general liability coverage. These specific policies are vital for protecting you in cases involving bodily harm, damage to property, and a number of other situations that may transpire over the course of day-to-day activities. If you end up needing to go to court to defend yourself against submitted claims, general liability insurance can also take care of the legal costs involved. There is also professional liability insurance, which is meant to cover matters of employee misconduct such as neglecting resident needs, failing to follow established procedures, and anything else under the umbrella of care-based mistakes.
Safeguard Your Employees with Workers Compensation Insurance
Besides general and professional liability, workers compensation insurance is also required for your RCFE operations. These policies are essential for protecting your business and staff if someone is injured while performing their work duties. Workers comp provides peace of mind for you and your employees, as it keeps your RCFE running and provides financial assistance for the injured staff member as they work to get back on their feet.
Commercial Property Insurance Protects Your Buildings and Equipment
Another type of insurance you’ll need for your RCFE is commercial property insurance. This policy offers coverage for your facility’s buildings as well as the various pieces of equipment contained within. Commercial property insurance can provide you with support if your facility is damaged (or otherwise negatively impacted) as a result of earthquakes, flooding, fires, property defacement, or stealing.
Partner with the Right Insurance Broker
Having worked with many RCFEs over the years, we understand that managing insurance requirements can seem a bit overwhelming at times. That is why it is worthwhile to find an experienced, skilled, and responsive insurance broker that can guide the process along and take as much stress off your shoulders as possible. Even after you have your policies set up, you’ll want to regularly review them with your broker to help ensure that your facility remains sufficiently safeguarded over time.
At InsureMyRCFE, we make it incredibly easy for RCFE operators to get the comprehensive and cost-effective insurance policies they need. We take great pride in what we do, and would welcome the opportunity to speak with you about your RCFE insurance. Please don’t hesitate to give our team a call at (805) 413-5668.