Group homes provide a valuable service to the elderly and other members of society who need a little extra assistance in their day-to-day lives. A wide variety of employees and residents may work and live in a group home, making the task of creating a comprehensive insurance policy tricky. These are facilities that are not quite like any other, and so they present unique challenges to insurance underwriters attempting to draft group home insurance policies.
In general, group home policies need to take into account at least three different components: group home staff, group home property, and residents of the home. The needs of the staff include such things as worker’s compensation and unemployment insurance for layoffs. Group home property insurance protects the home itself, vehicles, and other property from things like theft, vandalism, and damage. Group home insurance also protects residents from accidents and injuries. Medical malpractice insurance and other types of insurance directly related to medical facilities are also often included in a group home insurance policy.
Finding an insurance company with experience in writing policies for group homes is essential to getting thorough coverage for your facility. If you are looking to purchase your first policy, make sure that you get your facility assessed and have a comprehensive assessment of risks drawn up to assist policy underwriters.