Running a group home, assisted living facility, or other adult care center doesn’t leave a lot of down time. Between coordinating with care providers, monitoring residents, and keeping up the building, there’s not much time to worry about liability insurance. But having appropriate policies in place can greatly improve the long-term financial strength of your residence.
While lawsuits against adult care housing nonprofits are not common, when they do happen, they can be financially devastating. Even if your facility is found to have done nothing wrong, defending yourself in court can come with several thousand dollars in legal bills. And if you are assigned liability, the judgment or settlement against you can be crippling. The good news is that liability insurance can pay for many of the costs associated with lawsuits, including attorneys’ fees and judgments or settlements.
For information on the kinds of insurance that may help keep your assisted living facility financially stable, click on the coverage links below.