Care homes cannot afford disruption to their business operations—and neither can their patients and residents. As the owner or manager of a care home, you are responsible for ensuring your business remains economically viable so it can continue offering quality care to those who need it. Patients’ and residents’ well-being depends on the success of your business. You’ll be able to keep your care homes running with our care home insurance.
But your care home’s economic viability can be seriously threatened by rising costs, shrinking occupancy levels and a constrained staffing environment. With these hazards hampering your profitability, one disaster could close your care home’s doors for good.
Purchasing a comprehensive care home insurance policy can fortify your business against these hazards and keep your doors open in the face of a disaster. Use this overview of the main covers in care home insurance to craft the policy best suited for your business.
There may be minimum insurance requirements set out by the Care Quality Commission (CQC), the independent regulator of health and social care in England, the Care and Social Services Inspectorate in Wales, the Care Inspectorate in Scotland and The Regulation and Quality Improvement Authority in Northern Ireland. Rahon Insurance will help you stay compliant with your specific regulator.
Property and Contents
Property damage cover typically includes a wide breadth of protection for buildings and contents. All care homes should consider ensuring the full replacement value of buildings and equipment to minimise the negative economic impact of an insurable disaster such as fire, lightning or malicious damage.
Liability Cover for your Care Homes
Being responsible for the well-being of other people exposes your care home to a barrage of liabilities every day. One slip-up, as innocent as it may be, can seriously damage patients’ health. To cover this constant liability, insurers offer care homes several different liability policies, including:
- Employers’ liability is compulsory for all businesses in the United Kingdom with employees. It covers your liability for employees’ bodily injury or diseases generated by their employment. Your policy must cover you for at least £5 million and come from an authorised insurer.
- Public liability indemnifies you in the event of any third-party injury or property damage arising from the business. This cover is essential, as you will most likely have members of the public visiting their family members who are patients.
- Product liability covers you for damages, claimants’ costs and your own costs for accidental injury or damage caused by supplying products. This could encompass food or medical products.
- Malpractice liability is available as a separate policy. It covers your legal liability for accidental injury or illness caused by errors or omissions when providing professional medical services.
Because many care homes deal with abuse coming from both patients and employees, make sure to obtain a policy that covers liability arising out of abuse.
Care Home Insurance Extensions
Not all care homes are the same—some are big, some are small, some offer specific medical services that necessitate adherence to stricter guidelines. To satisfy these diverse needs, insurers provide several additional covers as extensions or stand-alone policies, including the following:
- Legal expenses
- Personal accident
- Personal belongings
- Engineering breakdown
- Employee dishonesty
- Data protection
Business Success and Quality Care
You cannot tend to patients without being financially stable—administering quality care is contingent on achieving business success. Trust the specialists at Rahon Insurance to provide you with robust insurance solutions. Leave the success of your business in our hands—so you can continue delivering quality, life-improving care. Call our experienced team on 01332 988522 or if you prefer, visit us in branch to discuss all your requirements: 36 Stenson Road, Derby, DE23 1JB.