What Are the Best Insurance Companies for Assisted Living Facilities?

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If you run an assisted living facility, your risks are different from those of other businesses. You need to ensure your property and liability coverage is up to par and have insurance that covers the unique risks associated with providing care to seniors.

But with so many insurance companies out there, which ones should you choose?

Some of the factors you'll want to consider when choosing an insurance company for your assisted living facility include:

The types of coverage they offer
The size of their coverage limits
Their reputation and financial stability
The cost of their premiums

To help you make the best decision for your business, we've compiled a list of some of the best insurance companies for assisted living facilities.

Recommended Policy Types for Assisted Living Facilities

Type of Insurance	What It Covers
Commercial General Liability	Covers third-party bodily injury and property damage claims arising from your business operations.
Professional Liabilityurance	Protects you from third-party claims of negligent acts, errors, or omissions in the course of your professional services.
Property Insurance	Helps to cover the cost of repairing or replacing your business property if it's damaged or destroyed by a covered peril.
Business Interruption Insurance	Covers lost income and expenses if your business is forced to shut down due to a covered event temporarily.
Workers' Compensation	Provides benefits to employees who are injured or become ill as a result of their job.
Individual/Personal Liability	Offers protection if you're sued for damages that occur due to your personal actions.
Alleged Sexual Abuse and Molestation Liability	Helps to cover the costs of defending against and settling third-party claims of sexual abuse or molestation that occur at your business.
Alleged Assault & Battery Liability	Helps to cover the costs of defending against and settling third-party claims of assault or battery that occur on your business premises.
Business Auto	Protects your business vehicles from physical damage and liability risks.

Best Insurance Companies for Assisted Living Facilities

Here are some of the top companies providing insurance to assisted living facilities.

#1 Philadelphia Insurance Company

★★★★★ - Elemental Risk Rating

Philadelphia Insurance Company (PHLY) is one of the country's largest and most well-recognized insurance carriers. They offer a wide range of commercial insurance policies specifically designed for assisted living facilities.

Some of the key features of their assisted living facility insurance policy include Coverage for property damage, business interruption, third-party liability, workers' compensation, and more. They also offer a variety of endorsements that can be added to customize the policy to your specific needs.

PHLY is known for its superior claims service, offering 24/7 support and quick turnaround times. They're also financially stable, with an A.M. Best rating of "A++" (Superior).

Most importantly, they have a long history of working with assisted living facilities and understand the unique risks and exposures you face.

#2 The Hartford

★★★★ - Elemental Risk Rating

The Hartford is one of the largest insurance companies in the world and has an A+ rating from AM Best. The company offers a variety of insurance products for businesses, including those in the assisted living industry.

Some of the coverage options The Hartford offers for assisted living facilities include commercial general liability, property insurance, business interruption insurance, workers' compensation, and individual/personal liability.

Since 1810, The Hartford has been providing insurance coverage to businesses and individuals. They have a long history of financial stability and customer satisfaction. Besides insurance, The Hartford also offers a variety of financial services, such as investment and retirement products.

#3 Liberty Mutual

★★★★ - Elemental Risk Rating

Liberty Mutual is another large, well-known insurance company that offers a variety of insurance products for businesses, including those in the assisted living industry. Liberty Mutual's coverage options include commercial general liability, property insurance, business interruption insurance, workers' compensation, and individual/personal liability.

Liberty Mutual has been in business for over 100 years and is one of the largest insurance providers in the world. They're known for their superior claims service and have an A.M. Best rating of "A" (Excellent).

Liberty Mutual is a great option to consider if you're looking for a reliable and well-established insurance carrier.

Have Questions?

If you have any questions about the insurance coverage options available for assisted living facilities, please contact us. We're here to help you find the right policy for your business.

We also offer a variety of other resources that can help you learn more about the assisted living industry, including an industry overview, market research, and business tips.

Thank you for your time!