Factors Affecting Group Home Insurance Policies

Group home insurance refers to insurance coverage for businesses that provide care in a residential group setting to individuals that are suffering from physical or mental disabilities.  Residents often require varying levels of assistance with activities of daily living on a continuous basis.  Delivering such care comes with many risks for group home care providers.  Identifying areas of risk exposure and recommending insurance coverage strategies to your clients can be instrumental in protecting and sustaining a group home business.

Group home insurance  What is Covered by Insurance?

 Insurance coverage offered for group homes typically includes general liability insurance, property insurance, professional liability, workers compensation liability, and group transportation coverage, among other forms of coverage.

Factors Influencing Coverage

When providing consultation to a group home provider, obtaining information about the nature of their business may influence their insurance costs.  There are several factors that insurance companies consider when determining the cost and coverage of a group home facility:

  • Condition of Facility
  • Number of Facilities
  • Regulatory Compliance
  • Type of Services Provided
  • Credentials and Experience of Staff
  • Number and Level of Care for Residents
  • Years in Business

Assessing risk for group home insurance encompasses accounting for various aspects of business operations.  Managing risk and containing costs are often the primary goals of obtaining insurance.  Companies that provide coverage often offer risk evaluations and can propose programs and insurance policy packages that are customized to the specific needs of a given group home facility.