Is your Care Home Insurance due for renewal?

Whether you operate a Residential Care Home or Nursing Home, have residents that are elderly or have learning disabilities, you need to ensure the care home insurance cover is in place correctly.

It’s easy to get different care home insurance quotations as a quick Google search provides a whole host to choose from but when you call them what do you need to tell them to get the best insurance cover and price?

Here’s our top 7 things you need to check before you get a care home insurance quote:

  1. Sums Insured – make sure you don’t just read off the current sums insured from your existing insurance and think about how much it would cost to replace all the contents in your care home, plus the residents own personal effects, to ensure they are covered.
  2. Buildings valuation – when was the last time your building was valued for re-instatement? Get a desk top valuation carried out and you may be surprised that your current cover is under insured as the cost of building materials and labour have greatly increased.
  3. Gross Revenue – your Business Interruption section of cover is vitally important so make sure you know your Gross Revenue forecast for the next 12 months and ideally for the next 24 months so as to ensure that you have sufficient cover.
  4. Claims – what are the dates, circumstances and costs paid or estimated by your current insurers? To ensure that you disclose all of the correct information you should check this before obtaining alternative quotes.
  5. Residents – you should clearly define the category of resident in your care. All too often we see insurance cover that have the wrong description of the residents and services that are actually provided.
  6. If you last CQC inspection asked for improvement s make sure you have an updated and hopefully fully completed CQC action plan to demonstrate your progress.
  7. Check with your co-Directors and business partners if they have had any CCJ’s, convictions or insolvencies in the recent past – they may not have mentioned it and it must be disclosed to insurers.

One bonus tip

8. Call Brents Insurance for Care Home Insurance cover with a panel of insurers including our exclusive Integrity Care policy we can offer you independent, impartial advice and arrange your care home insurance to your satisfaction.