Care Home Insurance

Employers Liability Cover – As an employer you are legally required to have Employers Liability cover. This covers you for claims bought against by an employee as a result of bodily injury or disease caused in the course of their employment. Your insurer will indemnity you for your legal liability to pay compensation and/or costs and expenses. ­­

Personal Accident Cover - This is like a benefit policy, which can be added to some policies or taken out as a standalone policy but is not a legally required cover like Employers Liability. Personal Accident cover can be taken out for all employees or certain key members and cover can be provide on a 24 hour basis or Occupation basis meaning whilst they are at work only .  Cover is provided for certain accidental bodily injuries detailed in the policy at a specified limit.

Professional Liability - This covers claims brought against you for financial loss and is also known as Professional Indemnity. For example if you help service users with completing benefit forms or provide any financial advice and following that advice they allege they suffered a financial loss and could look to peruse a claim against you for that.

The building sum insured is not the value if you were to sell the property but should represent the re-build cost of the buildings which should take into account the full & current replacement cost of the buildings, inclusive of all professional fees. ­­

This should be reviewed annually to take into account inflation costs. It is also recommended a professional valuation for the rebuild cost is carried out at least every 5 years or possibly more frequent if a heritage listed building to ensure adequate insurance in in place and you are not underinsured.

‘Claims occurred’ policies covers claims that have occurred during a period of cover even if the claim Is made after the cover has expired or cancelled. ­­

‘Claims made’ policies provide cover for claims made against you and reported to the insurer during the policy period only. Claims notified after the expiry of this period – for example if the policy has not been renewed or if you have moved to another insurer – will not be covered unless the new insurer agrees to provide cover for these historic years (Known as Retroactive cover).

The cost of Care Home Insurance can depend on a number of different factors such as; ­­

• Number of service users in your care
• The rebuild cost of your property
• Value of contents within the property
• Type of care you offer
• Your CQC Rating or Inspection Reports
• Location of your home or features within the property
• Turnover
• Claims history

Where Aldium4Care helps is because we are a specialist care home insurance broker we will take the time to get to know you and your business in order to make a quality presentation of your business to the Insurance market. We will liaise with them on your behalf to source the best deal available and present that back to you, Ensuring you have the right cover at the best price.

You can spread the cost of your care home insurance into monthly instalments through one of our finance providers. We can provide you with a full cost breakdown at the point of quotation should you wish to use this payment method. It is important to note that by using a finance provider you will pay more than if you paid in full as it will incur interest based upon the amount financed. A full quote breakdown will be provided.