Continued care retirement communities (CCRCs) are a new type of specialized living community for seniors. They are geared towards residents who do not need the constant, 24/7 care that a nursing home offers and who prefer independent living and a variety of choices. Essentially continued care retirement communities are much like regular residential communities, except that all the occupants are seniors.
CCRC insurance is an important component to protect by residents and staff of a continued care retirement community. CCRC insurance covers a variety of issues that may surround the day to day tasks of running a CCRC. Liability insurance is a major factor, as is workers’ comp insurance for the staff of the facility. If your facility conducts excursion for residents, auto insurance coverage is often factored into the policy for all vehicles owned by the CCRC. Finally, property insurance that guards the facility itself against fire, theft, and other unforeseen accidents is often written in to the CCRC insurance policy.
Finding a policy that is right for your
Since continued care retirement communities vary so much from one facility to the next, it is beneficial to get an insurance policy that is tailored to your specific needs. It may be a good idea to find an underwriter who is experienced in CCRC policies and discuss your options with him or her.