Care Home Insurance

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What is care home insurance?

As a provider of care services in the UK, care home and nursing home insurance is crucial to ensuring your residents, patients and staff are protected in the event something goes wrong. However, it’s also there to protect you, the care home owner.

Providing a care service brings with it a higher day to day risk than many other businesses. Care homes must adhere to legal compliances, and often work with a number of professional services and staff. And with elderly and vulnerable people living under your care, ensuring you have the right insurance protection in place is crucial.

Care home insurance is like any other insurance – it protects you financially in the event of something unexpected. This ensures you can continue providing the best level of care to your residents, with minimal disruption. As a specialist form of insurance, you can tailor care home insurance to all sorts of businesses, from nursing homes to retirement homes, and assisted living accommodation of all shapes and sizes.

Legally, if you have employees, you are required to have employers’ liability insurance cover for at least £5 million, however, most policies cover for £10 million as standard. For larger organisations with many employees and residents, most policies will recommend cover over and above £10 million, to ensure an adequate cover level.

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Complete our short, one page form and receive quotes from up to 5 specialist care home insurance providers over the phone. Tailor your policy to suit your requirements with expert advice.

Types of care home insurance explained

As a specialist business insurance, there are lots of customisable elements to a care home policy. The standard cover levels include buildings and contents, as with most other insurance policies. After those, you can tailor and customise to your business’ specifications.

Commercial property insurance

Care home insurance falls under commercial property insurance, as you run a business from the property. Within this, the insurance is broken down into buildings and contents cover.

  • Buildings cover

This protects the building(s) associated with the business from damage, such as fire, flooding and subsidence. It covers the bricks and mortar of the building itself, including walls, floors, fixed or plumbed-in goods, car parks and sometimes maintained gardens.

  • Contents cover

As with domestic home insurance, contents cover protects the items within the buildings. This includes things like furniture, kitchen crockery and cookware, clothing, electronics and books. It can even cover food in fridges and freezers. The best way to think about contents insurance is to imagine what would fall out if you were to turn the buildings upside down. Contents insurance for care homes can also include cover for residents’ belongings.

Employer’s liability insurance

Under the Employers Liability (Compulsory Insurance) Act, it’s a legal requirement for any business who employs at least one person to have employer’s liability insurance. This protects your staff in the event of something unexpected happening.

Public liability insurance

As your business has members of the public under its care, as well as friends and family members coming to visit, public liability insurance is very important. This protects you in the event of an accident or injury to a member of the public or their property. From a stone flicking up and breaking a visitor’s car window to someone falling over and injuring themselves, public liability has it covered.

Care home insurance can also include more specialist cover within public liability insurance, such as treatment liability and abuse cover, which protects the business if allegations of sexual, mental and physical abuse on residents are made.

Stock cover

If any stock is stored on the premises, such as medications, bedding and blankets and uniforms, stock cover can protect these items against damage and theft.

Business interruption insurance

If something goes wrong and the business’ income goes down – for example, if a resident’s room floods and they move elsewhere while the room is repaired – you can ensure the income continues as normal with business interruption insurance. This allows you to continue paying your staff and running the business smoothly.

Cyber liability

As care homes tend to store personal data on their patients, staff and suppliers, cyber liability insurance is there to cover the risk of malware attacks and cyber crime. As well as financial protection, cyber liability insurance often also includes a Public Relations team, who can help you manage the situation in the event of an attack or data leak. 

How much does care home insurance cost?

As with all insurance premiums, the cost will vary depending on the business and the level of cover it needs. Here are a few things that can determine how much your quotes will be:

check Nature of the business

Different types of care providers come with different risk profiles.

check Number of employees

Higher numbers of employees can present higher risks for insurance providers

check The level of cover

Make sure you specify exactly what the care home needs, so you don’t end up paying for unnecessary items.

check Voluntary excess

If the quote is really expensive, try increasing your voluntary excess. Make sure to keep it realistic though, as you will need to be able to afford it in the event of a claim.

check Property location, size and age

Your property’s characteristics will determine how much risk it represents

check Security

Make sure to check all CCTV cameras, burglar alarms and locks are up to date and working.

check Claims history

Policy holders that have not claimed on their insurance previously may be deemed to be less of a risk.

check How you pay

Just like with any insurance, often if you can stump up and pay annually, rather than monthly, it’ll be cheaper.

Care home insurance FAQs

Is care home insurance a legal requirement?

While care home insurance specifically isn’t a legal requirement, anyone who has employees must legally have employers’ liability insurance. Every care home employer in the UK is legally required to have cover for compensation of at least £5 million. Every day that you don’t have the above will result in hefty fines.

Can I buy care home insurance for multiple properties?

Yes, you can. Your two main options are to insure each property individually, which is less complex but may be slightly more expensive. Or you can buy one policy, covering multiple care homes.

Can you pay for care home insurance monthly?

Absolutely. Nearly all insurance policies today allow you to choose to pay monthly or annually. While paying monthly is easier, if you can afford to, paying annually tends to make policies slightly cheaper.

Written By Michael Foote, Insurance and Finance Expert

Michael Foote is the founder of Quote Goat and has over 13 years experience working in the finance, insurance and currency sectors. Since launching Quote Goat he has appeared on TV as well as many of the largest online publications including Forbes, The Telegraph and The Metro. Prior to Quote Goat, he worked in finance in the city for a number of firms including HSBC.