Americans are living longer and longer. In order to accommodate the needs of an aging population, the senior living industry is developing more living alternatives for this segment of society. One such example is Continuing Care Retirement Communities (CCRCs). It is important for these facilities to carry CCRC Commercial Insurance.
What is a CCRC?
A Continuing Care Retirement Community is a self-contained facility that can provide care for different stages of aging. Initially seniors may only need and want an independent living facility. Later they may need assisted living and eventually skilled care. A CCRC can accommodate all these stages at one location. They are designed to provide flexible care and a variety of companionship, meal and activity choices for their residents.
The importance of coverage
Like any other business, CCRC’s should have insurance coverage. Their needs are unique in some ways due to the population they serve and the type of facilities they operate. CCRC Commercial Insurancecan provide important coverage for different aspects of operating these facilities. Some of the different types of coverage that can be included in the policy include general liability, sexual misconduct, and commercial property.
Higher life expectancies and active lifestyles make it possible for people to live 20-25% of their lives in retirement. Continuing Care Retirement Communities are designed to accommodate the evolving needs of seniors. It is essential that they have CCRC Commercial Insurance.