How to Choose Insurance When You Move to Senior Living


More and more experts are recommending that residents of senior living communities, nursing homes and assisted living facilities purchase personal liability insurance to protect their personal property and to protect themselves from lawsuits.

For pennies a day, these experts say, seniors can get the protection they need to increase their peace-of-mind in a senior living community. After all, one of the biggest reasons people opt to “right-size” into senior living is for greater security in a number of areas of life, including finances.

Because this is a new industry catering to seniors, however, it’s also ripe territory for seniors and their loved ones to be ripped off. Here are some ways to make sure you’re getting the coverage you need from a reliable company.

Ask Senior Living Staff About Insurance
Before you move in, ask the staff at the senior community if they have a company they recommend. In some rare cases, your property may be protected by the community’s own insurance; you’ll never know until you ask.

Talk to Your Broker
Chances are, you have an insurance agent or broker you’ve worked with most of your life, who may have insured your home and car. If that company doesn’t supply personal property insurance, your trusted agent might be able to recommend a company that does.

Do Your Research
Because this is a relatively new industry, it is ripe for scammers. Check Angie’s List and the Better Business Bureau for listings on any companies you’re considering.

When you read Better Business Bureau listings, check carefully. Larger companies may have a lot of complaints because of the volume of people they work with, but if they complaints have been resolved, it may not indicate poor service. Check the categories of the complaints and how they were handled.

Consider an Inventory
Whether or not you had a home inventory for all your belongings in your house, a move to senior living is a good time to either get an inventory or revise your existing home inventory. You can have your loved ones help you with this as you pack or hire an inventory service.

If any of your items are damaged, lost, or stolen, either during the move or after you’re settled into your new home, your inventory will help you remember what you had so you can make an insurance claim more easily.

Talk to Your Financial Planner
Moving into senior living often means making a lot of changes to your personal finances. It’s a good time to consult your financial planner about how you plan to pay for any costs, including personal property and liability insurance.

Your financial planner may be able to recommend a reputable insurance provider; or he might even tell you that the coverage isn’t worthwhile if you don’t have a lot to lose or if you are covered by the senior community’s coverage.

You might see personal property insurance as just one more worry when you make the move to senior living. But the right coverage will give you the peace of mind you want as you move to an easier, less stressful lifestyle in senior living.

SeniorLiving.Net is a free service for families to use that are looking for senior care or senior living for a loved one. Call (877) 345-1706 to speak to your local Care Advisor about senior care providers in your local area.