The rising cost of Care Home Insurance

In recent years Care Home Insurance premiums have never been cheaper with many Insurers competing to gain your business.

As well as competition the volumes and cost of claims had been falling, possibly in response to improvements in care standards, training and Health & Safety matters.

However, Brents Insurance is aware that the Care Home Insurance market appears to be changing. Several Insurers have experienced great increases in claims being made and especially with employers liability claims for slips, trips and injuries.

One Insurer was quite clear that their increase in claims was partly down to larger groups under financial pressure  now making claims where in better economic times they would have paid for some incidents without involving their care home insurer.

When looking at your care home insurance renewal in 2013 it will be tempting to move if a lower premium can be found but the same considerations need to be made what is the Policy cover giving you in addition to the sums insured on the Schedule. More importantly you need to find out what is it not giving you! If you need help checking your care home insurance Brents Insurance will offer you a free review.

Once the cover has been checked careful thought should go to who the actual Insurer is and what their experience is in the care sector. We have seen a few schemes in the market where the Insurers providing the cover have little experience insuring care homes and may not have specialist claims knowledge to provide the service you and your residents need in a catastrophe claim. Again Brents insurance can offer help and advice in respect of the quality and experience of the Insurers providing your quotation.

Of course you could always ask us to provide your quotation, we would be only to pleased to assist.