General Insurance Information on Home Insurance Continues

Assisted-living residents may lose important insurance coverage

Elderly people who sell their homes and move to assisted living centers may not realize that they're losing an important insurance protection -- personal liability insurance.

Liability insurance protects policyholders from financial losses when someone on their property is hurt or has personal property damaged. Policies usually cover medical expenses and costs associated with lawsuits. Most have personal liability insurance through their renter's or home insurance policies, with coverage typically between $100,000 and $300,000, according to the Insurance Information Institute.

But that liability coverage disappears when someone moves into an assisted living center and no longer carries homeowner's or renter's insurance.


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