How Much Does Senior Placement Agent Insurance Cost? A Realistic Breakdown
- Jeff Schmidt
- 23 hours ago
- 3 min read
If you're a senior placement agent, you know that liability protection isn't optional—it's essential. But how much does it actually cost to insure your business?
Whether you're an independent agent or part of a franchise like CarePatrol, Assisted Living Locators, Senior Care Authority, or Oasis Senior Advisors, this guide will break down what you can expect to pay, why franchisee pricing is usually higher, and how to structure a policy that protects your agency and satisfies contractual obligations.
What Does Senior Placement Agent Insurance Cost?
Here’s a general range based on business type:
Solo, independent agents: $1,400–$1,800 per year
Franchisees: $2,000–$2,500 per year, due to additional requirements like Hired/Non-Owned Auto and Cyber Liability
Multi-agent agencies: May exceed this range depending on staff, states of operation, and risk exposure
Why Do Franchisees Typically Pay More?
If you’re part of a franchise such as:
CarePatrol
Assisted Living Locators
Senior Care Authority
Oasis Senior Advisors
…you likely have higher insurance requirements built into your franchise agreement.
Most of these brands require:
General liability and professional liability
Cyber liability (to address HIPAA/data risk)
Hired/Non-Owned Auto coverage (to protect against auto claims when driving your personal car for business)
$1M/$3M limits or higher
These additional layers of protection push most franchisee premiums into the $2,000–$2,500 per year range.
At CarePro, we’ve insured hundreds of franchisees and can build your policy to meet brand standards.
What Impacts the Cost of Your Policy?
1. Your State
Some states are riskier to insure due to higher litigation or regulatory exposure (e.g., California, Florida, Texas). These often come with elevated premiums.
2. Business Structure
Are you operating solo or with a team? Do you use contractors? Are you affiliated with a national brand? All of these affect your premium.
3. Coverage Types and Limits
A basic policy includes:
Professional liability
General liability
Most agents carry:
$1,000,000 per occurrence
$3,000,000 aggregate
Franchisees may also need:
Cyber liability
Hired/Non-Owned Auto
Employment Practices Liability (EPLI)
Workers’ Compensation (if you have employees)
Each add-on increases the cost slightly but helps close critical coverage gaps.
4. Prior Claims History
Clean record? Great—you’re more likely to get preferred pricing. A history of professional or general liability claims may raise your premium or limit your carrier options.
Sample Cost Breakdown
These are only estimates. Your actual cost will depend on how your business is structured and what limits you choose.
What Does That Premium Buy You?
A typical senior placement insurance policy may help cover:
Allegations of negligence, misplacement, or misinformation
Bodily injury at a facility tour or in-person meeting
Defense costs, attorney fees, and settlements (up to your policy limits)
Facility and referral network contract compliance
Risk management peace of mind
In short: you’re not just paying for paper. You’re paying for the ability to protect your future.
How to Avoid Overpaying for Your Policy
Here’s how to get the most value from your coverage:
✅ Work with a Niche Expert
General business insurance often excludes professional liability—or won’t meet facility/franchise requirements. Work with an agency (like CarePro) that understands the senior placement space.
✅ Bundle Strategically
Cyber, auto, or workers’ comp can often be bundled for efficiency and savings.
✅ Get Only What You Need
Don’t skimp, but don’t over-insure either. If you’re a solo operator in a low-risk state, you may not need the same coverage as a multi-state franchise.
Wrapping it All Up
Senior placement insurance isn’t just a regulatory checkbox—it’s a shield that may help protect your business from serious, unexpected claims.
Whether you're starting solo or working under a national brand like Assisted Living Locators, CarePatrol, Senior Care Authority, or Oasis Senior Advisors, the right insurance can help you stay compliant, win contracts, and sleep better at night.
Disclaimer: This content is intended for informational purposes only and does not constitute legal or insurance advice. Actual premium rates and coverage terms may vary by carrier, state, and business profile.
