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Insurance For Daycare

Insurance For Daycare

3 Types Of Insurance For Daycare You Need To Know

A daycare facility is a business place and like in every business place, buying insurance is important. Even if it is a home daycare facility, you'll be required to buy home daycare insurance that will provide cover for possible property damages and physical injury. The insurance policies available for licensed and unlicensed facilities are different.

Unlicensed Home Daycare

If you own an unlicensed daycare facility, keep in mind that your regular homeowner's policy will not provide coverage for it. Your insurance company can provide that extra cover for more premium or add options for a condominium policy or limited home daycare insurance without extra premium. This will depend on the agreement between you and your provider.

It is important that you learn all the available policies and read their terms fully before you pick a cover. Find out if your current policy can cover your home daycare facility.

Licensed Daycare

Unlike when you're operating an unlicensed daycare, operating a licensed daycare will require that you purchase a business policy that will cover the daycare facility. The key attraction in this coverage is that paying for a separate policy for daycare will cover for things like child abuse which will not be in your original policy.

Types of Insurance For Daycare

There are about three main types of home daycare insurance policies which are as follows:

1) General Liability Policy

The general liability policy provides childcare coverage for the children within the facility. It covers things like child abuse and field trips without extra cost.

2) Homeowners Or Renters Insurance

A homeowners insurance or renters insurance will provide full coverage for child care within the facility, but it will not provide any coverage for child abuse.

3) Professional Errors/Liability and Omissions Insurance

With this insurance policy, you will have maximum coverage within the daycare insurance policy. Apart from the typical coverage, your insurance will also cover things like negligence in child care. The following aspects may also be included in the policy: child abuse that ranges between $50,000 to 100,000, and personal injury. It covers for accidents in the swimming pool on and off the premises. This type of insurance for daycare covers for field trips as well. It covers for auto liability that is related to the transportation of children. It covers for medical expenses that may be incurred as a result of accidents, and it can range from $5,000 to $20,000 per individual. It covers for accidental deaths that occur on the premises. This home daycare insurance also covers legal costs in the case of a lawsuit. If a parent decides to sue the organization for injury or sickness suffered by the child.

Finally, it is important that you take note of the insurance forms which are: claims form and the occurrence form. When you are picking out a form, it is advisable that you pick up the occurrence form because it covers for claims that are reported even after the expiration of the policy. Protect your business and maximize your returns on insurance for daycare.

 

Day Care Insurance Services, Inc.
800-624-0912
16601 Ventura Boulevard, Suite 500, Encino, CA 91436-1921

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