When operating a daycare, getting business insurance coverage to protect your daycare should be top priority.
General liability insurance protects your business from financial strife of customer's legal or medical costs for injuries while on your business’s property. This will cover your legal defense and the costs associated with the loss if you are found liable, up to your policy limits.
Property damage, whether it is from fire, extreme weather conditions, or natural disasters, flood from severe rainstorm, property insurance would cover the cost of repairing or replacing your business-related property including structural damage to your building and the business materials you store there.
Workers compensation insurance is required by law in most states of the US. If an employee is injured in a work related accident, workers compensation will pay for their medical care and recovery expenses. Your business will also not be responsible for the damages or sued by your employee.
Professional liability insurance, also referred to as Errors and Omissions insurance, covers lawsuits related to your work, product or service. This insurance provides coverage in the event that a business is held legally liable for damages which are cause by your product, improper advice or negligence.
If one of your employees is accused of or found to be sexually abusive to a child under your care, this liability coverage can help protect your business financially from any fines, legal costs or medical expenses you are required to pay.
Injuries, damages, and lawsuits arising from accidents involving vehicles your business uses to transport kids will need to be covered. This is usually a requirement for home daycares with business vehicles.
Whether you operate your daycare business out of your home or a location far from it, you’ll really want to think long and hard about getting daycare insurance. In many cases, in fact, coverage is required. There are many instances that may arise where your daycare business may face a liability lawsuit. Even if the charges are dropped, the ensuing legal defense fees can be quite expensive.
Daycare insurance is a specific type of business insurance that was designed to meet the unique needs of childcare businesses. The daycare industry continues to grow these days as more and more families move to become two-income households. And whether it’s a modest in-home daycare or a mega-care center with a bunch of rooms, it needs to be protected.
Running a daycare without insurance is taking a mighty huge risk. Our broad, tailored coverage options and enhancements are based on our deep knowledge and experience in the daycare insurances, and specifically designed to meet the needs of our customers.
At Business Insurance Agency, we will take the time to get to know your business and assess the risks involved in your business, and can assist you with the right coverage options you need at an affordable price.
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