Day Care Insurance / Child Care Services
Running a daycare is a wonderful way to support your community and your peers. It’s a lot of work but it can be great fun too. It’s also rewarding when you get to see so many different children growing up with happy memories of the time they spent with you. Day care and child care businesses have tremendous responsibilities to their clients. The business is being entrusted with a parent’s most valuable possession. The last thing you as a day care owner want to consider is accidents and hazards. They are a given in this business however, so the best step you can take is to make sure you have the right kind of commercial insurance.
Day Care Insurance (General Liability)
Kids have accidents. That is a well known fact of life that any parent or day care owner can testify to. As the owner of the business however, you can be held liable if a child is injured while they’re in your care. If a visiting parent is injured, you can be held liable for that accident as well. If the child or parent has personal property with them while visiting your child care center, you can be held liable if the personal property is damaged too.
General liability protects you from problems of this sort. It is a comprehensive small business insurance option that protects you from bodily injury liability, personal property liability, product liability, advertising liability and more. This insurance grows as your business grows and automatically covers new products, services and business locations as you add them.
Child Care Business Owners Policy (Bop)
A business owners policy provides your business with combined coverage. It includes general liability as well as property and asset protection. There are a number of different things that can be protected under a BOP.
Your physical business structures, such as the daycare centers themselves, are protected from loss with a BOP. If a storm damages the side of your building for example, the BOP will pay for repairs.
Physical structure coverage in a BOP includes outdoor assets you might have such as playground equipment, and the inside contents of your business structures as well. If your day care has specially designed kid’s furniture as part of it’s decor, the BOP will cover the expense of repairing or replacing those if they are damaged. Building improvements that you have made are covered. Interior business materials such as toys, art supplies and food are covered, as is the appliances in your daycare’s kitchen. If the air conditioner breaks down a business owners policy covers the cost of fixing that as well.
Intangible assets are also covered by a BOP. Valuable papers, electronic data files, specialized business software and accounts receivables can all be protected from damage or loss by a business owners policy.
Child Care Business Auto Insurance
Commercial auto insurance will protect your child care business if there is ever a business related car accident. If you transport children to school for example, or take them on field trips, you’re at risk of being in an auto accident. Business auto insurance protects the vehicle as well as the people involved in the accident.
Day Care Insurance – Workers Compensation
Your day care is required by law to provide workers comp insurance to all of your employees. This protects them from having to pay for medical care and expenses if they are ever injured while working.