Opening a daycare can seem overwhelming. Daycare owners must not only watch out for the risks of a normal customer service business, but also for kids generally being their rambunctious selves. So, as a daycare business owner, how can you protect yourself from the specific day-to-day hazards? Let’s take a look at how to get the best daycare insurance for you.
How to get daycare insurance.
1. Think about your risks.
There are numerous risks to consider at a daycare – both for parents and children. So, to start searching for the right insurance, you’ll need to ask yourself about the situations you could be held liable for. For example:
- What if a child is seriously injured?
- What if a parent is injured while visiting the property?
- What if my employees are injured at work?
- What if something happens to my building, and I have to close for repairs?
- What if someone is robbed or their car is broken into in my parking lot?
- What if I give out a snack that makes a child sick?
- Can and have I properly secured cleaning products and other materials out of the reach of the children?
- If I offer shuttle services, what happens if I’m in a wreck?
These are just a few of the things that daycare owners will have to consider before opening and during their operations.
2. Consider the coverages you may need
Once you’ve assessed the daily risks you may face, it’s a good idea to get a general sense of the insurance that can help if you’re faced with those dangers. Typically, businesses will need:
General liability coverage can help businesses with expenses, such as medical bills and legal fees, if a visitor is hurt on the property. (For your daycare, make sure you understand who would be covered under your general liability policy.)
Property coverage can help repair your company’s building if it is affected by a covered loss like fire. Remember, though, that commercial property insurance doesn’t cover all disasters. For instance, floods are typically not covered by a business insurance policy. Coverage for that requires an entirely different flood insurance plan for businesses.
Speaking of disasters, there can be tons of continuing expenses that occur while you’re rebuilding your business. So, you’ll want to consider business interruption coverage to help cover costs such as lost income to your daycare or expenses associated with relocating your business temporarily if you’re hit by a covered loss.
Another important coverage to consider (in fact, you may be required by law to have it) is workers compensation insurance. If one of your employees is hurt on the job or for job-related purposes, that would be terrible, but workers’ comp can help pay for their medical bills and part of their salary while they’re out.
Professional liability coverage can help cover legal costs due to an employee giving out improper information or neglecting a child in the classroom. Even if the employee had taken the proper measures and care, if a parent sues, professional liability insurance is a great coverage to have to cover the costs of defending the employee and your daycare business.
Commercial auto insurance
If you want to take your tykes on field trips, you’ll need to consider commercial auto insurance coverage for your daycare van or other mode of transport. Personal auto policies are typically built for handling the risks of casual driving and commutes, not other business purposes. So, having a commercial auto policy when using any type of vehicle for business purposes can be a great investment.
Other coverages to consider
Although the previous types of common business insurance coverages can cover daycares in different ways, there are still certain, specific policies that daycare owners must also consider to properly protect their company, such as:
- Abuse & molestation liability
- Accident medical insurance
- Cyber liability
- Crime insurance
- Umbrella insurance
3. Get quotes on daycare insurance
Thinking about these risks, you’ll want to make sure you’re getting the daycare insurance you need while paying the best price. It’s important to properly manage the risks of parents, visitors, and children to your daycare. However, sifting through various types of insurance plans and carriers with different types, amounts, and conditions for coverage can seem like a stressful, never-ending process.
That’s why our experts strive to make the insurance process as easy and pleasant as possible with these 5 steps:
1. Contact us.
We want to make sure we’re easily accessible to you from the very start. So, give us a call, fill out our online form, or LiveChat with one of our specialists – whichever is easiest – so that we can start to understand your business.
2. We’ll have a quick chat.
Once we’ve heard from you, one of our agents will have a quick conversation with you to hammer out some minor details that they’ll need to get you the best insurance for your business.
We know that getting to know your business inside and out is the best way to get the most accurate rates and shop for the perfect coverage fit for you. However, we also know that you’re busy – with tots, parents, and more. So, our agents are accessible through phone, email, or text message. Just let us know what you prefer!
3. Our experts start shopping for your quotes.
Like we’ve said, we know that you’re a busy bee. So, we’ll take the time to shop for the daycare insurance that fits you. That way, you don’t have to take tons of time out of your busy day to get wrapped up in insurance coverage options. Just leave it to us!
Our agents have tons of experience and tons of connections to the best of the best insurance carriers and plans. So, you can rest assured that after we get to know your business, we’ll pair you with the best carriers and plans that fit your needs.
4. We’ll go over your options.
Once we’ve gotten your daycare insurance quotes, we’ll present you with only the best business insurance options. Our experts will go over the best policies that can handle your specific risks. We want you to know how your insurance will work for you and that you’re getting the best rates on quality coverage.
5. We’re always here to help!
After we’ve paired you with your perfect policy, don’t worry, we’re not going to just ride off into the sunset. Our agents are always here to help if you have questions, concerns, or changes to make with your policy. We’ll even shop your rates year after year so that you can rest assured that you’re getting the lowest rates on great daycare insurance.
Getting your daycare properly insured can seem completely overwhelming, but our specialists are here to make business insurance easy. To start getting free, customized quotes on affordable daycare insurance, call our experts today, fill out our online form, or LiveChat with an agent today!