Do you need day care insurance? Do children get runny noses? Well of course they do and if you run or own a day care center whether in your home or another facility you need to make sure you are properly insured. No matter how careful and conscientious you are sooner or later one of those little guys is going to slip away and get themselves hurt. It's just the nature of kids. When parents entrust the health, safety and well being of their children to you and your other day care employees it isn't a small undertaking. While those children are in your day care you are fully responsible for them. That is an awesome responsibility and trying to do that without liability insurance is like walking a tight rope without a net, something is bound to go wrong sooner or later. What is the worst thing that could happen? How about you are sued for all you are worth and then some!
Liability coverage for your day care can protect you and your assets. You will need to select a policy limit that fits your day care situation, which is the maximum amount the insurance company will pay for any covered claims. Don't assume that if you are running your day care out of your home that your homeowners insurance will be sufficient. Many plans exclude coverage for any businesses that are run out of your home. Check with them first and then it will help you decide on what further liability coverage you will need. Look at the highest coverage limits you can afford. Many times lawsuits and claims involving children are very emotional and can lead to larger monetary awards.
Insurance companies can help you out in more ways than just providing the coverage. They can, in the event of a lawsuit, use their expertise to defend you in court and then step in to pay any covered losses. They also can help you determine what steps need to be taken to reduce the chance of an accident or loss at your daycare. They might require CO detector alarms where the state might only require smoke alarms. They might counsel you on the right kind of playground equipment or ground covering to have or exclude from your day care. Their experience in these matters is priceless and when it comes to the safety of the children in your day care you can't be too careful or too picky.
How do you select the right insurance company for your day care? If you already are working with an independent insurance agent or an insurance agent with a large insurance company you can check with them first. An independent agent will have many companies to glean plans from where the other agent will only have his companies to choose from. Look for the following in any insurance company options that are suggested to you:
- An insurance company that has a high rating.
- An insurance company or agent that writes for other child care facilities or businesses or that offers a special program for the day care industry.
- An insurance company that knows about risk management and loss control to aid you in maintaining a safe and accident free environment.