What Are the Most Common Mistakes People Make When Looking for Daycare Insurance?

If you run a daycare in the local area, you know there are lots of kids who are looking for a strong foundational education. Your daycare is in the perfect position to provide that to your children. On the other hand, there is also a chance that something could happen to your daycare. These bills could be expensive, so make sure you adequately protect your daycare with the right insurance policy. Unfortunately, many people make mistakes when they purchase daycare insurance. What are a few common examples? 

1. Purchasing the Cheapest Policy They Can Find

If you are trying to run a daycare, you know you have a lot of expenses. Therefore, you are trying to keep your overhead expenses as low as possible. One of the ways you can do this is by purchasing the cheapest insurance policy possible. On the other hand, this is a significant mistake. You may think that you have planned your daycare perfectly. Unfortunately, accidents still happen. Therefore, you have to make sure your daycare is adequately protected. If you purchase the cheapest insurance policy, there is a good chance that you don’t have a good insurance plan. 

2. Not Having the Right Type of Protection

Next, you also have to make sure you have the right type of protection. What types of protection do you need to have? If you are purchasing daycare insurance, you are probably trying to protect the building. Even though this is a valuable investment, there are others you need to protect as well. For example, what happens if your vehicles are involved in an accident? Will your insurance policy pay to fix the vehicles? Will your insurance policy pay to cover any medical expenses for your teachers or children? Make sure your insurance policy has the right types of protection.

3. Not Getting Enough Coverage

In addition, many people do not get enough insurance coverage. If you purchase the least expensive insurance policy you can find, you probably do not have enough protection. Your insurance policy probably has a very low limit. For example, what happens if your insurance policy has a limit of $25,000 for property damage? There’s a good chance this is not going to be enough for you to replace the roof of your building. You may end up having to cover the rest of the roof repair out of pocket. This can be incredibly expensive. Make sure you have enough coverage.

4. Not Working with Trained Professionals To Find the Right Policy

Clearly, there are a lot of mistakes you could make if you are looking for daycare insurance. If you would like to avoid these mistakes, you should work with trained professionals who can guide the way. There is a lot of jargon in insurance policies. If you do not have training in this injury, you may have a hard time interpreting what the policy says. Make sure you have the right protection by partnering with the trained professionals here at InHomeDaycareCoverage.com who can help you.

Would You Like Us To Review Your Policies?

Request Your Proposal Here

Are you ready to save time, aggravation, and money? The team at New England Insurance Services is here and ready to make the process as painless as possible. We look forward to meeting you!

Skip to content