Do you run a home daycare or childcare center in the area? If so, you need to make sure it is adequately protected. That is childcare insurance can protect you. You probably have health insurance, car insurance, and homeowners’ insurance. You might even have life insurance. You get insurance to protect the most important assets in your life, which includes your daycare. On the other hand, there are lots of daycare insurance policies from which to choose. How can you make sure you pick the right one for you? There are several important factors to consider.
Is Your Building Adequately Protected?
First, you must make sure your building is adequately protected. If you own the building in which your daycare operates, you know this is a valuable investment. If something were to happen to the building, and you were no longer able to operate your daycare out of it, how would you pay back the balance of the loan? That is where your insurance policy comes in handy.
In addition to insuring the building, you also have to insure your equipment as well. You probably have a lot of valuable equipment in your daycare. If it is damaged, lost, or stolen, make sure your insurance policy covers it.
Are Your Commercial Vehicles Protected Appropriately?
Do you take your kids on field trips? If so, you must make sure your commercial vehicles have been protected appropriately. What happens if you take your kids on a field trip and your van gets totaled? What happens if one of your teachers or students is injured? Make sure your daycare insurance covers this as well. That way, you can replace your vehicle and pay for any medical expenses that may result from the accident.
Are You Defending Yourself Against Potential Legal Liability?
Finally, you also have to think about potential legal liability. If one of your students gets hurt, you may leave yourself vulnerable to a potential lawsuit. If one of your employees gets sick or injured, you may end up having to pay for his or her medical expenses as well. They still can be expensive. Even a single legal issue could seriously compromise the ability of the daycare to attract new students and remain open. Fortunately, daycare insurance policies can protect you against legal liability as well. Make sure you read the details on your policy and understand what type of protection you have from legal issues. If you have questions, reach out to a professional for help.
Find the Right Daycare Insurance Policy for You
These are just a few of the many factors you need to consider when you are looking for a daycare insurance policy for your business. When you run a daycare, your primary concern should be the health, safety, and well-being of your children. On the other hand, you also need to protect your business from harm. Work with our trained professionals here at InHomeDaycareCoverage.com and find the right daycare insurance policy for you.