You’ve worked hard to earn a positive reputation as a local childcare provider. But what happens when an accident occurs or there are unfathomable allegations? That’s when having the right level of commercial insurance coverage becomes incredibly important.
Ready to learn what in-home daycare insurance covers? Let’s get started.
Liability Coverage for In-Home Daycares
Basic in-home daycare insurance comes with what is called liability insurance. This is the coverage that takes care of any medical or legal bills if a child or other visitor is injured at your home. With so many horror stories floating around about childcare providers being sued for various reasons, having this type of policy is incredibly vital to protecting your business in the long term.
While you might be wondering why you need an additional policy over what your homeowner’s insurance typically covers, it is important to realize that it comes down to the terms of your policy. Incidents that happen during business use are typically excluded from personal lines insurance, which means without additional coverage you would be looking at a claim denial.
Additional Coverage Options Available for Daycare Providers
After basic liability coverage for in-home daycare providers, there are other types of policies you can buy to ensure you’re fully protected. For example:
- Abuse and Molestation Liability: This coverage works to defend you in court against any allegations of abuse or molestation of a child in your care. This also includes acts by employees and staff members that you might not be aware of.
- Corporal Punishment Liability: If you are accused of using corporal punishment or striking/hitting a child in your in-home daycare, this policy works to pay for legal and other fees associated with defending you in court.
And these are just two of the various types of coverage you should have in addition to basic liability for your in-home daycare center. If you have employees, you’ll need to also carry worker’s compensation insurance. Plus, those with a van or other transportation should also have a commercial liability policy.
No Coverage for Property Damage
Furthermore, it is important to note that basic in-home daycare is a liability only policy. This means that there is no coverage for physical items, such as equipment or the building you’re in. In that case, you would want a different type of insurance called commercial property.
However, for most small in-home daycare providers who offer care to only a handful of children, your home insurance coverage might be enough. This can vary from one carrier to another, so make sure to talk to a licensed agent about your needs and situation.
Wrap Up: Commercial Insurance for Your In-Home Daycare
When it all comes down to it, running an in-home daycare is still operating a business. Make sure you’re completed protected against all levels of additional risk by obtaining the right type and level of policy to suit your needs.
Are you ready to learn how in-home daycare insurance can help protect your small business? Our team of experts is here to help. Please contact us today or fill out the form to receive a no-obligation coverage quote.