What You Need to Know About Daycare Insurance

Running a home or commercial daycare allows you to provide an essential service for parents who work or need a break for personal time. Apart from keeping kids safe, clean, educated, and entertained, you have to make sure to protect your business against the unique risks of childcare services. At Hawsey Insurance, we tailor your policy to cover your business and personal liability.

What is Daycare Insurance?

As with any other business, you face risks that could put your daycare services in financial or legal peril without the right coverage. Customizable coverage options allow you to choose a policy that focuses on your specific business requirements.

Who Needs Daycare Insurance?

Your needs will vary depending on whether you operate out of your home or a dedicated commercial location. Although laws vary in different states, most states have a Department of Health and Human Services, or an equivalent agency, that determines whether you need liability insurance for your daycare business. Additionally, most states require liability insurance as a condition of maintaining your business license.

Our knowledgeable insurance agents can help you understand the specific requirements in your state. Additionally, you may run into problems with your homeowner’s policy if you run a daycare business at home without purchasing a separate policy for your business.

Types of Daycare Insurance

Whether you run a home or commercial daycare or in-home daycare, we can help determine the best coverage for your business. Here are typical coverage types included in many daycare insurance policies:

• Liability Protection for Home Daycares. Home daycares often require additional coverage to bolster your home insurance policy. Even if you’re not at fault, it’s important to protect yourself against accidents that may happen.
• General liability. This coverage provides protection if you are sued for being negligent and someone is injured as a result or a third party’s property is damaged as well as medical and legal expenses in the case of a lawsuit. No matter how careful you are, a child may get hurt while under your care. This coverage can protect you against litigious parents.
• Professional liability. This protects you against an employee accused of abuse or negligence.
• Commercial auto insurance. Many daycares have before or after school programs and might even offer pick up and drop off services. Commercial auto insurance protects your daycare’s vehicles.
• Corporal punishment liability. If a parent accuses you or an employee of hitting a child, this insurance can help to cover legal and related costs.
• Abuse and molestation liability. No one wants to think that their employees are capable of molestation. However, no matter how carefully you vet your staff, you can’t always predict this behavior. Getting this coverage helps to protect your business in case of an abuse or molestation claim.
• Commercial property insurance. This will cover your building if you own one and also the contents in it against such perils as fire, windstorm and vandalism.

Our agents may also recommend umbrella insurance for additional coverage, depending on the needs of your business.

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How Much Does Daycare Insurance Cost?

The cost of your insurance depends on the number of children served, your location, how long you’ve been in business, and many other factors. However, you’ll probably spend far less on insurance than snacks for the year! Some commercial policies are quite affordable. Keep in mind that depending on the number of employees and your state laws, you may also need worker’s compensation and other types of insurance.

Contact Hawsey Insurance to get the right insurance in place for your childcare business. To discuss your daycare insurance options, call us at 601-856-7707. We provide insurance services for businesses throughout Mississippi and surrounding states.