Different Types of Home Daycare Insurance
If you are planning to open a daycare facility, one of the many things you'll have to consider is some kind of home daycare insurance. Insurance generally isn't a popular topic of conversation since the only time you use it is when something goes wrong.
However, it's inevitable, especially if you're in the daycare business for any length of time that something is going to happen sooner or later. This something could be property damage or, possibly, one of the children in your charge getting injured. There are a few different types of home daycare insurance policies to choose from, depending on whether you are licensed or unlicensed.
Make sure you take your time and do your homework before shopping for home daycare insurance. Shopping for any kind of insurance can be confusing, so make sure you ask a lot of questions and know exactly what you're getting into. Make a list of things you want to know, such as exactly what types of things are covered.
Homeowner's Policy
Many people believe that their homeowners insurance will cover anything that happens on their property while operating a home daycare. This is not necessarily the case. In fact most homeowner's policies have exclusions in place specifically for home based daycare providers. Some will offer the option of home daycare insurance at an extra cost. An addition to your homeowner's policy will give you some liability coverage, but it will lack certain things, such as child abuse protection. This is one of the questions you will need to ask of your insurance provider.
Special Daycare Policy
Chances are, you will probably need to purchase a separate policy designed for home child care. This type of home daycare insurance will give you more complete coverage specific to the risks involved in this type of setting. One major difference between this type of policy and an addition to your homeowner's policy is that they provide coverage in the event that you are accused of negligence or child abuse. This is an essential part of the coverage you will need. You never want to think that things like this could happen, but unfortunately, a minor injury to one of the children can turn into a major issue.
These policies will cover any damage or injury that occurs related to the operation of your daycare business. You will want to make sure you are covered even when you are not in the home. For example, if a child gets injured on a field trip or something like that. Home daycare insurance is just one of the many considerations when starting a home child care business, but it could very well be the most important.
