If you provide childcare in your home, or at a commercial daycare, a comprehensive insurance policy is an important consideration.
Since childcare providers are faced with exposures to liabilities every day, it is especially important to ensure that you take out adequate coverage, to cover all of your bases.
When it comes to finding a childcare insurance policy, it’s important to find the one that suits your needs best.
Here are some basic coverage options that are available under a childcare insurance policy. Knowing what each one provides coverage for can help you to make an informed decision.
-Defense Coverage –Defense coverage can provide coverage for your defense costs for lawsuits that are brought against you. Taking out a policy that doesn’t have a policy limit for defense coverage is an important way to make sure that you have adequate defense coverage.
-Child Abuse Coverage –Child abuse coverage covers liability for claims that are made against you or your employees. Allegations can be made at any time, even if they are groundless, making this coverage especially important for childcare providers to have.
-Incidental Malpractice – Incidental malpractice provides liability coverage for incidents involving negligence with a child’s medication administration, or a child’s diet.
-Personal Injury –Personal injury coverage is important protection for you against libel, slander, or wrongful arrest.
-Off Premise Activities – Off premises activities protection provides coverage for off premise activities such as field trips.
Who needs Childcare Insurance?
While anyone who offers childcare in their home or as a profession should take out a policy, the amount of coverage required by childcare providers will vary.
It’s important to make sure you are properly covered to protect yourself, your family, and your business. Even if you aren’t required to have a business license, you should still make sure you have adequate amounts of insurance.
Does a Homeowner’s Policy Provide Coverage?
Many childcare providers think that their homeowner’s policy will cover them, especially if their childcare business takes place in their home. But a homeowner’s policy will not cover you unless you add your childcare business to the policy. Even then, additional insurance coverage should be taken out to cover all areas including liability or child abuse allegations.
Childcare policies vary. Be sure to talk to your insurance agent to find out what coverage options are available, or to see what is included under your policy. Texas Insurance Agency would be happy to help you to find a policy that’s right for you.