Daycare Insurance Information
Serving Denver, Golden, Lakewood, Littleton, Arvada, Boulder, Morrison, Evergreen and All of Colorado
Whether you provide in-home daycare services or you have a commercial facility, you may need certain insurance protection in order to continue operating your business and taking care of children. But daycare insurance isn’t just about compliance; it’s also about protecting your finances from the cost of lawsuits and property damages while showing parents just how seriously you take the care of their children.
Protect the Viability of the Daycare Center with Liability Insurance
Liability insurance is a must for both commercial and in-home care. With liability insurance, you can protect yourself in the event you are accused of neglect or abuse, since the policy will pay defense costs as well as the judgment, provided that it’s within limits and was not due to willful neglect. Liability coverage can even cover incidents that occur while you and the children are away on field trips and can protect against accusations against any employees you have. In this day and age, when many children are on medication and some have food allergies, the added layer of protection provided by liability insurance is even more important.
When securing liability insurance, you’ll need to consider both the deductible you can afford and the limits that sound reasonable to you. If you have a pool or you provide transportation of the children in a vehicle, then make sure to mention that to the insurer. Commercial facilities might also consider employment liability and worker’s compensation coverage in order to protect them against claims by their employees.
Business Property Insurance
Liability isn’t the only risk that daycare providers are exposed to. Their personal and business property may also be exposed to potential damage. Property insurance should, therefore, be secured by all day-care service providers. When you have a commercial facility, you can secure a commercial property insurance policy that protects the building, contents and some outside structures.
In Home Daycare Centers Can Get Coverage from Some Home Insurance Policies
In-home daycare providers should consider a home insurance policy that includes protection for their business practices. This coverage is not automatically included in a standard home insurance policy. You will need to ask for the policy to be ‘endorsed’ for this coverage. Not all home insurance carriers will do this, so it’s important to shop around for a carrier with will allow a ‘daycare operations’ endorsement be added to your home insurance policy.
Denver West Insurance Brokers is local independent insurance agency on the west side of Denver in Golden, CO. We work with many carriers who allow for the Daycare endorsement, or we can write a commercial policy on a Daycare center. Give us a call at 303-960-5290 or EMAIL us today!