If you are in the Childcare business, or are considering entering it, it is important to check out your options for Childcare Insurance. It is important that you obtain a policy that is specific for childcare. Insurance companies will try to sell you a Home Owner’s Policy under the pretense that you will be covered if you run a childcare in your home. Unfortunately, many providers have found out that the policies are not valid when they have attempted to file a claim.
There are many insurance companies out there that will try to sell you an insurance policy. However, not all of them specialize in policies for In-home daycares or daycare centers. Be prepared to ask a lot of questions and read the small print on any policy that you might be considering BEFORE you sign on that dotted line. It is better to have more insurance than not enough, and you also want to make sure that if in the event you need to use the policy, you can do so without a lot of hassle.
Before shopping around for a policy, make a list of questions that you can ask the insurance agent. Don’t be pressured into signing a policy that really isn’t what you wanted, or one that doesn’t suit the needs of your business. Insurance agents generally work on a commission base and will attempt to use pressure tactics to sell their policies. Make sure you do your homework…. I have found in my own personal experience that when I was prepared with questions, and knew what I wanted in a policy, it was easier to get the policy that I needed.
The following article NNCC Your Insurance Needs: Part 1 written by the National Network for Childcare will give you important information regarding Daycare Insurance. A good resource to read before purchasing a policy.
The following websites specialize in In-home Daycare and Daycare Center insurance policies.
Family Home Daycare Liability Coverage This is a VERY basic website with limited information. But it does have an interesting feature. Below the contact person’s name and address is an Email Notification Service link. This company will email you with up-to-date information regarding issues that will effect the Daycare Industry. It might be worthwhile to sign up for that while shopping around for insurance policies.
American Federation of Daycare Services Easy to navigate site, with contact information to obtain a quote. This company is endorsed by NAEYC.
Professional Liability Insurance for Lawyers, Architects & Engineers and Day Care Providers This company specializes in providing insurance to professionals. They do have a section for Daycare Providers which is fairly comprehensive. From the first page, you double click on the icon with DAYCARE highlighted. The link will take you to the page for Daycare Insurance. A contact person’s name and address is listed to obtain more information. Also a sample policy and application is available to download by following the blue link.