WHAT IS
DAYCARE
INSURANCE
Daycare insurance is specific business insurance designed to meet childcare businesses' unique needs. In addition, it provides business owners with much-needed daycare liability insurance coverage and business property coverage.
Premium Daycare and Head Start Insurance
in NY, NJ, CT & CA
Insurance for daycare centers come with coverage options that allow daycare owners to build an insurance policy that caters specifically to their organization's unique needs. We also work with social services, foster care, senior living, and adult daycare centers.
Do You Need Daycare Insurance?
The daycare industry continues to grow as more and more families show a significant need for childcare. Whether it's a modest in-home daycare, a mega-care center, or a community-founded Head Start with many classrooms and a gymnasium on the roof, it needs to be protected.
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That's where Carriage Trade Insurance Agency can help - we are experts at all things Daycare Insurance! Let us help you find the right coverage for your daycare at a price that makes sense.
Daycare Insurance Requirements
Whether you operate your daycare business out of your home or run an extensive Early Learn Daycare/Head Start program, getting daycare or preschool insurance is critical to your business plan. Very often, coverage is required to run your daycare program.
Child care businesses and nursery schools must carry daycare liability insurance to be licensed by the NYC Department of Education and the Department of Health and Human Services (DHHS). In addition, most states (and cities) require licensure for a daycare business to operate legally.
While government licensing agencies have strict guidelines that your business must adhere to, your insurance company may have even stronger requirements that will affect your daycare insurance costs. These requirements are put in place to limit your exposure to lawsuits - resulting in fewer claims.
Daycare Insurance Offers Liability Protection
We live in a litigious society. As a result, many instances may arise where your daycare business may face a lawsuit. The ensuing legal defense costs can be pretty expensive, even if the suit is lost. Liability insurance covers court costs and legal fees associated with a covered claim.
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General liability: This coverage is necessary for any business where the public is permitted to enter your property. General Liability (GL) insurance covers property damage or injuries from third parties on your premises. This is particularly important when dealing with children in your daycare. In most cases, the injuries will be minor, but your facility may be liable for the expenses if an injury requires medical attention.
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Professional liability: This coverage helps in the case a teacher or member of your staff has shown negligence and your business is sued.
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Commercial auto liability: This is required if your daycare business has company-owned vehicles that transport children to and from school and to outings or events.
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Non-owned or for-hire auto liability: If you, or any of your employees, drive children in privately owned vehicles, your business can be held liable for injuries or property damage if the driver is in an accident. This coverage protects the daycare when privately owned vehicles are used for company business.
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Corporal punishment liability: If you or one of your employees strikes a child in your care or is accused of administering corporal punishment, your daycare can be held liable. This insurance option provides financial protection if you face a claim.
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Abuse and molestation liability: If an employee of your daycare sexually or otherwise abuses a child, your business can be liable for expensive litigation, claims, and medical payments. This insurance coverage will protect your daycare from financial losses.
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Umbrella liability protection: This coverage provides additional liability protection beyond the limits of your base daycare liability insurance policy. Many daycare facilities may benefit from this added coverage.
Daycare Insurance Offers Property Insurance
A lot of capital is invested in your daycare's equipment - daycare insurance can provide you with a reimbursement if your business property is damaged or stolen.
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Building coverage: This provides coverage for damages to the structure of the building in which your business is housed. Building coverage includes improvements and betterments you have made to the premises. Daycare property insurance provides for damages caused by fire, severe weather, falling objects, and property theft.
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Contents coverage: This provides coverage for the items you use for daycare purposes: cribs, toys, books, etc. Suppose your business/personal property is damaged by fire, extreme weather, vandalism, or theft. In that case, you may have a compensable claim for your loss.
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Outdoor equipment coverage: Most daycare/preschools/Head Starts have outdoor equipment like swing sets, sandboxes, and sports equipment. Some insurers require you to purchase a separate endorsement for outdoor equipment.
Daycare Insurance Provides Additional Coverage
It provides other insurance options that may be important to your childcare business, like:
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Field trip insurance: This includes liability and property damage coverage while you are off-site with your students.
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Special events liability coverage: If your daycare hosts a special event like a holiday party or a fundraiser, you may wish to purchase this one-time insurance policy. This will provide liability protection during the event.
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Loss of business income insurance: If your facility is forced to close its doors after a covered loss temporarily, this insurance will provide a continuation of income. This allows you to continue paying employee salaries and monthly expenses until your business can open again.
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Workers compensation: This offers medical coverage and compensation for your employees if they are injured on the job.
Ready for a quote?
Whether you run a daycare, social service, foster care, senior living, or an adult daycare center, Carriage Trade Insurance can find the right insurance for you. Let’s get your insurance needs met at the best price points today!
Call our office today at 516.358.5600 or contact us online and an insurance professional will get back to you promptly.