If you start your own daycare, you need to have home daycare insurance. Having insurance can provide you with peace of mind, since this will cover any kind of property damage or physical injury caused to the children under your care in your daycare center. Insurance policies differ from license facility and unlicensed facility.
Business insurance is for your protection, your business and for the protection of your employees and customers. With this, you can protect your assets from loss. It is advisable to consult a knowledgeable insurance adviser before you make any decisions regarding insurance.
If you contact an insurance professional, you will gain insurance plan that you need for your daycare facility. Having proper daycare insurance, it can help out in gaining success for your business.
There are three types of insurance, read on to know them...
-Homeowner insurance. This insurance will cover for the childcare within your facility but it doesn't cover any child abuse.
-Errors and Omissions insurance. This one will cover you with the maximum coverage in your daycare center. Not only standard and general coverage, it can cover negligence in child care as well. There are some aspects that this insurance covers including personal injury, field trips, between $50,000 to $100,000 for child abuse, auto liability, medical expenses due to accidents from $5,000 to $20,000 per kid, accidents on the premises, and accidental death on your premises.
-General liability insurance. The aspects that this insurance covers include childcare in your facility, field trips and child abuse with no extra cost.
As an entrepreneur, there are lots of risks that you can face; some of it can be loss of space and equipment due to theft, fire or any disasters. With this, you can also be face with liability issues such as injury or death of employees, and clients. So, having home daycare insurance can help you since it can cover a lot including automobile, business space, equipment, supplies, medical payments for yourself, employees and clients, liability and disability income for you.
It will cover legal costs if parents sued you due to the injury that was caused to their child. You have to be aware with the insuring forms, these come in two types, the occurrence form and the claim made form. It is best to choose occurrence form since it covers a claim that are reported even after it expires.
Remember, it is important to get home daycare insurance since it can protect your business.
Dolson McArt - Author of: Types of Insurance You Need For Your Daycare
Contributing to EzineArticles.com since March 2007
Article Source: http://EzineArticles.com/?expert=Dolson_McArt
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