As a daycare provider, taking care of kids is rewarding in many ways. You get the see them grow as a newborn to seeing them off to school. It's such an important job. During the week you often see the kids more than their parents see them. You are one of the most important people in a young person's life. You benefits in many ways. You're able to enjoy seeing the growth and development of these young children, and you get to earn a living also. But it's not without its risk.
Your standard home insurance policy does not cover an in-home daycare. Some companies will allow you to endorse your home insurance policy to cover up to 5-6 kids. If you're over the insurance company's allowed number of children or did not endorse the policy, you are not covered if someone has an accident, falls outside on the sidewalk, trips down the stairs, gets bit by the family dog, etc. However, you can purchase an in-home childcare policy to protect yourself and your business.
Most policies begin with liability coverage that will pay out in the event of an injury to a child in your care or a parent or guardian that is dropping off or picking up a child. If you want liability coverage for an injury from a pet bite, that is normally an additional endorsement. Other things that are typically require extra protection include abuse and molestation, pools and transportation of children. You may also want to consider adding loss of income protection. If your house burns downs down, so does your business when you work from home. Contact us for more details and a quote.
Oak Tree Insurance has access to over 50 companies but one that we promote often for in-home daycares is West Bend. We use them often because of their abuse and molestation coverage, loss of income coverage and ease of constructing a policy designed just for you.