According to the United States Census Bureau, more than 60 percent of kids under age 5 need assistance through childcare. Over 6 million children are cared for by Head Start programs, nursery facilities, daycare centers, and in-home care facilities. Those looking to start a service offering care for children will need day care insurance in Texas to protect against loss that may occur. While family members can help care for children during the day as mom and dad head out to work, more parents are seeking services of a daycare provider to tend to their child’s needs.
Daycare Insurance Summary
Over 40 percent of new moms go back to work after giving birth within a year. In the United States, there are more than 100,000 childcare centers. Children under preschool age spend over 30 hours a week at such facilities. Having daycare insurance offers protection for businesses providing unique care for children. Property and liability coverage is included and is created specifically to meet needs of the business. Business owners can build a policy with coverage options provided.
Do You Need Daycare Insurance?
Usually, daycare insurance is necessary if you plan to provide childcare services out of your home or at a designated facility. If operating as a legal business under DHHS (Department of Health and Human Services) standards it is necessary to obtain coverage for licensing purposes. The cost of daycare insurance will depend on requirements set by the insurance company. The daycare itself may have requirements to meet at the local or state level. Such limitations may help reduce liability lawsuit risk.
A home-based daycare may not need to follow licensing requirements set by DHHS, yet a homeowner’s insurance policy may offer details on this you should review. It may require you carry a form of business insurance or purchase some type of protection. If your home obtains damage from childcare services provided your homeowner’s insurance will not cover it. You can learn more about this when considering child care insurance Houston options available via an authorized agent. Your homeowner’s insurance policy may not get renewed if you are running a business in your home without business coverage.
What Does Daycare Insurance Cover?
In today’s society, it can be very helpful to have daycare insurance, especially with children and the fact that anything can happen. If your business was involved in a legal dispute you could be liable for legal fees even if the case against your business is dropped. Insurance can cover such fees and more. Here is a glimpse of what daycare coverage includes:
- General liability: Day care insurance in Houston includes this type of coverage. Most policies offer some type of coverage related to personal injuries or property damage caused by a third party. Children can cause accidents leading to injury, but the daycare could be held liable.
- Premises liability: Areas surrounding your business can be covered by insurance such as playground and parking lot areas. An injury can occur if someone got hurt on your property if the environment is not safe. The coverage can pay for the damage to the property and medical bills related to injuries.
- Employee liability: Childcare workers and teachers are covered under this policy. If negligence was shown by a member of your staff this could be taken to court. A child that is emotionally, mentally or physically abused could lead to a lawsuit.
- Commercial vehicles: Coverage is available for vehicles used to transport children to and from the facility. It may be required if using vehicles owned by the company.
- Other auto liability: The policy covers non-owned or for-hire vehicles used to transport children. An example may include daycare workers using their own vehicle to transport children for a field trip. Injuries or property damage that occurs during transport could be the responsibility of your business. If a private vehicle is being used for business purposes this is the coverage to have.
- Corporal punishment: If an employee is accused of hitting a child the insurance can offer financial protection if your business is found liable.
- Molestation or abuse: If an employee was found liable for molestation (sexual abuse) or anything along these lines medical payments and fines are likely. Financial losses related to this can be protected.
- Additional liability coverage: Known as an umbrella liability policy it offers coverage after the limits set in your insurance policy. If your daycare facility is large in size it may benefit from this coverage. An authorized child care insurance Houston agent can provide more information about this option.
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What to Know about Property Coverage
Daycare centers rely on different things to keep kids entertained during the day. Business property that is damaged or lost can be protected with property coverage. A rider to your home insurance policy may be required if operating out of your home. If space is rented for your business you may not need this coverage. If the building you run your business from is owned by you coverage is an essential investment.
Contents coverage is available to replace items such as toys, cribs, electronics, books, and so on. Reimbursement may qualify if the loss was due to theft, fire, bad weather, or fire. There is also coverage for outdoor equipment such as sports, sandboxes and swing sets. It may be covered under another policy, but this is mentioned since some companies may require this to be separate coverage.
Other Forms of Daycare Insurance to Consider
Depending on how your business operates there are other forms of insurance you may find beneficial including field trip insurance, special events liability coverage, lost income insurance, and workers compensation. Rules and regulations may be in place for such policies determining the amount of coverage necessary. Contact a local qualified insurance agent for more details.