Insurance is one of the necessities of and hardships
in life. Itís an added cost to your life yet it may end up saving your
life. Itís always a big question whether or not one should get insurance
because you will be paying for something that you might not actually you
in the end. But I guess its better safe than sorry.
As a new owner of your daycare center, you will experience a lot of
obstacles that would provide a lot of challenge and learning
experiences. Of all these experiences you would be wise to learn the
value of protecting yourself and your business from risk of accidents
and liabilities. Having yourself and your business insured will provide
you with the invisible security that you need in times of hardship due
to accidents and unforeseen dilemma. The question is what type of
insurance should you be getting?
* Business insurance. - Your daycare center is a form of business. You
will need to get a business insurance to protect yourself from possible
future losses and the future of the people under your employment. This
insurance aims to protect your investment and keep you going in
* Basic insurance would cover your fire and accidental insurance. This
is common to most people as it protects not only you but your place of
business. In the eventuality of fire or accidents the insurance would be
able to cover the expenses and other liabilities depending on the
coverage of the insurance policy. Most insurance companies already
include this in the package when you get insurance from them. If this is
not included be sure that it gets included.
* Daycare liability insurance is specifically designed for the needs of
the daycare and protection of its owners and constituents. The current
business insurance you have, may already have this included but if not
you would need to get a separate one. There are a lot insurance
companies who offer this type of insurance and you should pick out the
one that has the best package and coverage. You want to prepare for
anything that may happen especially since you are dealing with kids.
General liability insurance will cover everything that may arise such as
loss, physical injury and even legal costs if it arises. Donít hesitate
to ask your insurance agents about the coverage of your insurance. They
will be happy to inform you of what would be the best type of insurance
to get for your daycare center.
* Errors and Omissions Insurance provides you the maximum coverage for
your daycare. It covers negligence, personal injury, field trips,
unforeseen circumstances and medical expenses for the children in you
care. The insurance will even cover clauses for accidents and accidental
types are numerous and you would choose the best one that would suit
your needs. Be sure you account for everything and that you are
protected in every aspect. You do not want to be regretting in the end
and asking yourself why you did not get that insurance.