Daycare Insurance - Explained

A home daycare service is an in-home service for children. This can include a service assistant to a parent/guardian. Or, someone who stays home with the children while parents are at work. These caretakers are licensed and certified individuals who usually have some formal training. 

Home daycare providers should have daycare insurance. It may not need to be as extensive as a commercial facility. This depends, based on the agreement between you and the homeowner. 

If you are a daycare operating out of your own home then you will likely need more coverage. You will likely either need or would benefit greatly from various types of coverage. This coverage can apply to your property and the articles you possess which may get broken. 

A commercial facility is very similar in practice to an in-house or home daycare center. They both provide care to children and usually have an educational bent. They provide care for children ranging from a few months old to just before entering school. 

The primary distinction between an in-house or home daycare center and a commercial facility is the location. The location is typically a commercial building without any permanent or temporary residents. This means it is not a place where people live as their home and operate a business. Rather, it is only for business purposes. 

Daycare centers also operate out of churches and other non-profit buildings. This includes schools as well. These systems are usually regulated under the full-day and part-day program regulations. This includes schools and church-run daycare centers. 

A full-day facility must meet the regulatory requirements of the local territory in which they reside. These requirements may include periodic inspections by a government official. They also check the nutritional content of the food provided to children and ensure it is appropriate. 

Excluding specific provinces such as British Columbia, part-day programs are also regulated. This does not mean there are no standards for other provinces. But, there are fewer restrictions in certain provinces.

You never know what may happen at your workplace. You probably invested a significant amount of money in the furniture and decor of your business. The furniture business alone is valued at 5 billion of the country’s GDP. This says something significant about the value of your furniture in your business. 

The furniture should be insured against the potential damage from the children and their parents. It should also be protected against flood damage and other weather-inflicted harm.

Portable cribs are an important part of your daycare center. Especially if you host your daycare yourself. If you operate as an in-house caretaker, a portable crib is a good idea. They are easily transported from one place to another. 

They are necessary for nap times and other rest periods. Especially if you are caring for young children under 4 years old. It’s a great idea to ensure your investment against damage and potential storm damage.

You might be wondering why you need cots and guest beds in your daycare? Some daycares, especially full-day daycares need beds. Other part-day daycares may not need these so long as they provide a small space for napping. 

But, remember that you are caring for children. Beds are useful to provide a comfortable space for them to sleep. And, they are safer than having the children on the floor.

Computers are just a part of our daily lives now. It is extremely hard to operate a business without a computer. This is because a computer allows business owners to communicate easily with their clients and their employees. 

They also make bookkeeping and record-keeping more straightforward. Insuring your computer is a good idea to protect one of the most expensive and necessary tools for your business.

Changing tables are important for changing children’s diapers and other clean up. When children are still learning to use the restroom, it’s a good idea to have a place to clean up. 

Changing tables are good for keeping the children in a sanitary environment. Just make sure you wipe it down when you’re done. 

Shelving units help keep the daycare clean and tidy as well as keep the toys off of the dirty floor. Shelving units can be costly if they are ever damaged.

Even plastic units can be damaged during a flooding episode. Especially if you are unable to perform cleanup right away. Water creates mould which is very bad for health. 

You are working with children who are learning to walk still, at times. They are accident-prone. But, not all injuries are harmless.

And, if a parent or guardian feels it is right, they can sue for injuries to their child. This can be very expensive and if you are uninsured it might cost you your business. It is a very good idea to both prevent injuries while also protecting against potential lawsuits. 

Accidents happen no matter how careful you are. 

This insurance protects the employer against potential lawsuits by employees. This means if your employee tries to sue you due to a claim of mistreatment, legal fees are covered. Employees can sue for a variety of reasons. 

They can sue based on claims of racial or sexual discrimination. They can sue based on claims of experiencing such behaviour. In Canada, employees are protected against mistreatment from employers. Even if your actions were unintentional, they may still have grounds to sue. 

General liability insurance may be the most necessary for a daycare center. This insurance is relatively vague, but this is necessary for the type of accidents that can occur. 

General liability insurance protects the business from the potential hazards that can occur. This can be falling on your property or an injury from playing with toys. This insurance is essential for anyone hosting a daycare center. 

This type of insurance is not just for daycare centers. As the name implies, it includes almost anything that can be defined as a business property. This can include supermarkets and malls. 

However, for daycares, this insurance is important. This insurance can cover things such as damage to your buildings from weather or natural disasters. It adds a level of security to your investments and the ability to make repairs. 

This insurance may not have seemed so important up until recently. Covid-19 showed the world just how costly an unforeseen crisis can be. Business interruption insurance protects the business from events such as these. 

With this insurance, if you are forced to shut down for some reason, your revenue may be protected. This depends on the plan and what you need most, but generally, this is true.

This is insurance that can apply to businesses or private individuals. However, private plans are usually not so involved as a business plan. 

This insurance helps protect your business’ investment in heavy-duty machinery and its maintenance. Maintenance usually occurs several times per year and is essential for the continual operation of the units. Insurance such as this can help you pay for this and help replace a damaged or broken unit. 

Commercial auto insurance helps protect your employees when they are on the road for your business. And, it helps protect you in the case of an unfortunate accident.

If you run a child care and daycare center, you will probably drive children around in your vehicles. Insurance helps to protect you in the event of an accident and an injury occurs.

This insurance probably seems pretty obvious. But, it is very essential to any business. As a business, you have valuable items in your possession. This can attract thieves and burglars to your business.

In the event of a theft or break-in, this insurance helps to protect your business. Usually, you can get refunded for stolen items or get these items replaced. 

Bundling your insurance plans is one of the best ways to save money on your daycare insurance. Bundling your insurance means purchasing a package from an insurance provider. 

If you choose them for almost all of your coverage needs, they may be able to give you better prices.