After having planned and saved for years to open a daycare center in your home or a dedicated facility, the safety of children in your care is a major priority and may keep you awake at night. However, are you equally concerned about protecting your small business against risks that pose a significant financial threat?
Daycare insurance can safeguard your business against liability and legal claims made against it. The experienced commercial agents at Hawsey Insurance are a great resource when it comes to understanding the different types of daycare insurance you may need. In the meantime, we’ve provided some tips on how to keep your insurance costs in check.
Best Practices that Positively Impact Your Daycare Insurance Costs:
- Train employees. Do you conduct ongoing training to improve the performance of employees? Sometimes, a daycare center insurance claim can be avoided by ensuring that your employees are prepared for any situation that may come up. Certification classes show employees and parents that you care about offering the best possible care for kids. They also may help lower your monthly premiums.
- Review daycare center insurance claims. Work with your agent or conduct independent research on the types of claims filed against daycare centers. This can help you determine where to make improvements in your own business. For example, if you have several complaints regarding security at daycare centers, conduct a quick assessment on how you can improve it at your business.
- Understand your daycare insurance options. No matter how careful you are, a disgruntled customer can file a lawsuit against your business. A child or parent could also trip and fall on a wet floor or elsewhere on the premises. Choosing the right insurance helps you prepare for those emergencies without letting your business face bankruptcy.
- Make the most of daycare center insurance. Once you thoroughly understand your policy, consider whether to add to it. Here are common coverage types selected by savvy daycare center owners:
- Liability Protection for Home Daycare
- General liability
- Professional liability
- Commercial auto insurance
- Corporal punishment liability
- Abuse and molestation liability
- Commercial property insurance
As a daycare center owner or manager, it’s important to understand the range of coverage options available—and decide which ones can benefit your business the most. However, the experienced, professional insurance agents at Hawsey Insurance can make the process of finding the right daycare insurance coverage much easier.
Schedule an appointment to discuss daycare insurance that can protect your business, customers, and kids. Request a quote today!