Are you excited about starting your own business and opening a private daycare? To help you get the most out of this wonderful project, Assurances Multi-Risques would like to offer some home insurance tips for your new daycare.
Rule #1: Notify your insurance broker or agent that you will now be conducting professional activities at your residence. Be aware that professional activities are excluded from your home insurance policy. Rule #2: Contact your insurer to find out if they agree to cover home daycare. Unfortunately, not all insurers decide to cover private daycare. It would therefore be unfortunate for you to have an inadmissible claim due to an oversight on your part and lose your most important asset, your home.
Some key factors to consider when insuring a daycare center
- It is important to consider certain criteria before opening your daycare center, as they could have an impact on your home insurance.
- Check with your insurer to find out how many infants (under 18 months) they accept, as this number is limited.
- Ask your insurer if they allow you to have children with mental or physical disabilities.
- Be mindful of the presence of animals. The insurer may not insure your daycare if it contains animals and reptiles. If you have dogs, they must be docile, and if there are cats, there is a good chance you will have to have their claws removed.
- Make sure your property is fenced and safe for little ones.
Some insurance options for your home daycare
Has your home insurer just agreed to cover your home daycare? Great news! Now, here are a few options available to you.
- The addition of civil liability coverage for home daycare. In the event that a child is injured at your residence, you will be covered in the event of a lawsuit.
- The addition of professional liability coverage (error and omission). Did you know that administering medication was not included in your basic civil liability coverage? That’s why it’s important to purchase professional liability coverage.
- The addition of the home worker package.
Depending on your type of home insurance policy, your business property is limited to your policy. In your insurance policy, all contents used for your daycare, including toys, are defined as business property. The home-based worker package allows you to increase your business property coverage. In addition, this additional protection could even cover your loss of income if your daycare centre is closed following a home insurance claim.
We know that it’s not always easy to sort through all the insurance options available for home daycare providers. That’s why we strongly recommend that you contact an insurance broker. They will be able to guide and advise you through the formalities. That way, you can focus on enjoying your little ones!