Carrying Daycare Insurance vs Not?

[weebles5]

I would appreciate any insight on whether to carry daycare insurance or not. I'm sure some of you do and some offer insurance notifications to parents. Why you feel it's beneficial and the average cost, etc. Thanks for any help!

[Blackcat31]

Our state does not legally require us to carry liability insurance. However we MUST notify parents if we don't carry any.

For the small amount that I pay each year, (less then $400) it seems to me that NOT carrying insurance would be silly.

Why would you NOT want that added protection....just in case?

On that same note, I do let parents know that I will NOT file claims due to stupidity or for people I did not authorize to be on my property.

[butterfly]

I carry daycare insurance. The expense is a business expense so it's tax deductable. I don't necessary advertise or let parents know that I have it, but I wanted to be covered if something did happen while kids were in my care. So far -praise the Lord - I haven't had to actually use it, but it's worth the cost to have the protection.

The cost of my daycare insurance is about $800-900/year. I thought it was kinda high, but had issues getting on other insurances since I also do foster care.

[MyAngels]

There is so much liability inherent in what we do there is no way I would ever provide care without the appropriate insurance coverages. As BC said, the small cost is very much worth the peace of mind.

[sahm1225]

I pay about $600/year. I just felt that it was necessary, but I'm a huge fan of having insurance on everything. I figured it would take one small accident or malicious accusation to shut me down for good, so the $600 was worth it.

[EntropyControlSpecialist]

http://www.tomcopelandblog.com/family-child-care-insurance-directory.html

[mamac]

Our state does not legally require us to carry liability insurance. However we MUST notify parents if we don't carry any.

For the small amount that I pay each year, (less then $400) it seems to me that NOT carrying insurance would be silly.

Why would you NOT want that added protection....just in case?

On that same note, I do let parents know that I will NOT file claims due to stupidity or for people I did not authorize to be on my property.

How exactly do you go about telling them you have insurance but won't file ridiculous claims without offending them?

[Blackcat31]

How exactly do you go about telling them you have insurance but won't file ridiculous claims without offending them?

I tell them that. I don't care if I offend anyone.

I do have a form that says:

I ________________ understand that ***XX carries liability insurance. I also understand that this policy will ONLY cover my enrolled child on scheduled days of attendance as well as the enrolling parent.

NO responsibility will be taken for any unauthorized person who accompanies me onto ******X's property. This includes adults I ask to drop off/pick up my child and/or siblings of the child or anyone else present while picking up or dropping off.

The parent must sign and date it.

I KNOW that legally, this form may not stop anyone from trying to sue me but it definitely helps let parents know that I don't have insurance just so they can make a few bucks later on....kwim?

I had a DCM several years back that was walking backwards down my sidewalk (which is EXTRA wide) as she waved to her child. She was also on her cell. She tripped on her own self and fell. She tried to tell me that my insurance would have to cover her medical expenses and missed days of work as well as pay her for her pain and suffering.

I told her that I was NOT filing because SHE wasn't capable of doing more than one thing at a time. It helped that I had it on video too but come on.... seriously?!? I am NOT paying for someone else's stupidity.

[allsmiles]

wow thats crazy!!!!!!... ughhh i hate the idea of fraud claims

[crazydaycarelady]

Our state requires it in order to get our license. I hate paying the $530 per year (but it is tax deductible) and I have never had to use it in 22 years but you know I'll be glad to have it if something ever happens.

I don't tell the parents I have insurance and as a matter of fact I have this in my contract:

Parents are responsible for all costs involved in emergency medical treatment, including emergency transportation, if required. I will not be held liable for any sickness/injury of either parents/guardian or child while on the premises, or while the child is in the company of the provider during outings.

It probably wouldn't hold up anyway but it might discourage some fruitless complaint.

[mamac]

I tell them that. I don't care if I offend anyone.

I do have a form that says:

I ________________ understand that ***XX carries liability insurance. I also understand that this policy will ONLY cover my enrolled child on scheduled days of attendance as well as the enrolling parent.

NO responsibility will be taken for any unauthorized person who accompanies me onto ******X's property. This includes adults I ask to drop off/pick up my child and/or siblings of the child or anyone else present while picking up or dropping off.

The parent must sign and date it.

I KNOW that legally, this form may not stop anyone from trying to sue me but it definitely helps let parents know that I don't have insurance just so they can make a few bucks later on....kwim?

I had a DCM several years back that was walking backwards down my sidewalk (which is EXTRA wide) as she waved to her child. She was also on her cell. She tripped on her own self and fell. She tried to tell me that my insurance would have to cover her medical expenses and missed days of work as well as pay her for her pain and suffering.

I told her that I was NOT filing because SHE wasn't capable of doing more than one thing at a time. It helped that I had it on video too but come on.... seriously?!? I am NOT paying for someone else's stupidity.

I love that you have a form for everything! I will be getting separate dc insurance but I am waiting until I open because I have to change my homeowners carrier to one that will allow me to have a dc in my home. My dh also wants me to have cameras installed before I open to CMA should anything like that happen. Too many people out there looking to make an easy buck.

[wdmmom]

Craziness! When I first started out, I had one heck of a time finding a carrier to cover me!

Either companies said you had to be licensed (and the only way to be licensed here is to be a center. Homes are classified as registered) or you could only watch a maximum of 3 kids (definitely not worth it). I did find one that would cover up to 5 kids at one time and it included my own children so there went that.

It was a nightmare. It took me several months to get things figured out.

We ended up switching homeowners and I have an added clause for self employment/daycare in there. I don't know what the price difference is for that versus just straight homeowners but I'm grateful to have finally found a company that doesn't have all the hoops to jump through.

Prior to switching homeowners, I paid right around $480 a year for 2 million dollar liability.

[lovemykidstoo]

I definately carry it. It costs between $300-$500 depending on the companies I've used. It is not an easy thing to find though. So many insurance companies dont' want to cover daycares. I do not bother telling my families that I have it. I'm curious as to why you would even bring that up with customers? Does your state require that?

On another insurance note. I don't transport kids in my car, but did get into a conversation with my friend who is also our insurance agent one time. He said not to put the kids in the car because the regular car insurance does NOT cover them if there is an accident because you're doing it while in the scope of the daycare business. He said that you actually have to have a chaffeur license. It's different than taking your kids friends somewhere on the weekend. So many take thier daycare kids in the car and I think that you should check into that further if you have an accident. It's worth a call to your car insurance company to make sure you're covered due to the business.

[wdmmom]

I definately carry it. It costs between $300-$500 depending on the companies I've used. It is not an easy thing to find though. So many insurance companies dont' want to cover daycares. I do not bother telling my families that I have it. I'm curious as to why you would even bring that up with customers? Does your state require that?

On another insurance note. I don't transport kids in my car, but did get into a conversation with my friend who is also our insurance agent one time. He said not to put the kids in the car because the regular car insurance does NOT cover them if there is an accident because you're doing it while in the scope of the daycare business. He said that you actually have to have a chaffeur license. It's different than taking your kids friends somewhere on the weekend. So many take thier daycare kids in the car and I think that you should check into that further if you have an accident. It's worth a call to your car insurance company to make sure you're covered due to the business.

My agent told me the same thing about transporting. That's why I don't do it. I had a family ask if I could provide transportation to and from preschool last year. The cost of the commercial auto policy just for 1 vehicle was $2000!!! I told the dcf that I would provide services if they paid the insurance. They were the only ones needing it at the time so I left the cost solely on them. Of course, they didn't take me up on it.

[lovemykidstoo]

My agent told me the same thing about transporting. That's why I don't do it. I had a family ask if I could provide transportation to and from preschool last year. The cost of the commercial auto policy just for 1 vehicle was $2000!!! I told the dcf that I would provide services if they paid the insurance. They were the only ones needing it at the time so I left the cost solely on them. Of course, they didn't take me up on it.

A friend of mine does daycare also and she takes the kids everywhere and does not have additional insurance for transporting. I keep telling her that she's one accident away from a nightmare, but she doesn't believe me that her normal insurance will not cover her. I know that it's so much money to carry it and that's why I know the majority of people don't have the proper insurance. It's not worth it to me. No way am I taking anyone's child in my car without the insurance.