Daycare Insurance

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Without adequate supervision, children can fall victim to accidents, which can result in serious bodily injuries. If the injuries are severe enough - the parents can take legal action against the daycare center on the basis of negligence.

And if the daycare center doesn’t have insurance in place - they will have to pay the victims financial reimbursement and cover their medical bills out of pocket. For that reason and more - getting daycare centers insurance is highly recommended if you want to secure the financial standing of your business.

How Much Does Daycare Insurance Cost?

The total cost of insurance for your daycare center will depend on the size of your business and the level of cover you opt-in for.

The most popular insurance for daycare centers is general liability insurance. This policy will shield your business from lawsuits and claims related to third-party injuries and property damage. The average daycare center in the U.S. pays around $50 per month or $600 per year on general liability insurance.

Every physical business in the U.S. is recommended business owner’s insurance. This policy costs around $120 per month or $1,440 per year. It combines commercial property insurance and extends the coverage of your general liability insurance. So, if your daycare center is damaged due to poor weather conditions, you’ll be fully covered by the insurance company.

The average daycare center in the U.S. pays around $60 per month or $720 per year for professional liability insurance. Such a policy will provide your business with cover in case it gets sued on the basis of negligence or other similar circumstances that lead to an accident.

Daycare centers that employ staff must also take out worker’s compensation insurance, which costs around $140 per month or $1,680 per year. This policy will provide your staff with financial cover in case they get sick or injured at the workplace.

If your daycare center has company vehicles - like mini buses that take children to areas outside of the daycare grounds, commercial auto insurance is necessary. You can expect to pay around $200 per month for this policy or $2,400 per year. It will provide cover not only for everyone in the company vehicle but also for the vehicle itself and any third party involved in the accident.

What Types of Insurance Do Daycare Centers Need?

Generally speaking, daycare center owners have numerous insurance policies to choose from. Factors such as the number of children enrolled in your center, types of services offered, business location and size, revenue, and the number of employees and company cars the business has can all impact the level of cover you need.

Please take a moment to review the best insurance policies for daycare centers in the United States below.

Why Do Daycares Need Insurance?

Running a daycare center may seem simple, but just like any other business, there are risks to be wary of. And to protect your business and its financial standing from accidents that can lead to costly lawsuits and claims - insurance is always recommended.

For instance, if a child trips over outside or slips on a wet floor without adequate signage - the parents can sue your daycare center, which without insurance, can be pretty costly as you’ll have to pay for everything including medical bills, compensation, and other fees all out of pocket.

If a child in your daycare center is being bullied, and the issue isn’t resolved, then your daycare business can be sued on the grounds of negligence - which can not only lead you to serious financial liabilities but can also seriously harm your reputation.

In other cases, an employee may fall sick or get an injury, and if that puts them out of work - they can claim against your business to cover their lost wages, medical costs, hospital fees, and others.

Some daycare centers in the U.S. are simply required by state law to have a certain level of cover before they can legally enroll children and take care of them during the day.
Whatever the case may be - insuring your daycare center is the best way to protect it in case an accident takes place on the premises of your business.

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