Insurance for the care industry could be requirement by law, or by regulation, in Ohio, Indiana and Michigan, all three states that Taylor & Associates is licensed to write insurance coverage. Protect yourself and your business.
Whether you are a commercial facility or an in-home care service, you may need specific insurance protection in order to continue operating your business and taking care of your clients whether that be children, adults or pets. But daycare insurance is not just about compliances it’s also about protecting your finances from the cost of lawsuits and property damages while showing your clients just how seriously you take the care of their loved ones.
Liability insurance is a must for both commercial and in-home care. With liability insurance, you can protect yourself in the event you are accused of neglect or abuse, since the policy will pay defense costs as well as the judgment, provided that it’s within limits and was not due to willful neglect. Liability coverage can even cover incidents that occur while you and your clients are away on field trips and can protect against accusations against any employees you have. In this day and age, when most people are on some type of medication and may have food allergies, the added layer of protection provided by liability insurance is even more important.
When securing liability insurance, you should consider both the deductible you can afford and the limits that sound reasonable to you. If you have a pool or if you provide transportation of the client in a vehicle, then make sure to mention that to the insurer. Commercial facilities might also consider employment liability and worker’s compensation coverage in order to protect them against claims by their employees. Check out our Daycare Insurance Brochure.
Liability is not the only risk that daycare providers are exposed to; personal and business property may also be exposed to potential damage. Property insurance should, therefore, be secured by all day-care service providers. When you have a commercial facility, you can secure a commercial property insurance policy that protects the building, contents, and some outside structures. In- home care providers should consider a home insurance policy that includes protection for their business practices. It’s important to note that auto insurance and flood insurance need to be purchased separately.
Taylor & Associates can help provide the required coverage mandated by the top organizations in the country. We are familiar with the requirements of THE GODDARD SCHOOL ® and PRIMROSE SCHOOLS ® , for instance.
We have partnered with top, nationwide providers like, NSI, a West Bend Company and ANI, Alliance for Non-Profits