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Kinds Of Insurance That You Need As A Daycare Owner

0 comments Published Wednesday, October 22, 2008 by bloggerblognet22596.

Getting insurance can be a hassle, as if bill days weren't bad enough, you actually have to pay people for something that you might never use. But-and this is a big but-every month I still send out my bill with a signed dated check.

Just in case.

As a new budding entrepreneur, you're going to encounter a lot of new challenges daily with your daycare center. Protecting yourself from risk, exposure or any liability is a must for you. This will definitely add to your peace of mind as the business owner. Your insurance can cover everything from property damage to child injury. Why should you wait until something like it happens before you get any sort of protection?

There are several kinds of insurance that you need as a daycare owner. The following are the basic types of insurance that you will need as a new business owner and day care operator.

Business insurance - First and foremost, your day care is a business. Getting business insurance will protect you from future losses, as well as protect your future or current employees. Insuring your business protects your investments and in the long run, protects you.

Fire, accident and other basic insurance - These are the kinds of insurance you would get for yourself to protect your home or place of business. Don't worry; there are many insurance agencies that include this with basic business packages and other special types of insurance.

Daycare Liability Insurance - Your insurance company may cover this as part of your business insurance or separately. The type of insurance that you'd want to get depends on the kind of day care that you own. Don't be afraid to shop around for the best kind of insurance for you. Your daycare liability insurance will cover everything from loss, bodily injury, even possible legal costs in the future. General liability will normally cover everything from child care, field trips and even child abuse allegations. Daycare liability differs for home daycare centers and commercial daycare centers. Ask your insurance provider now how you can get the best deal from your current coverage.

Errors and Omissions Insurance - This type of insurance gives you maximum coverage for your daycare center. Errors and Omissions is the type of insurance that covers negligence, personal injury, field trips, $50,000-$100,000 for unforeseen circumstances and even medical expenses for the children in your care, including clauses for accidents and accidental death.

These are the basic types of daycare insurance that you should get. Keep in mind that you shouldn't neglect other areas of insurance, even simple things like auto insurance. These can go a long way towards helping you in the future. Talk to different insurance providers about possible packages and requirements you need to have. Different types of insurance have different requirements and these may vary, depending on where you live. Getting coverage is one way for you to guarantee that you'll stay in business no matter what happens. That's one reason to send out your check every month. At the very least, you'll know that if a crisis comes, you'll be ready and waiting.

See: How to start a daycare.

Dolson McArt - Author of: Kinds Of Insurance That You Need As A Daycare Owner
Contributing to EzineArticles.com since March 2007.

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Kinds Of Insurance That You Need As A Daycare Owner

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