Business Insurance for Preschools and Private Daycares

Are you thinking about starting your own preschool? Perhaps a daycare is one of the things you’ve always wanted to build. If so, there are many steps to think about, including the investment in business insurance. As you take into consideration all of the ways to protect your business, this could be the most important. Where do you start? 

Establish Your Location and Property Insurance 

The first step is always to have property insurance to protect the location you are working in for your business. In most cases, you need to have enough coverage to protect the value of the building. It also should cover any equipment and furniture you have within it. That may include refrigeration systems, cooking equipment, furniture, and electronics. Property insurance should provide protection from most risks. This includes things like fires, storms, and vandalism. 

If you rent or lease your space, it can also be important to choose property insurance. However, here, you will insure just the property belonging to you. That may not necessarily include the structure unless it is your responsibility to provide coverage. Otherwise, this is the landlord’s responsibility. 

Minimizing Liability Risks 

Liability insurance is critical for any type of daycare or preschool. Children suffer injuries often. Most of the time, they are accidents and lead to nothing more than a bandage.  

However, it is possible for more serious injuries to occur. You need to have proper liability insurance at this time. A tree branch could strike a child. A child could suffer an injury from another child. It might be your responsibility to pay for the damage. Work with your business insurance agent to get the right type of protection in place here. 

Other Types of Daycare Insurance Policies 

Customize your insurance to meet your specific needs. It is important to select the coverage that is fitting to all of your goals. This may include: 

Take the time to meet with your business insurance agent. Discuss all of the options for repairing and updating your policy. In many situations, your coverage will need updates from year to year. Yet, having it means you can keep your business operational long term.