In a recent survey conducted by the U.S Census Bureau, it was found that 71% of children under five years old needed child care assistance. The majority of these children were cared for by relatives. However, 33% of children were cared for in a nursery, day care center, in-home care facility, or Head Start program.
Couples now must have two incomes to make ends meet. But not every family can turn to family members to watch their children during the day. Because of the large demand for daycare services, many companies are finding it easy to compete in the growing market. As with any business, daycare owners face many risks that can threaten their growing business. This is where daycare insurance can help.
AWS is a business insurance agency that offers coverage for all businesses. Whether you operate your daycare business out of your home or have an established center dedicated to this service, you will want to consider daycare insurance. Childcare centers and nursery schools are required to carry daycare liability insurance to be licensed by the Department of Health and Human Services. If you are running a home-based daycare business, you may be required by your homeowner’s insurance policy to carry a business insurance policy or to purchase specific endorsements to protect your business.
It is important to understand that your home policy might not cover you for liability charges or property damage stemming from your home business. Since we live in a litigious society, your daycare business may be at risk for a liability lawsuit. Liability insurance can provide coverage for any court costs and legal fees associated with any event.
Daycare business operations often invest a lot of capital into equipment to keep the children entertained during the day. A daycare insurance policy can provide you with compensation if your business property is lost or damaged. Also, if you provide transportation for your daycare, you most definitely need to include car insurance. Depending on all the facets of your business, we have the expertise to make sure you are covered in any event at AWS. Contact one of our Insurance professionals today so you can get back to doing what you love.