Are You Struggling To Find Coverage For Your Daycare?
Daycare owners all over the great state of Texas feel like they are grasping at straws right now where insurance is concerned. It doesn't matter if you are looking for your first policy or looking for a new policy because your current insurance was non-renewed or cancelled, finding a policy is like winning the lottery. It's frustrating.
The agents at Insurance For Texans have fielded phone call after phone call of owners expressing this frustration. Owners just like yourself have told us about skyrocketing premiums, wondering what they did wrong, and worries about budget constraints due to all of the inflationary pressures. We feel those things ourselves with our business.
While we can't magically find policies that appear from thin air, we can promise to help you find the right insurance coverage at the best price. Sometimes that means trimming previous coverage because it no longer serves your business. Sometimes that means expanding your coverage because you haven't reviewed your business insurance needs in years. Sometimes that means that we help you find the best priced option through one of our on-line options that helps you bridge the gap.
Our goal is to right size you into the right daycare center coverage based on your unique needs and offerings. Yes, it might mean that you are required to answer a few extra questions. But isn't that a small price to pay for the price of certainty of your valuable business when a claim has to be made?
This approach to finding the right coverage comes through True Texas Education Insurance. This is our proprietary system that is designed to assess your individual needs and match them to the best coverage and insurance providers. This is why daycares all over Texas are choosing to work with our experienced agents who specialize in daycare coverage.
Still Not Convinced?
The biggest concern that most daycare owners have is "how much is the premium"? But the bigger question is how much cash do you have at risk if a claim scenario crops up for your daycare business. There are a series of questions to identify the answer to this question.
- What is your deductible for wind and hail claims?
- What is your deductible for any other claims?
- Do you have actual cash value rather than replacement cost on property claims?
- Do you have specific operation types that are excluded from your current coverage?
The Total Cost At Risk can only be determined when you know how much each of these items can cost your business. This conversation is at the heart of True Texas Education Insurance. The experienced independent insurance agents at Insurance For Texans are here to ask you probing questions so that you can make sure that a bad day doesn't turn into a terrible life. Our goal is for you to have peace of mind knowing that the promise of certainty is here to help you make that bad day simply a bump in the road for your daycare business.
Essential Insurance Coverage For Texas Daycare Centers
Running a day care center comes with immense responsibility, especially when it comes to ensuring the safety and well-being of the children in your care. As an independent insurance agent specializing in day care facilities, I understand the unique risks you face. To safeguard your business, it’s crucial to have the right insurance coverages in place. Here are the main insurance coverages every day care center should consider, along with real-life claim examples for each coverage.
General Liability
Coverage Overview: General liability insurance provides coverage for third-party bodily injury, property damage, and personal injury claims that may arise during your day care operations. At a minimum, your daycare center should always have General Liability Coverage.
Claim Example: A child trips over a toy and suffers a broken arm. The parents sue the day care center for medical expenses and pain and suffering. General liability insurance would cover the legal costs to defend the lawsuit, any medical expenses that the family incurred, and any settlements or judgment amounts that a court might require.
Professional Liability
Coverage Overview: Professional Liability Insurance is also known as Errors and Omissions (E&O) insurance. Professional liability coverage covers claims arising from professional mistakes, negligence, or failure to perform professional duties. If your daycare center is providing educational activities, this coverage choice becomes vastly more important.
Claim Example: A parent alleges that their child was not properly supervised, leading to the child wandering off the premises. The parent files a lawsuit for negligence. Professional liability insurance would cover the legal defense costs along with any settlements or judgments that might arise from the court proceedings.
Commercial Property Insurance
Coverage Overview: Commercial property insurance protects the physical assets of your day care center, including the building, equipment, furniture, and supplies. If you have a loan for the space that your daycare uses for its operations, your bank will require you to carry this coverage.
Claim Example: A fire breaks out in the kitchen area, causing significant damage to the building and the contents inside. Commercial property insurance would cover the repair costs for the building and the replacement of damaged equipment and supplies.
Workers Compensation Insurance
Coverage Overview: Workers’ compensation insurance provides coverage for employees who are injured or become ill due to their job. This important daycare coverage type will cover not only medical expenses, but can also help make up lost wages due to missed work.
Claim Example: An employee slips on a wet floor while cleaning and suffers a back injury. Workers’ compensation insurance would cover the medical expenses, rehabilitation costs, and lost wages during the employee’s recovery period.
Abuse & Molestation Insurance
Coverage Overview: Abuse and molestation insurance is specialized coverage that addresses the risk of allegations of abuse or molestation at your daycare center. This sensitive topic can have severe financial and reputational consequences for day care centers. This is an absolute must consider coverage option for daycare owners.
Claim Example: A staff member is accused of inappropriate behavior towards a child. The day care center faces a lawsuit from the child’s parents. Abuse and molestation insurance would cover the legal defense costs and any settlements or judgments related to the claim.
Commercial Auto Insurance
Coverage Overview: If your day care center operates vehicles for transportation of children or staff during your operations, commercial auto insurance is necessary. Given the unique liability nature of transporting children, a personal auto policy is simply not an option for your business.
Claim Example: During a field trip, the day care’s van is involved in an accident, resulting in injuries to several children. Commercial auto insurance would cover the medical expenses for the injured children, as well as any property damage and legal costs associated with the accident.
Umbrella Insurance
Coverage Overview: While Umbrella Insurance may sound like a funny name, it provides additional liability coverage beyond the limits of your underlying policies. This can apply an extra layer of protection against coverages such as general liability or commercial auto insurance.
Claim Example: A severe accident occurs, and the resulting claims exceed the limits of the general liability insurance. Umbrella insurance would cover the excess amount, ensuring the day care center is not financially devastated by the high costs.
How To Get True Texas Daycare Insurance
Having the right insurance coverage is essential to protecting your daycare center from the seemingly endless risk that it faces each day. While the list of important coverages above are the important basics to consider, it also may not be enough to o safeguard your business, employees, and children you serve depending upon your unique needs and operations. Working with an experienced independent insurance is the key to helping you navigate the complex choices to obtain comprehensive daycare insurance coverage.
Working with Insurance For Texans allows you to know that your needs can be properly addressed while also taking a look across the marketplace for the best coverage possible. We understand what matters and how to help you be well protected against all that life in Texas can throw at daycare owner day to day. Let's have a conversation today about how to find coverage for your daycare.
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