Yes, you will need a license to operate your daycare and to obtain the proper insurance coverage.
Liability insurance is a must for any daycare facility. Othe policies you might need depend on the size of your operation.
As the owner of a home-based business, it can be difficult to know where your home insurance ends and your commercial insurance begins. Under Florida law, your home insurance policy cannot deny, cancel, or refuse to renew your policy if you own an at-home daycare. However, neither are they permitted to provide coverage for liability claims arising out of your business. Plus, your home insurance likely won’t cover damage to any property used solely for your business.
To ensure that you are fully protected from claims, you should have adequate commercial coverage.
You are not required to have worker’s compensation insurance in Florida unless you have 4 or more employees.
Insurance premiums depend on the size of your daycare, how many children are enrolled, and many other factors. At FDCI, we work hard to help you understand what coverage you need and to get you coverage at prices you can afford.
Property insurance will cover damage to your home and its contents caused by activities related to your daycare activities.
Be sure to implement strict safety protocols at your home and keep any valuables away from your daycare activities.
Every business has a unique set of needs and risks, so your exact policies should be carefully customized to your daycare facility. However, there are several types of insurance that you should consider, such as general liability insurance, professional liability insurance, property insurance, workers’ compensation coverage, and abuse and molestation coverage. Contact FDCI today to discuss your needs in more detail.
If you use vehicles to transport children (or for any business-related activities), commercial auto insurance is necessary to cover accidents and liabilities.
In Florida, workers’ compensation coverage is only required if you have 4 or more employees. However, this coverage exists for a reason. Without workers’ comp insurance, employees injured on the job can file a lawsuit against you for medical bills and lost wages. These costs can be extremely high, so workers’ comp is in your best interest.
Yes, property insurance typically covers outdoor equipment and areas, but you should confirm this with your insurance provider.
If you store sensitive information digitally, cyber liability insurance is recommended to protect against data breaches and cyber attacks.
Professional liability—or Errors & Omissions—helps protect you against legal claims of negligence or failure to deliver on services.
The cost of daycare insurance depends on various factors, including:
Abuse and Molestation insurance protects you and your business against allegations of abuse or molestation. This coverage is essential for day care centers due to the vulnerability of the children in your care.
Your protection is only as good as your insurance policies. That’s why it’s important to reassess your coverage annually.
By re-examining your needs, risk exposure, and budget, the friendly agents at FDCI can make sure you have the coverage you need. If not, we’re happy to recommend policies that work for you.
To ensure that you are fully protected from claims, you should have adequate commercial coverage.
Your insurance premiums are based on a number of factors, but ultimately reflect your business’ exposure to risk. Therefore, reducing that risk is your best chance at increasing your insurance savings.
Implementing safety protocols, maintaining a clean and secure facility, providing staff training, and having a good claims history can help reduce premiums.
Yes! Many carriers offer endorsements or additional coverage options for off-site activities and field trips. Contact our offices today to learn more.
As a daycare provider, you are responsible for taking reasonable precautions to keep children safe. Fill out an incident report for your records and notify the child’s parents immediately.
In the incident report, make a note of any details that may have contributed to the incident and take any steps possible to prevent future injuries.
You don’t need to file an insurance claim unless a lawsuit is brought against you.
General liability insurance protects your daycare from claims of bodily injury or property damage. This includes incidents like a child injuring themselves on the playground or a parent slipping and falling on your premises.
Business interruption insurance helps cover lost income and ongoing expenses if your daycare is temporarily closed due to a covered event, such as a fire or natural disaster. This ensures that you can continue to pay bills and meet financial obligations while your business is closed.
You care for them. We care for you.
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