Running a business in your home can pose challenges when it comes to insurance – especially when it comes to “high” liability exposures such as children! Do you have the insurance needed to protect your business?
Childcare providers can work with a licensed agency. The agencies are the license holder and enter into contracts with providers to care for children. The homes are vetted, inspected and are required to meet quality standards set by the Ministry of Education and the agency.
In Ontario, unlicensed childcare providers can care for up to 5 children but those working with agencies are able to care for up to 6.
At Magenta, we offer a unique online insurance solution for childcare providers that are working with a licensed agency.
Our package includes:
Commercial General Liability – provides coverage in the event that a third party claims for injury or damage to their property $2 mill to $ 5 mill limits available. An example would be if a child was injured while in your care or if a parent slips and falls on your driveway when dropping off or picking up their child from your home
Optional Abuse Coverage – coverage that provides compensatory & defense expense up to $100,000 on Ontario platform.
Optional Contents Coverage – coverage that protects damage to your business items such as toys, play equipment, and supplies you use exclusively for you childcare operation. $10,000 limit is available in Ontario
Business Interruption coverage – is included when you purchase contents coverage and protects loss of income due to property damage. An example would be if a fire or tornado damaged your home including its contents, and you are unable to operate your business until the property is repaired or rebuilt.
Contact our experienced brokers today to learn more 519-601-5554 or visit our quoting platform https://magenta-ins.ca/regulated-home-childcare-ontario/