5 Insurance Tips for Homeowners with Childcare Business in their Home

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When it comes to running a childcare business from home there are always lessons to be learned, whether you have been in this industry for years or are just getting started. Check out the following tips that can help prevent accidents and eliminate risk in your home business.

  1. Get written confirmation from your home insurance provider that they are aware of the regulated/licensed home childcare business in your home. Not letting them know could result in an unrelated insurance claim being denied later on because you failed to disclose that you have a business in your home.
  2. Consider purchasing a separate childcare insurance policy for your home childcare business that may include coverages for your childcare toys & equipment, business interruption, liability and abuse. Allegations of abuse against childcare providers or someone in the household can be devastating, so it is wise to ensure that your policy does include abuse coverage.
  3. Prepare a 72 hour emergency kit. Make sure you have enough supplies for your own family as well as the children in your care. No one wants to think about worst case scenario, but if the past couple of years have taught us anything it is to be prepared for the worst.
  4. Do not allow the children in your care to use the family trampoline! Trampolines are a leading cause of injury and send thousands of children to the emergency room every year.
  5. Make sure the exterior of your home is free from hazards. In the winter when parents are dropping off and picking up their children, slipping on snow and ice is a common and often costly occurrence. Consider keeping a log of snow clearing and salting during the winter months to help regulate your prevention measures.

If you have any questions or would like to talk about your home or childcare insurance needs, contact our experienced brokers by phone at 833-601-5554 or email us at childcare@magenta-ins.ca