Expanding and Now Insurance is a Mess...
 

I know we had an insurance thread awhile back, but I couldnt find it. So anyway, I am expanding from Registered (6 kids) to Licensed (9-10 kids). But my insurance company (American Family) who I have Liability Insurance with for the 6 daycare kids told me that they will not even cover me AT ALL if I go over 6 kids. So now I am calling around. State Farm said they would cover me for home and auto if I proved that I had seperate business libility coverage. So they are working up a quote. So far no place I have called will do business liability for over 6 kids.

What insurance do you use? Is it under your homeownwers or a seperate policy?:confused:

Thanks Guys!

We have Allstate for our home/auto and when I opened up my daycare I simply had to add a daycare rider to my homeowners policy - and increase my libaility limits to 300,000/100,000 - the required limits in my state. It costs me an extra $60/year and still comes out of my escrow account. Good luck!

We use a local company. I had a hard time finding someone that would do a group licensed home too. Not sure if my company would do an out of state though but it's Newaygo Insurance Agency (http://www.newaygoinsurance.com/).

I use State Farm and since we already had our homeowner's insurance and cars with them we just got a rider. We used to have AllState but switch over to State Farm and we got more coverage for less money. Our cars actually got double the coverage for a little less money than what we were paying at AllState so it ALWAYS good to shop around and get quotes. You just never know.

travelers.......but its 1200/yr :(

Thanks Guys!
 

I actually ended up calling the underwriting department at American Family and she said if I get a seperate business liability plan with them then my homeowners/car will stay the same. The agent told me otherwise. So tomorrow I am going to go in and see about getting a quote for that. I will let you know how it goes. If it doesnt work out I will try contacting some of the others you all mentioned.
THANKS!

Originally Posted by melskids:
travelers.......but its 1200/yr :(

:eek: Ours is only $580 a year and it's for $3,000,000 Liability with $1,000,000 maximum claim, $10,000 Medical Expenses, $50,000 Abduction Coverage!!

Originally Posted by tmcp2001:
We have Allstate for our home/auto and when I opened up my daycare I simply had to add a daycare rider to my homeowners policy - and increase my libaility limits to 300,000/100,000 - the required limits in my state. It costs me an extra $60/year and still comes out of my escrow account. Good luck!

How many kids does your Allstate policy cover?

Okay, I finally got some things situated. The American Family agent requested an exception which the underwriters approved. They are using a broker to find a seperate business liability plan to add on. I am pretty happy! I was starting to stress.

Originally Posted by originalkat:
How many kids does your Allstate policy cover?

I'm licensed for 10 BUT I have 4 children of my own that count in my numbers so my policy covers my children plus 6 additional children. I am not requred to have a separate business liability policy - I simply have to meet the required $ limits. Hope you are able to get everything worked out!

Originally Posted by emosks:
:eek: Ours is only $580 a year and it's for $3,000,000 Liability with $1,000,000 maximum claim, $10,000 Medical Expenses, $50,000 Abduction Coverage!!

50,000 for abduction coverage?

The one who tries to abduct one of my kids is the one who's gonna need the coverage. :lol::lol:

Originally Posted by nannyde:
50,000 for abduction coverage?

The one who tries to abduct one of my kids is the one who's gonna need the coverage. :lol::lol:

Right?!? :eek:

Daycare insurance
 

I am an insurance agent in Minnesota and wanted to share some info on daycare insurance. There is a reason why a Daycare Liability rider that is added to your Home policy costs so much less than a stand alone Childcare Business insurance policy. Those riders offer very limited coverage.

First, those type of riders only provide liability coverage while the kids are on your property. If you go on any field trips or take any of the kids off of your property, your policy will not provide any coverage.

Second, those riders do not typically cover food borne illness.

Third, the riders do not provide any Sexual Molestation or Abuse coverage. Remember, you do not have to be guilty of anything. The mere allegation can cost you a substantial amount in both defense costs and damage to your reputation.

I hope this info is usefull to you. I would be happy to answer any questions any one has.