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Old 09-12-2013, 09:10 PM
Cherry Hill Daycare's Avatar
Cherry Hill Daycare Cherry Hill Daycare is offline
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Default LLC Company- HELP

Hi, I'm opening up my own daycare in 2 weeks and I am licensed and very excited. However, my husband thinks I should get a LLC Company insurance policy. How important is this and how many of you actually have one? Also, how is the best way to get one?
Thank you for your opinion!
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Old 09-13-2013, 10:11 AM
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Laurel Laurel is offline
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Quote:
Originally Posted by Cherry Hill Daycare View Post
Hi, I'm opening up my own daycare in 2 weeks and I am licensed and very excited. However, my husband thinks I should get a LLC Company insurance policy. How important is this and how many of you actually have one? Also, how is the best way to get one?
Thank you for your opinion!
What does LLC mean?

I have liability insurance for my daycare. I use DCI, Inc. (Day Care Insurance). I have been very happy with them.

Laurel

Edited to add: http://dcins.com/home.php
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Old 09-13-2013, 10:12 AM
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itlw8 itlw8 is offline
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I would go on the tax forum and ask Tom.. Liability Ins. is extremely important are you a LLC or sole provider?
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Old 09-14-2013, 08:50 PM
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Starburst Starburst is offline
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Quote:
Originally Posted by Laurel View Post
What does LLC mean?

I have liability insurance for my daycare. I use DCI, Inc. (Day Care Insurance). I have been very happy with them.

Laurel

Edited to add: http://dcins.com/home.php
LLC means a Limited Liability Company. An LLC is like a bubble that protects your nonbusiness related assets. Say if a child gets hurt at your business and the family sues you and you have an LLC then they can only go after your business assets but not your personal assets like if you were a sole proprietor (personal assets: home, car, spouse's car, children's college fund).

She talks a little more about it in this video:
http://www.startapreschool.com/training/business.html
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Old 09-15-2013, 07:22 AM
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Blackcat31 Blackcat31 is offline
 
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Quote:
Originally Posted by Cherry Hill Daycare View Post
Hi, I'm opening up my own daycare in 2 weeks and I am licensed and very excited. However, my husband thinks I should get a LLC Company insurance policy. How important is this and how many of you actually have one? Also, how is the best way to get one?
Thank you for your opinion!
Here is a blog entry by Tom Copeland about LLC's and whether or not it is right for you.

http://www.tomcopelandblog.com/2011/...mpany-llc.html

He has some fantastic info on his site.
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