Insurance

Can anyone share with me how much more you have to pay for the extra insurance when having a daycare in your home? I currently pay $600/yr for house insurance. I was wondering if the additional insurance is expensive?

Thank you! :-)

[Michael]

Your Homeowners Insurance may cover your home daycare.

[MarinaVanessa]

Most homeowner's insurances don't cover a daycare run at home but I have heard that some do. The best bet is to call your insurance cimpany and have them give you rates. I have State Farm in CA and I had to get a rider that only costs me an additional $75 a year and covers $300,000. There's different types of coverages depending on where you live and whether or not you are required to be registered or licensed or not. Call to check.

[momofsix]

Just be careful, when I called my homeowner's agent to check if they would cover me (they don't) they said I HAD to get additional coverage or my regular homeowner's would be terminated because of the uninsured daycare business in my home. I now have a seperate policy that cost me $360/year.
I wish I never would have called.

[melskids]

my homeowners doesnt cover the daycare and costs 600 / yr. i have a seperate policy through another company for daycare and that is also 600/yr. if i expand my daycare (which i am thinking of doing) it will double. it is expensive, but worth it, i think. it is a $1 million policy, not that, heaven forbid, you could put a price on a child.

[MarinaVanessa]

Originally Posted by momofsix

Just be careful, when I called my homeowner's agent to check if they would cover me (they don't) they said I HAD to get additional coverage or my regular homeowner's would be terminated because of the uninsured daycare business in my home. I now have a seperate policy that cost me $360/year.
I wish I never would have called.

Just reminding everyone on here that insurance should be treated just like any other purchase. Call around and ask for pricing. I thought I was getting a good deal with AllState before I changed to State Farm until I got a quote and realized that I could be getting double the coverage for all 3 of my cars at lower rate. Then once we added our homeowner's insurance it lowered even more. I'm sure that one of the reasons that we pay so little for our daycare rider is because of all of the policies we now have with State Farm (3 cars, 1 motorcycle, house, and life insurance policies on all of us). Better believe that once a year we call every insurance company and gets quotes again, but have since then stuck with this one.

[originalkat]

I have American Family and my policy is $120 more per year for $300,000 in coverage. That only covers 6 kids and if I had more then I would have to go through their broker to and it would be more expensive.

[emosks]

My homeowners does not cover my daycare. I have an additional policy that covers up to $3,000,000. It's $580 a year.

Nationwide will insure a family daycare and is very reasonably priced with $300,000 of liability.