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Daycare Insurance Discuss your insurance and liability concerns here.

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Old 06-09-2010, 12:38 PM
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Default Daycare Insurance?

I am just wondering if anyone of you have daycare liability insurance! I am strongly looking into this and I am surprised at the quote I recieved today! I contacted American Family, I told them liability for 8 daycare children and he just called a quoted me $526.00 an annual fee! I told him I would call him back during naptime, because it was right when lunch was getting done and just about naptime and I couldn't talk at the moment! So I am going to call him back shortly, but I am just wondering how much everyone else pays, for how many children, and what is all covered! That price is WAY more than I guess I was expecting! Please fill me in as I guess I am pretty clueless when it comes to this! Thanks Megan
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Old 06-09-2010, 12:43 PM
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My homeowners would not cover my daycare so I went with a local agent. My policy is for $3,000,000 and its $580 a year. Totally worth it in my opinion.
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Old 06-09-2010, 12:45 PM
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Also, we have a hot tub and I opted to not add on water liability since by law I am required to have it locked and not in use during daycare operating hours. That would have been another $561 on top of what I pay a year!!
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Old 06-09-2010, 02:59 PM
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I have State Farm Homeowners insurance and had to add a rider but it wasn't nearly as much as either of yours. I am covered for $300,000 for up to 6 kids and pay only an additional $75 a year. It probably has to do with the fact that we have home, 3 cars, a motorcycle, life policies etc. all with them. But even then now I've learned to feel lucky that I don't pay over $500 a year like others do. But in any case it's totally necessary. Better to pay $500 a year than to risk loosing your home over a serious accident in daycare.
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Old 06-10-2010, 06:03 PM
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I see you are from Minnesota - I am as well.

I have license for my daycare and go through Adults & Childrens Alliance. http://www.acainc.org/MN_insurance_program.phtml

I pay $320 for the following:
Liability
$600,000 Occurrence
$1,200,000 Aggregate

There is also a $43 membership that is required - but I think it's well worth it.
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Old 06-10-2010, 06:08 PM
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mine is 600/yr as well, with 1 million $$ coverage.
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Old 06-13-2010, 04:58 PM
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Default business liability insurance

I've posted an insurance directory at www.nafcc.org that lists a number of insurance companies across the country. Go to Business Center and scroll down to the heading Legal and Insurance.
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Old 06-13-2010, 08:25 PM
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I have American Family and I was quoted $126 per year for $300,000 in liability coverage. They said I could only have 6 kids (including my own) for this rate. Otherwise, they can still insure me but would have to go through a broker so the price is higher for more kids. I dont know if this is the policy everywhere or if it changes from state to state.
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Old 02-28-2016, 09:04 PM
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This is my first time opening a daycare God showed me in a vision the building and what I would be doing, so I am stepping out in faith. I know that I have a lot to including obtain insurance, purchasing furniture, but I really need to find some good sites for daycare furniture that has good prices, any suggestion? I am just taking my class for my directors licenses on-line and taking my training of 420 hours of volunteer work. Wish everyone well.
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