Unregistered 01:18 PM 06-02-2010
I am in NY. Do I need to carry insurance if I am not registred or liscensed? I only have 2 kids at any given time, which is the max I can have in my state without being registred.
judytrickett 01:57 PM 06-02-2010
I'm not sure of the laws in your state. But I wanted to say that IMO, insurance is a MUST whether you legally need it or not. You should always protect yourself. Insurance is relatively cheap. For five kids insured I pay only $17 a month and that is good peace of mind if you ask me.
You don't ever want to be put in the position of losing your personal property because of a law suit due to your business.
Janet 03:01 PM 06-02-2010
I'm not sure what the law says about having a separate insurance policy aside from home owners insurance, but I have a separate policy anyway. I'm a big believer in covering my butt just in case something happens. It's a small expense and it's nice to have the added peace of mind. I would absolutely recommend it even if it isn't required.
melskids 02:32 AM 06-03-2010
i'm in NY and its not required, not even when you are licensed. they dont require it until you become a group family provider. however, like the others have said....you should cover your butt. you NEVER know what could happen. i have a seperate policy from my homeowners. i think it is around $55 or 60 month, with 1 million dollar coverage. when i wasnt licensed, and only had 2 in care, my homeowners actually covered it because it was only 2 kids.
MarinaVanessa 08:17 AM 06-03-2010
That's what I know also and I live in CA. It's not a requirement here either but if we don't carry it or at least a bond we have to notify the families that we do not carry insurance. Even if you have regular homeowner's insurance be careful. Some insurances won't cover you in case of damages if you have a daycare because of the nature of the business. I just added a rider to my homeowner's insurance for daycare in my home specifically and I pay only $75 a year. Dirt cheap for peace of mind if you ask me.
emosks 10:45 AM 06-03-2010
I don't understand why you wouldn't WANT insurance??? You never know what could happen or what kind of families you are dealing with!!!
Daycare Mommy 01:14 PM 06-03-2010
No idea if you HAVE to have it. We don't have to here, but I got it anyway. It's not for the daycare families, it's for YOU! Get it for your own safety. All it takes is one accident or false accusation and you could be financially destroyed.