The work of watching children comes with major responsibilities, and any such responsibilities have accompanying risks. To protect against potential risks, daycares should have policies and follow practices that ensure the safety of all staff and kids. Texas daycares should also have daycare insurance, just in case something happens.
Daycare insurance is a specialized commercial insurance for child care centers. Policies can protect child care centers from a variety of liability and property risks that they’re exposed to.
Texas state law generally requires that daycares have at least $300,000 in liability coverage. Higher limits and other protections are broadly recommended. Moreover, the requirement extends to “family home or other daycare” businesses.
While there are possible exceptions, it’s normally not recommended that daycares go without insurance as this can lead to major risk exposure.
Daycares that have used a policy’s $300,000 in liability coverage and are having trouble finding another policy should work with an insurance agent specializing in child care insurance. A specialized agent can check what options are available for the business.
It’s not just family homes and standard daycares that get child care insurance . While these businesses typically do need this type of policy, so too might a range of other businesses that offer child care. A more extensive list of businesses that may want one of these policies includes:
Many of the coverages included within daycare policies focus on liability protections. For example, the following coverages are all commonly available through these policies:
In addition to these, daycares might also need commercial property coverage, tenants betterment coverage, business income coverage, commercial auto coverage and other protections. A specialized agent can help daycares determine which coverage choices make sense for their situation.
Affidavits and waivers might aid in defending against a liability lawsuit, but any protection they give is different from an insurance coverage. These generally aren’t an adequate substitute for liability insurance coverage.
While affidavits and waivers might serve as potential defenses during a lawsuit, they aren’t foolproof safeguards against childcare insurance.
Texas state law generally requires that daycares carry a minimum of $300,000 in liability coverage, but this doesn’t mean that only $300,000 is sufficient coverage for all businesses in the industry. A single allegation, not to mention a successful lawsuit, could result in legal fees and other costs of $300,000 or much more.
For specific help with choosing liability limits, daycares can talk with a knowledgeable insurance agent. An agent who knows these policies well will be familiar with the limits that daycares typically carry, and be able to assist in selecting a specific amount.
If you need help insuring a daycare or other child care center that’s in Texas, reach out to the independent insurance agents at Wise Insurance Group. Our team will help you find daycare insurance that keeps your business well-protected.