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Elmer Said:

What kind of business insurance do I need for my daycare?

We Answered:

You can purchase a commercial package policy which will provide coverage to protect your business personal property, betterments and improvements, loss of income, and commercial general liability. If the daycare plans on purchasing an automobile, you will need a commercial automobile policy. If it will not own an auto, then you will need to add hired and non-owned auto coverage to the commercial package policy so that the daycare will be protected against any liability claims arising from an accident if an employee uses their personal auto to run errands for the daycare. You will also need to include coverage for claims of sexual abuse and molestation but this can also be added by endorsement to a commercial package policy.

In addition you will need a Workers Compensation Policy if you have employees. You should also consider and depending on your lease and state regulations might need to purchase a Commercial Umbrella or Excess Policy.

You should contact a local independent agent who specializes in commercial insurance to assist you reviewing your business and its exposures, in reviewing the state regulations for the size of your daycare (requirements for insurance will sometimes vary by the number of children the daycare will be licensed for) and reviewing your lease for the insurance requirements. You can find a local agent by entering only your town or city, state and zip code on the following website: http://www.iiaba.net/agentlocator/findag… This website belongs to the Independent Insurance Agents of America--they will not keep your information or use it in any way. You will be able to pull up all the agents in your community, check out their websites, see what companies they represent (most independent agents represent multiple companies) and choose an agent that is right for you and your business.

I hope this information helps. Good Luck

Terry Said:

What kind of business insurance am I going to need?

We Answered:

In addition to covering your kiosks and inventory you will, without a doubt, need general liability as well as products liability insurance. As these kiosks are probably going to be situated on the premises of other businesses they will require you to carry liability insurance and they will be asking to be named as additional insureds.

If you are dealing with placement in a mall the mall operator will probably be requesting that you have limits of liability between $1,000,000 and $3,000,000.