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By: MacGregor C. Howey

Owner of Equilibrium Insurance Partners

419-386-0870

Running a daycare in Ohio is a rewarding venture, but it also comes with its own set of risks. From potential injuries to property damage, it's crucial to protect your business with the right insurance coverage. This comprehensive guide will provide you with everything you need to know about Ohio daycare insurance, ensuring you can make informed decisions for your business.

Understanding the Importance of Daycare Insurance

Daycare insurance is a specialized type of business insurance designed to cover the unique risks associated with running a daycare. It's not just about protecting your business financially; it's also about ensuring the safety and well-being of the children in your care.


Without adequate insurance, a single accident or lawsuit could potentially put you out of business. That's why it's essential to understand the importance of daycare insurance and the specific coverage options available to you in Ohio.

Types of Daycare Insurance Coverage

Daycare insurance typically includes several types of coverage, each designed to protect different aspects of your business. Here's a closer look at the most common types of daycare insurance coverage:


General Liability Insurance


This type of insurance covers claims for bodily injuries or property damage that occur on your business premises. For example, if a child slips and falls while in your care, general liability insurance would cover the medical costs and any legal fees if the parents decide to sue.


General liability insurance also covers damage to others' property. For instance, if a child accidentally breaks a neighbor's window while playing, your insurance would cover the cost of repairs.


Professional Liability Insurance


Also known as errors and omissions insurance, professional liability insurance covers claims related to the professional services you provide. If a child is injured because of your negligence or failure to provide the appropriate level of care, professional liability insurance would cover the associated costs.


This type of insurance is particularly important for daycare providers, as it covers situations that general liability insurance does not. For example, if a child becomes ill because you failed to properly sanitize toys or surfaces, professional liability insurance would cover the costs.


Commercial Property Insurance


Commercial property insurance covers damage to your business property, whether you operate your daycare out of a commercial building or your home. This includes coverage for damage caused by fires, storms, theft, and vandalism.


It's important to note that commercial property insurance typically does not cover flood damage. If your daycare is located in a flood-prone area, you may need to purchase additional flood insurance.

How to Get Daycare Insurance in Ohio

Obtaining daycare insurance in Ohio involves several steps. Here's a general overview of the process:


  1. Identify your insurance needs: Before you start shopping for insurance, take the time to assess your daycare's specific risks and determine what types of coverage you need.
  2. Shop around: Contact several insurance providers to get quotes. Be sure to compare not only the cost of the policies but also the coverage they provide.
  3. Review the policy details: Once you've chosen a policy, review the details carefully to ensure it provides the coverage you need. If you have any questions, don't hesitate to ask your insurance provider.
  4. Purchase the policy: After you've reviewed the policy and are satisfied with the coverage, you can proceed with purchasing it.

Understanding Ohio's Daycare Insurance Requirements

Ohio has specific insurance requirements for daycare providers. These requirements vary depending on whether you operate a family daycare (in your home) or a commercial daycare center.


Family daycare providers in Ohio are required to carry a minimum of $100,000 per occurrence and $300,000 aggregate in liability insurance. Commercial daycare centers, on the other hand, must carry a minimum of $300,000 per occurrence and $1,000,000 aggregate in liability insurance.


It's important to note that these are the minimum requirements. Depending on your daycare's specific risks, you may need to carry additional coverage.

Conclusion

Daycare insurance is a crucial aspect of running a daycare in Ohio. It not only protects your business financially but also ensures the safety and well-being of the children in your care. By understanding the different types of coverage and Ohio's specific insurance requirements, you can make informed decisions and find the right insurance for your daycare.


Remember, insurance is not a one-size-fits-all solution. It's important to assess your daycare's specific risks and work with an experienced insurance provider to tailor a policy that meets your needs. With the right insurance in place, you can focus on what you do best: providing a safe and nurturing environment for the children in your care.

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