As a child care provider, you know that kids are naturally prone to accidents and illness, and your daycare will see it’s fair share of both. But did you know that a general liability policy may not have you completely covered when it comes to these risks? Health and Accident policies are the least purchased, but most needed type of insurance. Learn how this policy will complete your daycare insurance plan.
When Does A Health & Accident Policy Matter?
General Liability Insurance will respond if your daycare was in fact negligent and an accident occurred. For example, if you knowingly do not repair or remove a piece of playground equipment, and one of your kids falls and breaks their arm. However, what if one child pushes another off of some playground equipment resulting in an injury?
The daycare was not technically responsible, but the family wants to sue for medical costs. This is when a health and accident insurance policy would come into play. This type of coverage provides for you if someone is injured at your daycare but not because of your own negligence. This policy also would cover illnesses.
What Will The Costs Look Like?
Most general liability policies do not have any sort of health and accident insurance attached because it is considered a type of health insurance. For this reason, it is essential to purchase a separate health and accident policy. Generally, such a policy would allow up to $25,000 per child, costing anywhere from $500 to $1,500 in annual premiums.
Considering the likelihood that an accident will occur at your daycare that is not due to your negligence, a health and accident policy is essential to protecting your business. With accident insurance you won’t have to worry about unexpected medical costs that other policies may not cover.