Insurance

[withtheweeones]

Hi Ladies,
I am in ontario and I am trying to get a local insurance company (Guelph) but they are telling me that they only cover 5 kids MAX including my own. I have one guy looking into alternatives to this.....
Any suggestions?
Thanks
Lisa

[ECE53]

The only company that I found was cooperators. They covered 5 children plus my own. You have to have your house policy with them then you take a rider for a home daycare for an extra amount, for me it was an extra $400. It was a little more expensive overall but the peace of mind was worth it.

[withtheweeones]

ok great thanks.....do you know if that covers outings as well? I was just talking to a broker and he said i would have to register the daycare and then as a separate business insurance it would cost 1500-2000 a year?!?!?! or if I have a max of 5 including my own it would be 25-50 per kid but only on at my house.....

[ECE53]

It covers walking outings and visits to the park. Not my vehicles, my car policy was with another provider. Co operates could not match their price ....and I don't do car trips.

[michellesmunchkins]

Mine is with state farm and they cover the daycare completely...plus we have an inground pool and had no issues getting full insurance. I think its like $15 a month over our house insurance.

[jodaycare]

I am with TD Monnex and I am covered for 6 kids, my liability is $2,000,000. I have a hot tub that is enclosed and they covered me no problem.

[Inspired by Reggio]

Whoever you choose - just make sure that your policy clearly STATES without any ambiguity that it is 5 daycare children PLUS your own ... I would not take the 'verbal word' of a broker or agent that you are ok unless it clearly states this on your policy cause it is what is in 'writing' that matters!!!!

I know lots of provider who THOUGHT they were covered because their policy stated 'home care Ryder with coverage for 5 children' and they assumed that meant 5 daycare children and than their own did not matter cause whose going to sue themselves ... but it meant TOTAL CHILDREN IN CARE could not be more that 5 ... so it was technically including their own children if they were 'home' during business hours and in 'care' aka not old enough to be left unattended.... a few of them ended up having to change providers after a fellow peer ran into trouble over this assumption.

Insurance companies LOVE using a technicality in wording to get out of paying out!

I have heard some providers who went with Wabasabani or however it is spelled?

I am with Cooperators - my policy just states the same as above - home childcare ryder coverage for up to 5 children - I was told verbally by the agent it is 5 children in care max but I do not have any of my own in care so it is not an issue for me ... the liability portion covers me both on and off site for business purposes.

I also have an additional liability ryder for the van cause we do field trips and outings ... it only costs me a few hundred extra a year for this ... you have to make sure they do not oversell you insurance meant for SCHOOL VEHICLES or TAXIS where the sole purpose of the business and therefore vehicle is to transport clients back and forth cause that costs HUGE amount cause statistically the vehicle is on the road all day and therefore the risk is 'higher' of an accident occurring ... you just want additional liability Ryder on your regular vehicle insurance for 'occasional transport of children'.

[bright sparks]

I am with TD Monnex and I am covered for 6 kids, my liability is $2,000,000. I have a hot tub that is enclosed and they covered me no problem.

Is this 6 including your own?? I currently have insurance for 5 plus my own with State Farm. As my kids are older and in school I am looking into fostering so wanted to find insurance that would cover me for more children. Thanks

[playfelt]

Those foster kids will count in your daycare numbers since they are not your own kids so unless they are over 10 years old you are already at your maximum with 5 kids. Not sure there is any policy that will since 5 is the legal limit in Ontario.

[jec]

I have insurance with Royal Bank and they cover me for 5 kids PLUS my own.
I don't take my daycare kids out in my vehicle

[bright sparks]

Those foster kids will count in your daycare numbers since they are not your own kids so unless they are over 10 years old you are already at your maximum with 5 kids. Not sure there is any policy that will since 5 is the legal limit in Ontario.

You are probably right.