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Playkids
11-29-2011, 09:05 PM
This may seem like a stupid question but...In Ontario, running a home daycare should you contact your insurance company?

mlc1982
11-30-2011, 12:43 AM
I'm not sure about Ontario but in Calgary it's wise to do so. You never know if and when something might happen to children in your care. Better to be safe than sorry, in my opinion.

Katskids
11-30-2011, 05:42 AM
Hi! Absolutely....not worth the risk of not having it! I am in the GTA and my insurance for having 3 kids in my daycare is $30 per year!!!! Costs next to nothing but could save you everything.

Judy Trickett
11-30-2011, 07:11 AM
Yes. Absolutely. In fact, if you do NOT disclose you run a business from your home and let's say, your home burns down, they can void your policy and not assume any cost to rebuild or reimburse you for losses.

playfelt
11-30-2011, 08:38 AM
Yes your insurance company needs to know. Your home policy will not cover the daycare toys, equipment, supplies or any liability should one of them be hurt. You need to inform them and get at minimum a rider put on your home policy that says you have a daycare and states how many children are covered and for what - with some it is only 2 or 3 kids too. You can then add the business and get a home business policy added - a lot cheaper than a separate business policy. This will cover the 5 children in most cases. State Farm and Cooperators will cover 5 children. Allstate will only cover 3. Not sure about some of the smaller private firms but be sure to get the number of children in writing as it may not be five and also if your own children are included in the count of 5.

Spixie33
11-30-2011, 11:13 AM
I am in Ontario and I got insurance a few months after I opened the daycare. Initially I never knew there was such a thing or else I probably would have done it right away.

I think I pay about $80 or $90 a year more for the insurance. It does offer piece of mind in case someone breaks an arm or leg, falls down the stairs or parents want to sue you for any injuries. You never know...right?

I called around and my current insurance company did cover me for 5 daycare children plus my own for a maximum of 7 children at any given time on premises.

I called a few others like Belair and they can only cover up to 5 INCLUDING your own children so definitely beware how many they cover.

Also...once you call the insurance company and tell them you have a home daycare they will mandatorily add the insurance. I told my insurance company I would think ab out it and discuss with my husband and they said "No...now that we know you are offering a daycare from your home you need to change the policy." So....they probably will not even let you consider not doing it once you tell them.

playfelt
11-30-2011, 11:43 AM
Also remember that the extra you pay for the "daycare business" is 100% deductable and the amount you pay for the basic house policy is put into the use of home calculation so that also helps mediate since it makes a bigger deduction at the end of the year.

Yes as you found out without the rider on your house insurance there is no point in paying for the house since in a disaster all claims would be denied anyways even though you had been paying into the plan because of not disclosing and properly covering the daycare.

carriewakem
02-15-2012, 11:06 AM
I'm having trouble locating an insurer. Who are you insured with?

michellesmunchkins
02-15-2012, 11:10 AM
I have mine through state farm and they cover the 5 daycare kids plus my own. Can't remember how much per year, but nothing major...if memory serves it was about $15 a month. Well worth it!

playfelt
02-15-2012, 11:11 AM
Cooperators and State Farm are two I know that will cover 5 daycare kids in Ontario. I am with cooperators. Allstate only covers up to 3. These are the three big companies that you can find in most cities but each will have a couple smaller firms probably. Just make sure you get in writing that it is 5 plus your own.

sunnydays
02-15-2012, 12:08 PM
I am with Aviva and they also cover 5 daycare kids.

Inspired by Reggio
02-16-2012, 04:00 PM
....Just make sure you get in writing that it is 5 plus your own.

Agreed - I have had many peers whose policies stated 'up to 5 children' and they ASSUMED that meant 5 children plus their own in care only to find out it meant 5 in TOTAL when they called to inquire specifically -so had an issue occurred they would not have covered the expenses it was found that there were more than 5 children in attendance in the program when the incident occurred and therefore the policy was 'void' :(

I think people assume that your own children are not counted because would 'sue themselves' but we need to remember it is not just about being 'sued' the number of children is also about the 'risk statistics increasing' with the more children in care ... as well caps use are based on the 'best practice' viewed in the industry and since in Ontario for example 'licensed agency home childcare ratios are a 5:1 including your own ' most follow that however if your Home Office for the insurance company is in another province it might be LESS or MORE that are insured - or your children are counted or not counted and so forth ... definitely prudent to ASK for sure and to demand it 'in writing' in the policy notes!