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  1. #1
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    How much do you pay for home daycare insurance?

    I am looking to get insured and am wondering what others are paying and who you go through? We are located in South Western Ontario, and were just quoted $1000/year but that seems like a lot to me!
    Any tips/advice?

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  3. #2
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    Generally you just get a rider on your current house insurance and it's about 250$

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    I am north of the GTA and I think I pay around $90-100 a year more on home insurance than before once I insured my house for the daycare.
    Do you mean you are paying $1000 a year for the house with daycare insurance or that it will cost $1000 a year extra?

  5. #4
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    Maybe my husband misunderstood him (he was on the phone with him), but he made it sound like it was going to be $1000 more per year. when you called to arrange your insurance id you actually say "I'm opening a home daycare?". When we called, my husband discussed with the gentleman that I was thinking of opening a home daycare and was looking into insurance. He said that I need to forward all of my qualifications and fill out an application but it was looking to be about $1000/year. Seems too much!!!

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    That sounds totally crazy!! I have a small daycare, only 3 kids and we have a rider on our home insurance policy to cover those three kids for $38 per year. We are with TD Monex in gta area. My husband added it to our policy over the phone with no details other than number of children!!

  7. #6
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    Just talked to my husband and he didn't misunderstand and that it would be $1000 MORE per year!!! Spixie and Crayola, may I ask who you get your insurance through? Thanks!

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    Check out co-operators or state farm. They are the only two major companies that still will cover 5 daycare children. I have a rider on my home insurance and it is around $300 a year. Be very careful to get in writing how many are covered. Allstate will only cover 3.

    One of the reasons it is so high could be because you needed 5 children covered not the usual 3 allowed with a rider. If that is the case consider switching your policy to one of the first two I mentioned. We are with co-operators for house and auto and have been very satisfied with how we have been treated.

    Also there is a difference between business insurance and a rider on your home policy for a home based business. I also pay $50 a year to cover my educational felt I sell and that covers things like if it is lost in a disaster or a person falls coming to pick up an order that sort of thing. Again on my home policy not a separate business policy.

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  10. #8
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    Aviva is also good. I found them to be a lot cheaper than cooperators. We were with TD Monex, but they don't really cover daycare. They would have added a rider, but it only covered things like parents slipping and falling on the walkway...it would not cover anything that happened to a daycare child. When calling around, you need to be careful to get all the details of what is covered.

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    Thank you!

  12. #10
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    Quote Originally Posted by Lisa View Post
    Just talked to my husband and he didn't misunderstand and that it would be $1000 MORE per year!!! Spixie and Crayola, may I ask who you get your insurance through? Thanks!
    Hi Lisa
    I am with coseco/DirectProtect
    They cover me up to 5 daycare kids...PLUS my own. So I am covered up to 7 kids basically if needed. I called them after I already had daycare going because quite frankly I never knew that you should/could have insurance on the daycare until i took a course and I got scared at the thought of lawsuits for broken arms or accidents.
    I was so close to shifting insurance companies earlier this year because I found another company much cheaper for our vehicles but they would not cover me for the same amount of kids. Be careful with that. Some insurance companies will say they cover you for 5 kids but that is INCLUDING your own. be sure to specify if your kids are separate or included in their count.
    I just made a simple phone call to my current insurance company and once I asked them the cost they said I HAD To insure the daycare now that I admitted to having a daycare running in my home.
    I don't mind. It really isn't much money a year and it does give peace of mind that if a parent does get lawsuit -crazy (God forbid something were to happen).

    I hope this links you to their contact info
    http://www.411s.ca/views.aspx?LinkID=515213392

    I also saved money when I told them I was a Costco member. It actually saves me a couple of hundred per year
    Last edited by Spixie33; 01-13-2012 at 08:45 PM.

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