Top Benefits of Accident Insurance for Daycare Centers

Did you know that injury is the leading cause of death for children and teens in the United States? Each day approximately 20 children die due to unintentional injury.

No child is immune to injury. Even with the best precautions and close supervision, children remain susceptible to injuries.

If you own a daycare center, you understand better. Children have little control over the world they live in. That's why accident insurance for daycare centers is critical.

Most mishaps result in minor injuries. A little dab or lots of hugs and kisses can resolve such incidents. The reality is each of the tumbles has the potential to be an emergency injury.

Accident insurance for daycare centers covers the expenses of treating and caring for an injured child or volunteer or participant. Here are the benefits you stand to enjoy with an accident insurance plan for your daycare.

1. Health Care and Accidental Death Coverage

The United States has the most expensive healthcare system in the world. In most daycare release forms, you are required to offer emergency medical treatment.

The emergency medical care clause in a daycare agreement is valid. Tending to medical emergencies will plummet your operational costs.

Accident insurance helps you cover medical and out-of-pocket costs. The coverage can include:

  • Emergency treatment
  • Laboratory tests
  • Hospital stays
  • Medical exams and
  • Surgery

The insurance covers qualifying injuries. Depending on how you customize your insurance policy, you can include as many injury risks as possible.

In case of injuries, you want certainty that your children are treated immediately with the best care.

 

2. Protection From Costly Claims

If a child is injured at a daycare center, the parent has the right to sue the daycare center to recoup their out of pocket medical expenses.

When a child is injured, parents can file claims based on violation of the duty of care.

A personal injury claim can put you out of business. The legal and attorney fees can be thousands of dollars. A single legal claim can result in bankruptcy. Not to mention, filing the claim on your general liability policy will usually lead to an increase in your cost for that premium when it comes back up for renewal.

Even with the best care systems, you are not invincible to an injury claim. Regardless of fault, you will spend heavily to create a strong defense system.

 

3. Insurance for Day Centers Builds Brand Reputation

Every parent or guardian wants their child safe. It gives a parent peace of mind to know your facility has daycare accident insurance. It's a gesture that you care about their children.

Parents prefer businesses that share their values. As a business owner, you need to build trust and brand appeal. The metrics offer an incentive to win more clients.

Although you run a daycare center out of passion, you need to be profitable to ensure business continuity. You need a broad customer base to meet operational costs and offer profits.

An insurance policy brands your business as safe and caring.

Child care centers provide essential services to the parents. Connecting with parents' interests is a drive to influence their decision to choose you.

4. Insurance Plans Reduce Operational Costs

Those adorable kids can cost you significant financial damage. Without Pomi A&H coverage, you could be on the hook for thousands in out of pocket medical costs plus legal fees. 

With an accident insurance policy, the out of pocket medical expenses associated with injury are covered. Health care costs, including doctor visits, labs, casts, and therapies are covered.

The uncertainty of paying for losses incurred out of pocket can drain your cash flow.

It makes better financial sense to pay a reasonable premium to cover all children and volunteers than thousands of dollars to cover the cost of a single incident.

5. Risk Management

Injuries to children under your care expose you to a wide range of risks. Legal, financial, and business risks are liabilities you don't want for your facility. Such risks can close the doors for your business.

Reliable insurance agents offer training to reduce and manage risks. Training allows you to identify loopholes that expose children to the risk of injury. With preparation, your business runs from the point of strength.

Operating from the point of strength reduces the risks of injuries and associated liabilities.

 

Sign up for an Insurance Policy for Your Daycare Center

Accident insurance for daycare centers is a rare product for many insurance agencies. Daycare owners may struggle to find an agency that offers policies customizable to their needs.

Every day presents new risks of injury. You don't want any harm to children under your care. However, you need to be ready for when it happens. You don’t want to spend all your savings on medical expenses or litigation processes.

You need an insurance plan to take care of your business. 

If you are looking for reliable daycare accident insurance, we can customize one for you. Contact us for more information.

 

These posts are for informational purposes only and should not be considered as specific financial, legal or tax advice. Depending on your individual circumstances, the strategies discussed in this post may not be appropriate for your situation. Always consult your legal or tax professionals for specific information regarding your individual situation. In providing such information, Great American does not warrant that all potential hazards or conditions have been evaluated or can be controlled. The liability of Great American Insurance Company is limited to the terms, limits and conditions of the insurance policies underwritten.  Policies are underwritten by Great American Insurance Company, an authorized insurer in all 50 states and the DC.  © 2021 Great American Insurance Company, 301 E. Fourth St., Cincinnati, OH 45202.  All rights reserved.  Please see Great American Insurance Company’s Legal Disclosures/Terms and Conditions.

 

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