Child Care Property Insurance

Child Care Property Insurance

Why should Property Insurance be in my Child Care Insurance package?

 Property Insurance is the second coverage needed in any package. This can cover two area's; buildings and contents. With the money you are spending to open and operate a daycare make sure you have adequate property insurance to cover both the building and the contents. You only need to insurance the building if you own it, but your contents should always be covered under your Child Care insurance program.

 If you live in area's subject to flooding or earthquakes, make sure you ask your agent for quotes to cover this. The typical Child Care insurance policy excludes these coverage's unless they are asked for.

 Additional Important Property Coverage's:

Crime – Covers you if an employee steals money, securities, and/or other property.

Business Income & Extra Expense: Another important insurance coverage add-on to your property coverage. Business income reimburses your company for revenues lost during a downtime caused by covered damage to or a covered loss of your property. Extra expense reimburses you for expenses incurred to avoid and/or minimize the suspension of business. Example: Your building roof collapses after a heavy thunderstorm. The business income insurance coverage pays for the income you lost while you could not occupy the building, and the extra expense insurance coverage covers rent for a temporary location while your building is being repaired.

Equipment Breakdown: This important coverage pays for financial loss incurred when equipment breaks down suddenly and accidentally. All Equipment is subject to certain hazards such as power surges, short circuits, boiler overheating or cracking, and mechanical breakdown. Equipment breakdown insurance covers equipment accidents from these kinds of risks. The coverage pays for the cost to repair or replace equipment damaged by a covered accident. It can also protect you for business income losses that come from a equipment breakdown and the additional costs incurred when you speed the restoration of business operations. Perishable goods coverage, also known as Spoilage, is also available to protect the value of any food and/or other materials that spoil as a consequence of a breakdown. While Property insurance covers many standard perils, such as fire an "all risk" property coverage doesn't pay for equipment accidents from these kids of losses. Equipment breakdown insurance coverage is specially designed to pay for damage caused by these risks. Since standard property policies don't cover equipment breakdown, you need to make sure it is included.

See Other Coverage's

 

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