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Daycare Insurance

We provide customized insurance solutions for daycares

Daycare insurance in Ontario, and across Canada, serves to safeguard any business providing childcare services from the financial impacts of unexpected events. This coverage applies to both full-time and part-time enrollments, as well as before-and-after school programs. Daycare insurance is essential for protecting the financial well-being of daycare providers and ensuring their ability to continue operating in the face of unforeseen incidents or accidents.

What is daycare insurance?

Daycare insurance, also referred to as child care insurance, is a specialized insurance designed to provide coverage and protection for businesses or individuals operating daycare facilities or offering child care services. This insurance is crucial for daycare providers as it helps mitigate the risks and liabilities associated with caring for children.

Childcare providers require various types of insurance coverage, and with MySchool, the insurance is customized to the unique needs of your business. The specific coverage and policy details can vary, so it’s crucial for daycare providers to collaborate with an insurance agent or broker specializing in childcare insurance to tailor a policy to their specific needs and circumstances.

Providing Affordable Insurance for Licensed Daycares

Caring for children comes with a unique set of risks. The MySchool program offers customized insurance for childcare providers that reflects your daycare’s individual needs. In addition to competitive coverage and pricing, we have a dedicated team with extensive experience to give you expert advice, risk analysis and claims support. Interested in getting a quote for your daycare?

We proudly support various daycare industry associations and offer customized MySchool benefits to their members.

What kind of insurance do I need to start a daycare?

The MySchool Insurance Program package offers the common types of insurance needed to start a daycare:

  • Commercial General Liability – helps cover legal expenses if someone is hurt or has their property damaged as a result of negligence on the part of you or your staff. A common example is someone slipping on an icy sidewalk on your daycare’s property.
  • Abuse Liability – Allegations of abuse can happen and may include complaints of molestation, harassment, corporal punishment or other forms of mental abuse, which is why we ensure our clients have abuse coverage on an occurrence basis.
  • Commercial Property – helps cover the costs of repairs or replacement of your daycare’s property if it’s damaged by an insured peril like fire or wind.
  • Commercial Auto – helps cover legal and medical expenses if you’re involved in an accident. There are optional coverages like collision, comprehensive and loss of use as well.
  • Professional Liability Insurance – Your staff with professional designations are held to an ethical and professional standard that needs specialized coverage known as Educator’s errors and omissions insurance. Depending on the statement of claim, the policy will respond to claims of actual or alleged wrongful acts, errors, omissions or breaches of duty as a professional. More importantly, for insured claims, coverage includes claims expenses such as fees for lawyers and experts, along with investigation and arbitration expenses.
  • Directors and Officers Insurance – helps to protect the personal finances of directors and officers should they face legal action for alleged wrongful acts while performing their duties.
  • Employment Practices Liability – as a component of Directors and Officers Insurance, this coverage will respond to allegations of wrongful termination, harassment in employment and discrimination.
  • Employee Benefits Liability – helps respond to claims related to the administration of their benefits program such as failing to add or remove an employee to or from their plan.
  • Cyber Liability – helps cover expenses related to a privacy breach or cyber attack. This can include legal costs, regulatory fines, public relations expenses and more.

We also offer customized coverage  such as expense reimbursement, child trauma and abduction expenses, umbrella liability, special events coverage and more.

Our MySchool insurance experts can help you determine which coverages you need.

Why does my daycare business need directors and officers (D&O) liability insurance?

Directors and officers liability insurance helps protect the directors and officers of a licensed daycare if they are accused of wrongful acts in their role. Wrongful acts may include financial mismanagement, misrepresentation and failure to comply with provincial or federal regulations. This coverage helps with legal expenses, including defence costs, judgement awards and settlements, protecting the personal finances of directors and officers.

Importance of Cyber Insurance for Daycares in Canada

Unfortunately, businesses of any type and size can be victims of a privacy breach or cyber attack. Dealing with such an event can be overwhelming. Luckily, cyber insurance can help reduce the financial burden and help your daycare operation recover.

Common Risks for Daycares

Caring for children comes with a unique set of risks in addition to normal risks faced by all types of businesses. For daycares, this can include:

  • A child getting injured while in your care.
  • A child becoming sick while in your care, or spreading illness to other children.
  • A staff member gets injured while working.
  • Physical damage to your daycare’s facilities due to storms, flooding, fire or other perils.
  • Allegations of abuse from your parents or other staff members.

How much does daycare insurance cost?

The cost of insurance for daycares will depend on the individual business. Factors that affect premiums include:

  • Enrollment capacity
  • Actual Enrollment (full-time and part-time)
  • Staffing (full-time and part-time)
  • Replacement value of owned property
  • Total revenue
  • Number of insured locations
  • Location of the centre(s) and building construction details
  • Coverage options selected
  • Claims history

Do you need a license to run a daycare in Ontario?

Yes, in Ontario, you typically need a license to run a daycare. Licensing requirements for daycares in Ontario are regulated by the Ministry of Education, and they are in place to ensure the safety and well-being of children in childcare settings. The specific type of license required may vary depending on the type of childcare you offer, such as home-based childcare or center-based childcare. It’s essential to contact the Ministry of Education or local authorities for detailed information on licensing and regulatory requirements, as they can change over time. Operating an unlicensed daycare in Ontario may result in legal consequences and is generally not recommended.

Compare Custom Daycare Insurance Quotes

We work with multiple insurers to get you competitive pricing and coverage. You can get a quote for your licensed daycare by contacting us today.

Work with our MySchool Team

Our MySchool team is comprised of dedicated insurance brokers with the experience and expertise your daycare needs. We offer exceptional customer service, risk analysis and claims support. We work with trusted daycare associations to ensure their members are prepared and protected for the unexpected. Learn more about MySchool.

Ready to get your free quote?

Simply complete our online form to receive a free, no obligation quote and advice from an expert broker.