What type of Insurance do I need for a Home Day Care?

Cassidy Pangrazio: You would need to purchase a Commercial General Liability Policy or Commercial Package Policy which should include Sexual Molestation Coverage. I just sold one of these policies for a Daycare that will be taking care of 12 to 16 children for $963 per year (on an installment plan). The policy covers $1,000,000 occurrence, $2,000,000 aggregate liability, $100,000 for Sexual Molestation, Business Personal Property Coverage of $15,000, etc. The policy was written for a brand new business and the owner had several years experience. I do write in several states and the range for a stand alone policy depending on the number of children, staff experience & ratio to children, etc. is between $900 to $2,000 for smaller operations. If you hire employees you will also need to purchase Workers Compensation Insurance. The cost of the Workers Compensation will depend on the amount of payroll. You should contact a local independent insurance agent who specializes in ! commercial insurance. You can visit this website to find someone in your area http://www.iiaba.net/agentlocator/findagent.aspx.I hope this helps. Good Luck!...Show more