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Insurance for Childcare Centres - What do I need to know?

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Childcare Centres are the cornerstone of their community, providing a safe space for children to grow and learn. Part of that growth is through children pushing their own boundaries and their teachers helping them to take measured risks. So how can a Childcare Centre be covered for these risks? How can a Childcare Centre ensure that it can continue to service its community after an unforeseen event?

What risks do I need to cover for my Childcare Centre?

Childcare centres are about people. Children, their families, and the educators that work with them. People represent a big part of the risk profile of a Childcare Centre.

Risk to educators and other staff - Lifting small children, chopping carrots for lunch, flying projectiles, these are the realities of working in a Childcare Centre. If there is an unexpected event a carer may find themselves injured.

Risk to children - The little ones in your care return day after day, often for long hours. The nature of rough and tumble play, overlooking concerns such as electrical safety or premise security and even a kitchen that doesn’t prioritise food safety are all sources of risk.

Childcare Centres also have a responsibility to family members and suppliers visiting the premises.

Apart from risks to people there are also risks to the property and its contents through damage or theft.

Covid-19 has also raised the possibility of having to close down your centre for a period of time due to an unexpected event such as a lock-down or outbreak. Even finding asbestos on the property, or flooding, or other building damage may be cause for closing your doors temporarily.

What insurance does a Childcare Centre need?

To cover these, and other risks to Childcare Centres, there are many types of insurance to consider. An insurance broker with experience in insurance for Childcare Centres can help. Types of insurance for a Childcare Centre that you should ask your insurance broker about include:

Public Liability Insurance – required when working with members of the public (including children, parents and suppliers).
Property insurance - with consideration for whether you rent or own your Childcare Centre
Contents Insurance - to cover your valuable assets (including toys, furniture, fridges and technology) in the case of fire, storm, vandalism, theft, breakdown or accidental damage
Business Interruption Insurance - for when you need to close your doors temporarily due to an insured risk
Workers Compensation Insurance - for your employed educators and other staff
Personal Accident Insurance - in the event of personal accident or illness
Professional Indemnity Insurance - for errors, omissions or negligent acts such as an injury that is proven as due to inadequate supervision.

Management Liability Insurance

Management Liability insurance is designed to provide protection to both the business and its directors or officers for claims of wrongful acts in the management of the business.

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Business Insurance

A business insurance pack can provide cover for your business premises and contents, against loss, damage, theft or financial loss from an insured interruption to the business.

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Business Package

Purchase up to six products under one Business Insurance Package.

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Public Liability Insurance – required when working with members of the public (including children, parents and suppliers).
Property insurance - with consideration for whether you rent or own your Childcare Centre
Contents Insurance - to cover your valuable assets (including toys, furniture, fridges and technology) in the case of fire, storm, vandalism, theft, breakdown or accidental damage
Business Interruption Insurance - for when you need to close your doors temporarily due to an insured risk
Workers Compensation Insurance - for your employed educators and other staff
Personal Accident Insurance - in the event of personal accident or illness
Professional Indemnity Insurance - for errors, omissions or negligent acts such as an injury that is proven as due to inadequate supervision.

If you are running a Childcare Centre Urban Insurance can help to ensure that your Childcare Insurance is in place to ensure you can keep servicing the families in your community.

General Advice Warning: This advice is general and does not take into account your objectives, financial situation or needs. You should consider whether the advice is appropriate for you and your personal circumstances. Before you make any decision about whether to acquire a certain product, you should obtain and read the relevant product disclosure statement.

All information above has been provided by the author.

Channelle Ricketts, Urban Insurance, AFSL 233750