Nursery insurance and why expert advice is essential
15 October 2009
Following some recent high profile incidents in nurseries, NCi looks at why getting expert advice when buying insurance and risk management is essential.
Most people will agree that nothing is more important than the safety and well being of children and following recent news stories that has seen nursery schools in the headlines for the wrong reasons, it is becoming clear that nurseries more so than ever before have to make sure they get protection and peace of mind in the form of nursery insurance.
More than this, nurseries and indeed all businesses, have a duty to try and reduce risks and prevent accidents and losses occurring. Yet many peoples attitude to buying insurance has changed. For the purchase of car or home insurance, most people will now be more than happy to visit an insurance comparison site, fill out a few details and buy the policy with the cheapest premium.
For protecting you car and home this might be ok providing you make sure the policy you buy gives you the cover you actually need and not just a cheap premium. However, for nurseries and businesses in the childcare industry, it is not always clear exactly what cover and protection you need which is why using a nursery insurance broker or company who specializes in providing protection for nurseries is perhaps not only desirable but pretty much essential.
Finding out you are not covered or do not have adequate insurance might be bearable if you spill wine on your carpet at home but if you discover this as a nursery owner after a child in your care has been injured, you potentially risk prosecution and going out of business completely. The good news for nursery owners is that using an expert when buying business insurance can often mean premium savings.
What many nursery owners do not understand is that nursery insurance experts often have specialist schemes with insurance companies which means buying from them can result in additional cover and lower premiums. Yes, you can often actually get more protection for less money by using someone who can give you better advice. This is pretty rare in the business world as in most other walks of life you would expect to pay more for specialist advice.
Another reason why you should perhaps consider using a nursery specialist is that recent news has shown that some business owners do not actually know what cover they actually need. If you find a nursery expert, they should be able to give you advice and talk you through the various cover options available and you can be safe in the knowledge that this is not to try and get you to pay more money but is simply to make sure you get the exact cover and protection you need. As a nursery owner you will know how important it is to make sure our children are safe when in your care. Use a nursery insurance specialist and make sure if an accident does happen, you and your nursery will be covered.
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