Oregon Preschool Insurance Policy Information
Oregon Preschool Insurance. Preschool is so important for children and their families. It introduces young children to the foundations of education by teaching them basic skills. It also instills important social skills and supports emotional development, too.
Preschools teach very young children, generally three to five years old, to prepare for kindergarten. Students engage in group activities, such as crafts, dancing, and singing, while learning to interact socially with others.
Pre-schools may be run independently or in conjunction with a kindergarten. Classes are generally limited to a half day. Before-class and after-class day care services may be provided to working parents.
Pick up or drop off service may be offered or the pre-school may transport students for field trips or other special events.
Children will carry and build on the knowledge and skills that they acquire in preschool throughout the rest of their lives. As the owner and operator of a preschool, you focus on keeping the students who are entrusted in your care, as well as your staff, as safe and happy as possible.
However, despite your best efforts, mistakes do happen. In the unfortunate event that one of your students is injured on your school grounds or if one of the teachers you employ sustain an injury while they are participating in a school event, you'll be responsible for the related costs.
How can you protect yourself from unexpected exorbitant expenses? - By investing in the right type of insurance coverage.
But what kind of Oregon preschool insurance do you need? Read on to find out how you can protect your OR pre-school, your students, your staff, and yourself from unexpected events and the costs that may be associated with them.
Oregon preschool insurance protects your child care and education business from lawsuits with rates as low as $57/mo. Get a fast quote and your certificate of insurance now.
Why Do OR Preschools Need Insurance?
Young children are curious and sometimes precarious. They love to explore, test the limits, and interact with the world around them. However, young children are still developing their motor skills, learning special recognition, and are discovering appropriate social skills. In other words, you never know when a preschooler could slip and fall or accidentally injury someone else.
Your students aren't you're only concern; you also need to make sure that you are providing your teachers and staff with a safe work environment. Then there's the property that your preschool operates out of; a classroom or an entire building could be damaged in a storm, a fire, or even by an act of theft or vandalism.
As the owner and operator of your preschool, you are liable for anything that goes wrong. As you can imagine, if something does go wrong, you could be looking at some serious financial losses. Legal expense fees, compensation, repairs, etc.; all of these things have exorbitant costs.
If you're properly insured, however, instead of having to pay unexpected expenses yourself, your insurance company will cover them for you. In short: Oregon preschool insurance can protect you from financial devastation. Plus, in order to operate legally, preschools must be properly insured.
What Type Of Insurance Do Oregon Preschools Need?
There are several different types of policies that preschools should carry. Some of those policies are compulsory, while others are voluntary, so to find out exactly what type of coverage you should invest in, speaking with an experienced commercial insurance agent is highly recommended.
With that said, however, here is a look at some of the Oregon preschool insurance policies that are needed:
- Commercial Property - This type of insurance covers the cost of damages or losses to the property your school functions out of, as well as the items within that property, from acts of nature, theft, and vandalism. For example, if someone were to vandalize your school, your insurance company would cover the cost of any repairs that might need to be made.
- Commercial General Liability - To protect your preschool from third-party liability claims, you'll need to invest in commercial general liability insurance. This Oregon preschool insurance policy covers the costs that are associated with third-party personal injury, physical injury, and property damage claims, including legal defense fees and any compensation that a court might find you liable for.
- Workers Compensation - To protect your teachers, faculty, and staff, you'll need to have workers comp insurance. Should someone on your faculty or staff sustain an injury while they're performing a work-related service - in the classroom or on a field trip, for example - workers' comp will cover the cost of any medical care that they might require and will reimburse them for wages that they may lose in the event that they are unable to work while recovering.
These are just a few examples of the Oregon preschool insurance insurance coverage that should be in place. To find out exactly what type of coverage you should invest in, get in touch with an agent that specializes in commercial insurance.
OR Preschool's Risks & Exposures
Premises liability exposure is extremely high due to the age and vulnerability of children. The adult/child ratio should be low enough to permit adequate supervision. Classrooms should be arranged so instructors can see children at all times. Furnishings, toys, and playground equipment must be well maintained to prevent injury to children. Electrical outlets should be covered. Flooring should have nonskid surfaces.
Adequate lighting and marked exits are mandatory. Parking areas should be maintained free of ice and snow. Because children learn by touching and sharing, communicable diseases can be spread quickly to others. Children and staff should be encouraged to wash hands regularly. Furnishings and toys should be regularly sanitized.
Immunizations should be required for each child, along with an emergency medical contact. There should be written policies regarding when a child is too ill to attend school, and when the facility will contact parents or medical emergency providers in the event of illness or an accident.
Security issues are becoming more critical in educational settings. All adults' references must be verified, including a criminal background check. Procedures for all emergencies should be posted, with instructors and aides trained to use them. Evacuations drills should be practiced on a regular basis.
Access to the building must be limited during the hours of operation to prevent unauthorized entry, kidnapping, or children escaping. Pickup or release of any child must be limited to authorized individuals only.
Personal injury exposures include allegations of discrimination, failure to prevent intimidation, humiliation, or bullying by instructors or other students, and invasion of privacy.
Abuse and molestation exposure is very high due to the care and supervision of children. No coverage is available for the abuser. While there is some coverage available in the standard market for the pre-school where the abuse takes place, it is very restricted.
More complete coverage should be purchased through specialized markets. The pre-school must take all care possible to protect students from predatory adults and older students through background checks, monitoring, and supervision, and reporting all allegations of abuse to the proper authorities.
Workers compensation exposure is moderate. Teachers can incur back injuries, hernias, sprains and strains from lifting, foreign objects in the eye, and trips or falls over misplaced toys or supplies. If food is prepared on premises, kitchen workers can incur cuts, scalds, and burns.
Custodians can develop respiratory ailments or contact dermatitis from working with chemicals. Exposure to communicable disease can be high as children learn by touching.
All employees should have up-to-date immunizations to prevent the spread of communicable disease. Unauthorized visitors can pose a threat to employees as well as students.
Property exposure is light. Ignition sources may include electrical wiring, heating and air conditioning systems, and cooking equipment. All wiring should be well maintained and up to code. Circuit breakers and fuse boxes should not be able to be overridden.
Business personal property includes flammable paper, craft supplies, toys, wood and/or plastic furnishings. Food preparation is generally limited to stove top or microwave cooking. Extinguishers should be readily available. Business income may be needed after a loss if backup facilities are not readily available.
Crime exposure is from employee dishonesty and theft of money and securities. Background checks should be performed on all employees handling money. All job duties, such as ordering, billing, and disbursement, should be separate and reconciled on a regular basis.
If cash is received from parents, receipts should be provided. Bank deposits should be made on a timely basis to prevent the buildup of cash on premises. Audits should be conducted at least annually.
Inland marine exposure is from accounts receivables for payments from parents, computers, and valuable papers and records for students' information. Duplicates should be made of all data and stored off premises. There may be audio-visual equipment that is taken between classrooms.
Business auto exposure is very high if the pre-school offers pick up or drop off service or transports students for field trips or other special events. All drivers must have the appropriate license for transport of children and acceptable MVRs that must be checked on a regular basis.
Approved child seats and seat belts must be used by all students. There must be adequate supervision on the vehicles during transport. All vehicles must be well maintained and the records kept at a central location.
Oregon Preschool Insurance - The Bottom Line
To discover more about the exact types of Oregon preschool insurance policies you'll need, how much coverage you should carry and the costs - consult with a reputable broker that is experienced in commercial insurance.
Oregon Business Economic Outlook & Commercial Insurance Regulations
If you are thinking about doing business in the Pacific Northwest, you might have your sights set on Oregon. However, before you set up shop, it's important for you to have an understanding of the economy - so that you can make the best decisions possible. It's also important for you to know what type of business insurance policies you are legally required to carry in order to do business in OR.
In order to help set you up for success, below, we highlight some of key information regarding the economy in Oregon, as well as the regulations regarding commercial insurance.
The Economic Outlook In Oregon
In 2018, Oregon is projected to see an increase in their economy. The unemployment rate was 4.1 percent at the end of 2017, and it is expected that it will either stay the same or drop even lower by the end of 2021.
There are several industries that are expected to contribute to the job market and the economy overall in the state of Oregon. The industry that is expected to see the most gain in this state during the 2018 calendar year is construction, with an increase of 10.5 percent. The manufacturing industry is also expected to see significant growth, with a forecasted increase of 4.3 percent. Other industries that are expected to see growth in OR in 2021 include:
- Financial Services
Insurance Requirements For Oregon Businesses
The Division of Financial Regulation oversees the insurance industry in Oregon. Here workers compensation insurance is mandated. If you employ one or more person, whether that person is full-time or part-time, or is hourly or salaried, you are legally required to carry this type of coverage. Additionally, you must carry commercial auto insurance if you operate vehicle for any business-related purposes, whether it's meeting with clients, making deliveries, or transporting goods.
While commercial general liability insurance is not required in OR, it is highly recommended. This type of coverage will protect you from any lawsuits and the accompanying settlements that may arise in the event that some slips and falls, or claims that you damaged their property. You should also consider investing in commercial property insurance, as it can help to offset the cost of any property losses that you might experience.
Additional Resources For Additional Resources For Children & Pet / Dog Care Insurance
Discover what small business commercial insurance policies cover for children and pet related businesses.
Whenever children are involved, an extra level of care needs to be taken when selecting an business insurance policy.
Younger children require more supervision than older children. Each state establishes minimum standards and ratios for children-to-adults based on the children's ages.
Day care facilities must comply with these minimum standards and some exceed them by having additional staff to provide more personal attention and activities.
Pet related businesses have a large liability risk when working with multiple dogs. If one of the dogs bites someone, they can do a of of damage and claims are often in the thousands. Certain breeds of dogs can do major damage if they bite.
Another consideration in the pets themselves - what if they are injured while being groomed or walked? What if one dog attacks another while you are walking them?
If you do not have the right coverage you could have to pay a claim and expensive legal fees out-of-pocket.
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