In our last issue, we discussed the insurance needs of day care providers. If you are found guilty of the injury or death of a child or parent, it could cost a lot. You could have to pay medical bills, damages awarded to the victim or the victims family, and court costs.
Liability insurance pays defense costs and damage awards.
Medical or accident insurance pays for doctor and hospital bills. It is usually part of your liability coverage. If it isn't, you need separate coverage. Last months article discussed three ways to prepare for this risk. You could set money aside in case you are found responsible for an injury or death.