There are two types of insuring forms. An “Occurrence Form” is best because it covers claims reported after the policy expires, after you have gone out of business or changed insurance companies.
Beware of “Claims-Made” forms. Claims can be made against a provider a number of years after the injury, after the child has left the provider’s care, or after a provider goes out of business. In some states a minor can file a lawsuit up to age 21. A “Claims-Made” policy only covers claims reported during a specified time, usually during the policy term or within one or two years after the policy expires.
If you have insurance and a child is hurt while in your care, it is important to report it to your insurance company as soon as possible, even if you don’t think it is going to be a claim.