Nanny Insurance
Nanny Insurance Explained
Being a nanny is not an easy job. You have a great responsibility in your hand. Hence, you should get nanny insurance that can protect you against the great risks that you will be facing. In the event that accidents can happen, public liability insurance can cover the compensation costs. For instance, the child under your care might accidentally suffer from an injury. Aside from this policy, there are also other covers that can be helpful to nannies. If you employ staff, then you would likely require an employers’ liability insurance. Business interruption cover and business equipment cover are just some of the essential covers that you might be needing.
Keep in mind that a nanny public liability insurance is required by Ofsted. Likewise, if you are a nanny employer, then you can obtain financial assistance if your nanny is Ofsted registered.
Where can I get Nanny Insurance?
We recommend using Simply Business they are rated 4.7/5 on Feefo and have over 800,000 insurance policies in the UK. They compare many different providers so you can find the insurance cover that is right for you.
Does your nanny have public liability insurance?
Would you hire a nanny even if she has no public liability insurance? It would be a good idea if your nanny has a sufficient cover. A nanny insurance policy can provide protection every time unfortunate things can happen while the nanny is doing her job. This means that it can cover anything should something bad will happen to the children while they are under the care of the nanny. Legally, the nannies are held responsible for the children who are under their care.
As a registered nanny, you will be held liable in case the child gets injured or even died. You can also be held responsible for an injury to a third party or if you have caused damage to property in your client’s house. You will be required to pay for these damages and injuries. However, if you have public liability insurance, then it can cover these damages. At the same time, it can also pay for the legal costs up to your policy limit. The policy limit is the maximum amount that can be paid for a single incident. Typically, the policy limit is £5,000,000.
If your nanny is an Ofsted registered, then she is required to get public liability insurance.
Finding the Best Nanny Insurance
What nanny insurance do you need?
Public liability insurance is one of the most important covers that every nanny should have. It can cover claims for injuries and damages which are blamed on the nanny. For instance, what if you broke an expensive vase on your client’s house or what if the child under your care slipped on a wet floor. This could mean that you will be facing a huge compensation claim. If you have public liability insurance, then it can cover the legal expenses as well as the compensation costs. The cover will depend on your policy limit.
Employers liability insurance is mandatory for companies who have employees. If you are an employer who hires nannies, then you will be required to pay a fine if you don’t have this policy in place. This can cover you in the event that a nanny will file a claim because she was injured or ill while doing her work. For instance, the nanny suffered from back pain after carrying a child because she was not properly trained.
What other covers are useful for nannies?
There are other business insurance covers that nannies could purchase such as business equipment insurance, personal accident insurance, and business buildings insurance. The coverage that you need will all depend on the risks that you will be facing. Obviously, you can customize your policy so that it can suit your needs.
How much does your nanny insurance cost?
There are several factors that can affect the cost of your nanny insurance. For instance, it will depend on the type of insurance that you choose, the level of coverage that you choose, as well as the nature of your work.
Who will pay for the policy?
Oftentimes, the nanny’s employer will offer to pay for the nanny insurance policy. So, what will happen, if the nanny’s employer is the one who buys the policy? It is essential that employers must understand that no matter who pays for the policy, it is still the nanny’s insurance. In case the nanny decides to leave her employer, the policy will go with her. This is because it cannot be transferred to another nanny. Also, the nanny is the only one who is allowed to cancel the policy.
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