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What do people do about their home and contents insurance? I got a quote from Bluefin (through NCMA website) but it seems a lot. To be honest I'm only looking after under 3s so I can't see what serious damage they could do to the house itself. Do you have specialist home insurance or have you told your insurance company you work as a childminder, or do you not bother about it?
I am trying to find the same info. I havent as yet told my insurance company as I didnt realise you had to. A friend of mine is thinking of starting childminding and asked me how much extra it was and I said I had not told my home insurance or mortgage company. I think we do have to inform them we are using our home for business use, but I don't know how it will affect premiums. I hope its not alot!!
I suppose any extra expense can be offset against earnings for the year as a business expense. I am going to look into it as I would hate not to be covered in the event of a claim etc
any advice from experienced CM's would be great
Sara :)
just called my current insurer (ASDA) and you do have to inform them so it is underwritten that you are childminding from home. Price may be different. As its in my hubs name he has to call back later! :mad:
Just did an online quote with morton michel which doesnt penalise for childminding and also give extra options to insure for childminding business equipment too.
I would hate to have to claim and not be able to from simply not informing them I was a childminder :eek:
as with all insurance though, its always seems like a waste of money.....until you need it!!
some other posts mention you can claim 10% of your buildings and contents cover for the year as an expense for your books.
Sara
Most (i have yet to find one who does my own stopped about 3yrs ago) insurance companies will not give childminders accidental damage cover for their possessions, which means that if you don't tell them you are a childminder you damage something make a claim and they find out your claim is invalid, even if it wasn't a minded child who caused the damage. I use bluefin for mine and found they were no higher than my old company and l have piece of mind knowing l am covered, l also use them for my car as they are always the lowest, l shop around each year and have never found a lower or even near quote this year the nearest was £100 dearer than what Bluefin found.
I use Bluefin for my contents this is actually the cheapest I found. My buildings is with Liverpool Victoria as it was too expensive with Bluefin.
Shop around and ask for separate quotes for building and contents.
I must say I have had bad experiences with Bluefin and I wouldn't touch them.
They are just another broker, nothing special and I have always found them very expensive.
My House and Buildings is with Churchill and has been for years and I do have Accidental Damage for me and my family but not for cm. Never been a problem because the minded children are supervised and have in 17yrs never caused any damage that I would claim for anyway. Not that I have made a family claim for more than 25yrs either.
I have never been aware that it costs anymore and when I started minding I just told my current company.
My car insurance had been with Churchill for a number of years but they hiked my Premium this year and so I have gone with Morton Michel because they were the cheapest by far.
Make sure they actually note that you are a childminder - I had told my insurance company and had been insured 5 years with them. But when i tried to make a claim - totally unrelated to childminding - somewhere along the way was asked again my occupation - the underwriters cancelled my accidental damage on me!!
Now I do have accidental damage for my own family etc but not for anything that occurs as a result of childminding.
The cost doesnt vary much just as long as they are made aware of what you do.
I went with Morton Michel in the end, as they are a brokers they sorted my insurance with a company called Ansvar. The premium was the same as Im currently paying, but included accidental damage cover and childminding equipment and had a lower excess.
really quick, professional and efficient. would definitely reccommend.
Sara :)
Hmm, am just about to re-new my house insurance and get registered, so think I will doing some phoning around. Thanks everybody!
Nationwide are a good company for childminders insurance.
I also found this which might help when searching for home insurance. Home Insurance For Childminders - Household Money Saving