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1)    You’ve altered your company structure

Changed from a ‘Trading as’ to a ‘Limited’ company? Or have you been acquired and added to a group company? Let your insurer know. This goes for any changes to how your business is set up, such as new directors coming on board or if someone else needs putting on the policy.

2)    There’s been a change in building ownership 

Has your landlord changed? Have you bought a property you’ve previously been leasing or have you sold your premises but continue to be a tenant? Either way, inform your insurer because if the premises become damaged and the nursery closes for repair, it must be clear who’ll cover the costs and loss of revenue.

3)    You’ve upgraded some equipment 

Invested in new outdoor equipment? Bought new computers? Then these need to be added to your policy. Leased items like photocopiers can be insured too. This can ensure you do not pay double as many lease companies will automatically insure equipment until they have confirmation from the insurers that they are protected.

4)    You’re extending

Planning an extension? This can be a real minefield with issues such as health and safety regulations, including construction design management rules and regulations. It is vital you seek expert advice before you start work to ensure you are correctly insured and that you are compliant at all times. 

5)    There’s been an incident

If something has happened that could lead to a claim by either a child’s parents or an employee, make sure you let your insurer know, just as you’d inform Ofsted or RIDDOR. Please also tell your insurer, so that they can help you to gather evidence to help defend any claims, while the incident is fresh in everyone’s minds. Your insurance advisor can help you manage safeguarding allegations against members of your staff to ensure the business is protected which can even involve dealing with the unwanted press. 

6)    Your numbers have changed

Always tell your insurer if the number of children in your care increases or decreases. Whether you’ve started running a holiday club or you’ve decided to reduce the places you offer, it may affect your policy and cover.

7)    You’ve upgraded your security

If you’ve invested in a new alarm, added window bars, installed shutters or upgraded your security in any way, pass on the news to your insurer. This is particularly important if it is as a consequence of an incident as it demonstrates the quality of your management in reducing the risks of reoccurrence of a similar incident. 

And last but not least…

8)    You’ve sold the business 

It might seem obvious, but we’ve known of nurseries being sold and the seller forgetting to tell their insurer. So if you’re no longer the owner, let your insurance advisor know.

Ensuring that your insurer is kept up-to-date with any changes in your business is not just a good practice; it’s essential for maintaining adequate coverage. From alterations in your company structure to changes in building ownership, every detail matters. By proactively informing your insurance advisor of significant changes, you safeguard your business against potential risks and liabilities.

Remember, your insurer is there to help you navigate these complexities and ensure your business remains protected. Don’t let small oversights lead to big problems. Keep the lines of communication open with your insurer, and you can operate with the confidence that you are fully covered, no matter what changes come your way.

Further reading 

To make it easier for you to understand the cover your nursery needs, dot2dot have produced a number of useful factsheets. Access the factsheets on a wide range of topics, including Safeguarding Children, Tips on How to Spot Invoice Fraud from Financial Fraud Action UK, and the Checklist for Managing GDPR Personal Data Breach & Notification, and more.