Care Covr introduces Childcare Expense Insurance

Georgia-based Care Covr is looking to expand unemployment benefits with the introduction of Childcare Expense Insurance, which will pay for daycare expenses when people lose their jobs.

Led by Tonicia Kelly and Alison Gaby, Care Covr, which plans to launch in the coming fall or winter, claims to be the first to offer this kind of protection and according to its site, it is in the process of obtaining regulatory approval to sell the product.

The startup features two monthly plans – the first starts at $10 per month and offers three months of childcare coverage and the second begins at $15 per month, which increases the coverage period to six months. To file a claim, a policyholder informs Care Covr that they lost their job and after a verification process, the payment is made directly to the daycare provider.