Cameron Diaz and Benji Madden 'Love Being Parents,' Says Source: Inside Their Life with Raddix

Cameron Diaz and Benji Madden are loving every minute with their 3-month-old daughter Raddix.

As a family source tells PEOPLE of the spouses, "They love being parents. This is their full-time job and they just want to be with their daughter."

During the coronavirus pandemic, Good Charlotte musician Madden, 41, and actress Diaz, 47 (who married in 2015), have been sticking close to home for both privacy and safety reasons.

"As new parents, they always felt very protective about Raddix. In the beginning, it was more like they wanted to protect her privacy and [didn't want] her to be photographed. Now, their No. 1 concern is for everyone to stay healthy," says the source.

Never miss a story — sign up for PEOPLE's free daily newsletter to stay up-to-date on the best of what PEOPLE has to offer, from juicy celebrity news to compelling human interest stories.

"They stay at home as much as possible and only go out for necessary errands," the insider adds. "They very much enjoy their new life with Rad."

The Charlie's Angels actress couldn't help but rave about her little girl on a recent Instagram Live session with her friend and Who What Wear CEO Katherine Power.

"I love being a mother. It's the best, best, best part of my life," Diaz said. "I'm so, so grateful and so happy and it's the best thing ever and I'm so lucky to get to do it with Benji and we're just having the best time."

RELATED VIDEO: Cameron Diaz Says She Loves Being a Mom, Calls Benji Madden an 'Amazing Father'

The couple shared the happy news of their daughter's arrival on social media in early January, writing, "We are so happy, blessed and grateful to begin this new decade by announcing the birth of our daughter, Raddix Madden. She has instantly captured our hearts and completed our family."

The new parents also went on to say that while they "are overjoyed to share this news" they "also feel a strong instinct to protect our little one's privacy" — and as such would not "be posting pictures or sharing any more details, other than the fact that she is really really cute! Some would even say RAD."

"From our family to all of yours, we're sending our love and best wishes for a Happy New Year and Happy New Decade," they wrote, signing off the post, "Sincerely, Cameron&Benj" with a red heart emoji.

For more on Cameron Diaz and Benji Madden, pick up this week's issue of PEOPLE, on newsstands Friday.