Hand written text is way better than just the standard few fonts, but I think it could contrast more and increase its size.
The best way to test covers is to shrink it to about thumbnail-size or even smaller and see if you can tell distinctly tell what is going on.
Personally, I like to have some foreground elements to cover a very small part of the text, just enough to be noticed but not enough to hinder the readability. There's not a big reason to do this, but I like it because it gives just a little more depth to the design. If you wanted to do this, I would overlay both the left ear of the teddy bear head and a balloon.
The composition is well balanced, there's no space that feels too empty, yet no space that feels too crowded, but it isn't the most unique. Unfortunately, I don't have many ideas for a more unique layout :(
TLDR: Increase contrast of text (make it darker), make text larger, consider overlaying elements over a tiny portion of text, and find a more unique layout for the characters if you can.
It's a great cover already, but it could be improved a bit with a few tweaks, I wish you the best of luck!
