Non Profit Insurance provided by [pods name="amplispot_custom_setting_page" id="43" field="name_of_the_company"] .

Given the shoestring budget on which many nonprofits operate, a single large and unexpected expense could lead to financial ruin. So, getting the right insurance to guard against the biggest (or baddest) risks is a wise move for nonprofits (and other businesses).
Insurance for Nonprofit Organizations

Nonprofit organizations and their leaders juggle enormous and varied responsibilities each day – from managing tight budgets to engaging volunteers and donors to fulfilling the organization’s mission.  Since so many nonprofits are singularly focused on a particular cause, organizations often neglect to identify and protect against risks that could leave the organization and its board members and officers exposed. 
 
Just as any business or organization have risks associated with employees, board members, data or fraud nonprofit organizations of all sizes are not immune.  Claims and threats of litigation can be from vendors, donors, competitors, employees and even government regulators.  In fact nonprofit organizations file twice as many D&O claims than public and private companies*, 85% of claims filed are employment related* and every nonprofit organization is at risk of a data breach as they keep and maintain donor financial files, employee records, client data, and even volunteer data.

Who Needs Nonprofit Insurance?

Nonprofit organizations are mostly like any other organizations, with one major difference: They don’t turn a profit. This type of organization has been granted tax-exempt status by the IRS, which requires them to have a unique form of coverage. The following are common examples of nonprofit organizations that require special coverage:

  • Federal credit unions
  • Charitable organizations
  • Scientific organizations
  • Amateur sports associations
  • Public safety testing organizations
  • Religious organizations (e.g., churches)
  • Social welfare groups
  • Politically motivated groups
  • Rotary clubs
  • Volunteer fire stations
  • Labor unions
  • Agricultural unions
  • Social and recreational clubs (e.g., country clubs)

This is not an inclusive list of non-profit organizations.

Click and learn about the risks

What type of Insurance coverage do Non-Profits need?

The type of insurance required by a nonprofit will depend on the individual organization. A nonprofit organization may need the following coverage:

  • Commercial property insurance
  • Commercial general liability insurance
  • Professional liability insurance
  • Product liability insurance
  • Director & officer’s liability insurance
  • Event liability insurance
  • Business interruption insurance
  • Crime insurance
  • Cyber insurance
  • Commercial vehicle insurance
  • Group benefits coverage (including medical, dental, vision, life, disability and critical illness insurance)

Our team can help you understand the unique risks and needs of your nonprofit organizations and help find the right combination of coverage your non-profit may need.

What affects the cost of Non-Profit Insurance?

The following factors can affect the cost of nonprofit insurance:

  • Size of the organization
  • What your nonprofit does
  • Where you operate
  • Premises location (determines claim rate, crime rate, proximity to risks like rivers, nearest fire station and hydrant, and more)
  • The cost of repairing or replacing the premises, equipment, furniture, materials, and inventory
  • Premises age, type, building material, roofing, and electrical, heating, and plumbing systems
  • Damage mitigation or prevention measures like security alarms and sump pumps
  • Insurance history
  • Insurance options, including coverage, deductibles, and policy limits

We can help you review your nonprofit insurance policy to answer any remaining questions about your coverage. We’ll also be able to help you figure out whether you’ve got enough coverage, or if you should purchase more.

Contact us today for a quote for nonprofit insurance or to learn more.

 

 

General Liability Coverage

Risk Factors
A general liability policy insures your nonprofit organization against classic slip-and-fall scenarios. (It’s sometimes also called a “commercial general liability” or “CGL” policy.)
Solution
Your nonprofit will be covered for damages that it’s ordered to pay to someone (such as a visitor, customer, supplier, or associate) who is injured on the organization’s property.

Note:  Please talk to your financial consultant to check all the facts before proceeding

Property Coverage

Risk Factors
Whether you own or rent the space your nonprofit occupies, consider what your organization might lose in the event of a fire, earthquake, vandalism, storm, or similar event.
Solution
Buy property insurance that covers those risks, making sure it covers not only the building (if your organization owns it) but any Fixtures, equipment, machinery, office furniture, computers and accessories.

Note:  Please talk to your financial consultant to check all the facts before proceeding

Product Liability Coverage

Risk Factors
If your nonprofit sells products to the public for example, you raise funds by selling baked goods, or your artist-clients create and sell sculptures out of recycled products, consider buying product liability insurance.
Solution
It will protect your organization from lawsuits by customers claiming they were hurt by an unsafe or defective product you provided. For example, if a customer breaks a tooth on a walnut shell baked into your cookie or slices a hand on a sharp-edged sculpture, this insurance will cover the legal defence and a sizable portion of the damages.

Note:  Please talk to your financial consultant to check all the facts before proceeding

Director & Officers Liability Coverage

Risk Factors
Your non-profit’s board of directors and officers (many of whom are volunteers) could be personally named in a lawsuit against your nonprofit alleging fraud or financial mismanagement.
Solution
You’d want directors and officers (D&O) insurance to cover the cost of defending the directors and officers and pay any resulting money damages.

Note:  Please talk to your financial consultant to check all the facts before proceeding

Professional Liability Coverage

Risk Factors
Similar to D&O coverage, professional liability coverage (also sometimes called “errors and omissions” or “malpractice” insurance) protect against liabilities resulting from mismanagement of the organization, as well as workplace-related claims such as discrimination or sexual harassment.
Solution
It can help cover not only directors and officers but also staff, volunteers, and the nonprofit organization itself.

Note:  Please talk to your financial consultant to check all the facts before proceeding

Workers Compensation Coverage

Risk Factors
General liability will not provide coverage for injuries to employees. These coverages are important because they address injuries to your human assets – your employees and your volunteer workforce.
Solution
Workers’ compensation pays medical expenses, disability, and death benefits for injured workers. Volunteer accident insurance pays for minor injuries to volunteers who are donating their time and expertise to your cause.

Note:  Please talk to your financial consultant to check all the facts before proceeding