Why a Non-Profit Needs Business Insurance

Why a Non-Profit Needs Business Insurance
If you have or are involved in a non-profit business or organization, you may feel that business-style insurance is unnecessary. One may not believe a non-profit is subject to liability issues like a for-profit company. Perhaps you may not believe someone would sue a charitable or non-profit organization. The reality is, however, other than the differences between how a non-profit and profit organization are treated by taxing authorities, they share more similarities than differences.
Here are some reasons non-profits need business-style insurance protection.
Non-Profits Have Assets That Can Be at Risk
Like their for-profit counterparts, non-profits have assets that can be lost through a fire or other natural disaster, or even through theft or vandalism. In some cases, these assets can be substantial. Computers, software, office equipment, furniture, educational and promotional materials and other assets can be expensive to replace.
Non-Profits are Subject to Liability Claims
Even if a non-profit organization leases or rents the space for its operation, it can still be subject to liability claims from a slip or fall or other issue. A client, volunteer, employee or even delivery person who gets injured on your leased or owned property can hold you responsible. Liability insurance can cover legal costs, pay any claims and even take care of any settlement resulting from a liability claim.
Board Members Can Be Held Responsible
Professional Errors and Omissions coverage can help protect board members of a non-profit for decisions associated with the non-profit. This is a specific form of insurance designed particularly for members serving on a board.
Owned Real Estate May Be at Risk
If your non-profit owns real estate, that property is still at risk from natural disasters, vandalism, theft and other threats. Churches, in particular, tend to have sizable real estate assets that should be protected from wind, rain, fires and flooding. A well-operated non-profit won’t just rely on the goodwill of its supporters to recover from a disaster. It will take pro-active steps in making sure the organization can continue its work even after a loss.
Getting the Coverage You Need & Deserve
Our independent agents can assist you and your organization in getting the protection you need and deserve. We work with a variety of insurance providers, many of whom specialize in insuring non-profit organizations. We can review your risks, and provide options to minimize those risks. Contact us today for your free consultation and quote.
 Do you have questions about your insurance? Find an insurance agent near you with our Agent Finder 
Search All Blogs
Search All Blogs
Read More Blogs
Tricks, Treats, and Liability: Safeguarding Your Business This Halloween
A guide for business owners to navigate Halloween risks and insurance.
The Halloween Legacy: Protecting Your Family’s Future with Life Insurance
A thoughtful guide to life insurance as a legacy for your family.
Don’t Get Spooked: Navigating Halloween Night with Your Auto Insurance
A guide to safe driving and auto insurance on Halloween night.
Beyond the Goblins: Protecting Your Home from Halloween Night Risks
A guide to protecting your home and managing liability risks on Halloween night.
October Adventures: 5 Must-Do Activities for the Fall Season
A guide to 5 fun and unique activities to do in October.
October Operations: Protecting Your Business for the Rest of the Year
A guide to fall business insurance review and risk management for entrepreneurs.
The October Promise: A Time to Secure Your Family’s Future
A thoughtful guide to understanding life insurance and securing your family’s future.
October Driving Prep: Get Your Car and Your Policy Ready for Fall
A guide to preparing your car and auto insurance for the fall season.
The October Home Check-Up: Securing Your Home for the Fall Season
A guide to fall home maintenance and home insurance review for the month of October.
The Wanderer’s Playbook: The Art of Traveling on a Budget
A practical guide to finding and saving money on travel adventures.
 
				 
				 
				 
				 
				 
				 
				 
				 
				