Insurance Coverages For Nonprofits
Nonprofit organizations face similar risks as for-profit companies. Lawsuits, property loss, employee illness can occur at any time. Being prepared with the right amount of insurance coverage is the best way to mitigate these risks. Here are insurance options that you should consider when signing up for your nonprofits insurance policy.
There are a number of liability coverage options available to nonprofits and they all serve a similar purpose – to protect you against third-party lawsuits that arise during the course of your business. As detailed by the experts at David Sayles Insurance, the liability insurance options include, but aren’t limited to:
- General Liability
• Professional Liability
• Molestation & Sexual Abuse Liability
• Directors & Officers Liability
• Employment Practices Liability
Property insurance protects you against perils such as fires, storms, vandalism, and theft. In case of disaster strikes, your policy would cover the repair and replacement costs for your items. You can choose to cover your building, equipment, and furniture under this policy.
Workers’ Compensation Insurance
Even with seemingly less risk for job-related injuries, nonprofit employees need to be protected as well. If one of your employees does become injured or ill, your policy would cover their medical bills as well as their salary while they’re away from work.
Plenty of other insurance coverages are available depending on your needs. Work with an experienced agent to build the perfect policy for you.