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No two non–profits are the same, and that’s why you need an insurance policy unique to your organization. Because even though your organization’s goal is to help people, you are still running a business. Consider a non–profit insurance policy that offers coverage for your organization’s unique needs.
What does this mean for your non–profit? By protecting it against the risks that small business owners face, you’ll often find that premium prices for non–profits may be lower than traditional businesses. There are variables that come into play, including the scale of your operations, which may determine the cost of coverage.
Because non–profits vary in size and type, there are many coverage options available that may fit the needs of your organization. Some factors to consider in building a policy are whether or not you deal with members of the public at risk of injury, such as elderly or disabled people. You’ll also need to think about any type of transportation you use, particularly if it’s to carry people who aren’t staff. You might even face claims if people are hurt or face costs because of shortcomings in the help or advice you provide.
Tax–exempt organizations such as volunteer fire departments, unions, religious groups, recreational clubs, charities, and more may require non–profit insurance.
Having non–profit insurance for your organization may help protect you regarding professional mistakes, lawsuits, bankruptcy, and damage to your reputation.
The cost of covering your organization may depend on a variety of factors, including your location, the size of your non–profit, how many employees and workers you have, and what type of organization you run.
It’s also particularly important to check how an insurance policy distinguishes between the organization itself and the personal liabilities of any of the directors. Meanwhile, if you employ staff, you’ll also need to look at potential risks such as claims of harassment or discrimination. Coverages such as directors and officers liability, workers’ compensation, and employment practice liability insurance may help your organization in these situations. Looking for non–profit insurance so your organization can carry on giving back to others? Contact us to go over the specifics of your non–profit and the coverage options available to you.