Non-Profit Insurance

Non-Profit Insurance Provided By Our Agency

Given many nonprofits' shoestring budgets, a single significant and unexpected expense could lead to financial ruin. So, getting the proper insurance to guard against the biggest (or the baddest) risks is a wise move for nonprofits (and other businesses).

Insurance for Non-profit Organizations

Non-profit organizations and their leaders juggle enormous and varied responsibilities daily – from managing tight budgets to engaging volunteers and donors to fulfilling the organization’s mission. Yet, since so many non-profits are singularly focused on a particular cause, organizations often neglect to identify and protect against risks that could expose the organization and its board members and officers.

Just as any business or organization has risks associated with employees, board members, data, or fraud, non-profit organizations of all sizes are not immune. Claims and threats of litigation can be from vendors, donors, competitors, employees, and even government regulators. Non-profit organizations file twice as many D&O claims as public and private companies. In addition, 85% of lawsuits filed are employment-related, and every non-profit 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 Non-Profit Insurance?

Non-profit organizations are mostly like any other organizations, with one significant 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 typical examples of non-profit 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.

What type of insurance coverage does Non-Profit Insurance offer?

The type of insurance required by a nonprofit will depend on the individual organization. A non-profit 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 non-profit 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 non-profit 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 non-profit 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.

Already have Non Profit Insurance?

Switching is easy! It might be time to switch insurers whenever the service that your existing insurer provides doesn’t meet your needs. For example, if you have a poor claims experience or an unexplained rate increase, it might be time to consider other options

If you cancel a previous policy before a new policy is effective, you could run into some serious financial problems.