Regardless of the type of the operation of mission, one of the last things most non-profit operators think about is insurance. Does a non-profit need business insurance and is it different than regular business insurance?
In truth, the answer is yes. As a non-profit organization, you still need business insurance. Running without it your non-profit could find itself on the hook for a lawsuit.
The most often filed claim against a non-profit organization is accidental injury. This injury claim can be a simple slip and fall in your building or parking lot or even a car accident where someone traveling for business is involved and found to be at fault in an accident. Your organization could be liable for damages. Without policy coverage, this could very well bankrupt an organization.
What type of insurance does a non-profit organization need?
There are almost as many kinds of insurance as there are non-profits, so knowing what coverage is needed can be confusing. We are here to help. With the right insurance, organizations can focus on what they do best – serving the needs and interests of the communities they serve.
All organizations should have general liability insurance in place. This is an overall form of coverage that protects not for profits in the event that a patron or employee is accidentally hurt on the premises. This coverage also protects for damages. Even organizations that do not have a walk-in facility can still be liable for damages and slips and falls that happen in a member’s homes, a community center, or a meeting place.
If you use a vehicle for work, you should hold a non-owned/hired car policy. This type of policy provides protection should someone operating an organization’s vehicle be covered in the event of an accident. This is especially important if they do not have adequate personal coverage.
Non-profit organizations can be held financially liable in the event of an accident or damages as a result of any of their actions, which can be costly if the organization is not properly insured. Having adequate non-profit insurance gives you the peace of mind that your organization is covered in the event of an accident, leaving you free to do what you do best: serve the community.
If you have further questions or run a Non-Profit and would like a quote, please give Centennial Insurance a call at 239-247-5125. Our agents are standing by to help. www.cisinsfl.com