3 Types of Insurance Policies a Non Profit Should Buy

Since non profits tend to run on smaller budgets than businesses, it makes sense for them to exercise even more care and consideration when it comes to protecting themselves using insurance policies. That said, since non profit are so similar to businesses in their operation, it should come as no surprise to learn that said organizations have similar but not the same insurance needs.

Non Profit Organization

Source: Wikimedia

Here are 3 types of insurance policies a non profit should buy:

  • Both businesses and non profits need general liability insurance to protect themselves from legal liabilities incurred as a result of being sued for claims. The classic example is of the customer who slips and falls on the premises before suing for compensation. Bear in mind that not all general liability insurance policies provide the same coverage, though they can be used to cover everything from legal expenses to both judgments and settlements.
  • Property insurance can be used to protect a non profit’s possessions from losses sustained as a result of fire, floods, earthquakes, burglaries, and similar events. Non profits need to make sure that their property insurance policies cover both their buildings and the contents therein.
  • Auto insurance is included in the types of insurance policies a non profit should buy so long as said non profit is using vehicles in the course of its activities. It is useful for protecting the non profit from both losses and legal liabilities.

It is important to remember that each non profit has its own particular needs when it comes to insurance policies. For example, if a non profit has employees, then it is going to need both unemployment insurance and workers compensation.

To learn more about the types of insurance that a non profit should buy, please contact us at Schumacher Insurance at your earliest convenience.

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About Schumacher Insurance Agency

Why trust us? What do we do different than every other insurance agency? Consider this an invitation to get to know us. We believe we are an exceptional team of protection specialists that work hard to do things the right way, to educate our clients on insurance, and make the experience effortless. We are excited to introduce a new insurance experience for our customers. We encourage you to speak with our team who can show you how different we are… from text messaging services for late payments to educational insurance concepts on Facebook. We will prove our innovative approaches to obtain the proper coverage’s for you, your family, your business. Insurance is likely not the most interesting affair for everyone, but it is most certainly ours! Yes, we are insurance geeks!

Posted on December 20, 2014, in Agency and tagged , , , . Bookmark the permalink. Leave a comment.

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