When a non-profit hires, those employees bring risks into the business. They may face damage risks to their person, or pose damage risks to other people or their property. Non-profits must comprehensively analyze all levels of employees, and then insure them accordingly.
What Employees Need Insurance Coverage?
Non-profits may have full-time staff, part-time workers, volunteers, contractors or other staff. Getting coverage for all employees often requires the organization to analyze existent risks.
Take a look at some of the benefits for non-profit employees. Full-time employees likely have to receive health or workers' comp benefits in the right circumstances. However, volunteers or contractors may not have to receive these benefits. Therefore, some non-profits may be able to forego benefits.
Nonetheless, let’s look at the example of liability coverage for employees. Every person who works in your business may cause damage to a third party. This could put the non-profit’s financial or legal stability at risk. The non-profit should therefore provide liability coverage for all employees.
Insurance to Consider for Your Non-Profit
When a non-profit enrolls in insurance, they must analyze personnel and cost needs. There are multiple insurance policies that may protect non-profits.
· Health Benefits: Most businesses and non-profits have to provide full-time employees health insurance. They may not have to give benefits to part-time employees, though some businesses choose to do so.
· Workers’ Compensation: A job-related injury or illness could harm an employee. The non-profit may have to pay the injured party workers’ compensation. Workers’ comp can help the injured party pay for medical care, rehab or supplement lost income.
· General Liability Insurance: General liability insurance can protect a business and its employees in case harm comes to third parties. For example, someone may fall and break a leg in your non-profit. They might sue the business. A general liability policy can help protect the business in case a mistake led to these damages.
· Professional Liability Coverage: Let’s say you run a non-profit that provides credit advice. One of your employees may give financial advice that winds up damaging a client’s finances. Professional liability coverage can help non-profits whose professional mistakes harm consumers.
Your non-profit insurance agent can help you determine how much coverage you need for employees. Talk to your agent about anyone who will work for you. Your agent can help you decide how best to insure all levels of employees.
Need non-profit insurance? Let us help. Call Full Armor Insurance Services at 208-664-6000 for a fast, free insurance quote.
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