What Is Covered Under Non-Profit Insurance?

Non-profit insurance is a business insurance policy that provides protection for your entire organization. It can protect board members, staff, volunteers and possibly independent contractors who work for you.

What Does a Non-Profit Insurance Policy Include?

Most non-profit insurance policies cover many aspects of an organization. A non-profit policy may include:

Auto Coverage
General Liability Coverage
Professional Liability Coverage
Property Coverage
Umbrella Coverage

Other coverage includes crime, equipment breakdown, sexual/physical misconduct, and employee benefits liability.

Why Are There So Many Coverage Options in Non-Profit Insurance?

There are many things that can occur when running a non-profit. General liability, also known as "slip and fall" insurance, usually kicks when individuals get hurt in your place of business and your non-profit is deemed liable. It could also help if there is property damage.

Additionally, some non-profit organizations have special coverage — such as fidelity insurance. This will protect the organization against embezzlement. And organizations can get social services professional insurance, which provides protection against errors & omissions claims.

How Much Insurance Should Our Organization Buy?

Non-profit organizations may have insurance policies of $1 million or more. Depending on how large the organization is, this high level of coverage may be necessary. Additionally, government guidelines may require organizations that have large operations to have certain coverage.

It may be wise to also purchase a Directors and Officers (D&O) insurance policy. This will cover your organization in the event of a wrongful termination lawsuit.

How Can I Determine How Much Insurance Our Non-Profit Needs?

The best way is to consult with a knowledgeable insurance professional, who can match your needs with specific policy options. For instance, if your needs call for it, your non-profit insurance coverages could be combined into a Business Owner's Policy (BOP). A BOP will give you one consolidated policy for all your coverages. This will save time and possibly money for the organization.

This is just one option; a knowledgeable insurance professional will let you know what will work best for your non-profit.

Do you have questions about what insurance your non-profit needs? Call Full Armor Insurance Services, LLC at (208) 664-6000 for a free Idaho non-profit insurance quote.