MONDAY, MAY 23, 2016
 Though non-profit organizations are run differently than businesses — especially in terms of how they bring in money — they have certain similarities as well. Both operations have employees and assets to protect, as well as liability risks. For this reason, it's recommended that non-profits select a comprehensive insurance policy, much like a business would.
Property
Your non-profit needs furniture, computers and equipment to run smoothly on a daily basis. These assets likely took a sizeable initial investment, and loss or damage could be a devastating financial blow. If you don't already have one, make an inventory of the organization's physical assets. The estimated overall value of these assets can be helpful when choosing a property insurance coverage limit. Buying just the right amount of coverage helps protect the non-profit, without needlessly overspending.
Liability
Liability risks come in many forms, so it's essential that you work with your independent agent to determine which coverage options will be most beneficial for your organization. General liability will likely be recommended because it helps protect guests and other third parties while on premises. Another common coverage option is cyber liability, especially if you keep sensitive digital records. Your agent can walk you through the various options.
Employees
When it comes it comes to your staff, there are insurance options to protect them and options to protect against their actions (in the unlikely event that they have ill intentions). Workers compensation insurance is a common option, and one that is required in many situations. It protects workers who are injured while performing their job. You can also protect the organization from workers who embezzle money and commit other forms of fraud.
Ready to learn more about coverage options? Call Full Armor Insurance Services, LLC at (208) 664-6000 for more information on Idaho non-profit insurance.
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