Call Full Armor Insruance Services CALL US TODAY | (208) 664-6000
Auto Insurance CHURCH

Church insurance protects you against financial loss if you have an accident.

Read More
Non-Profit Insurance NON-PROFIT

Finding insurance doesn't have to be difficult. We do the work for you.

Read More
Mission/Travel Insurance MISSION/TRAVEL

Discover the perfect insurance options to meet your specific and unique needs.

Read More
Business Insurance BUSINESS

Browse a variety of insurance options in order to find the right one for you.

Read More
Auto & Home Insurance AUTO & HOME

A standard policy insures the auto & home and the things you keep in them.

Read More
Life Insurance LIFE

Learn about different life coverage options that fit your specific needs.

Read More

Workers at Food BankThe objective of non-profit work is not to increase operating capital. From local charities to national service organizations, most non-profits want to push as much of their bottom line as possible towards their cause.

For that reason, other aspects of the budget are likely very tightly controlled. Responsible non-profits usually hold some capital back in case of losses. However, unforeseen losses can often severely damage a non-profit's stability.

It is important that non-profits maintain appropriate levels of insurance to protect the property that they operate from. By protecting their property, non-profits can better guard their physical assets and therefore devote more money towards their missions.

Property Coverage for Non-Profits


Businesses of any kind usually stand to lose money in case of property damage or destruction. This scenario is magnified for non-profits, thanks to the sensitivity of their finances. In fact, non-profits could stand to lose a lot more to property damage than a business with high capital retention.

The average non-profit insurance policy comes with property damage coverage. Property damage coverage usually protects damage to or destruction of business assets, such as building structures, furniture, electronics and machinery.

Non-profit insurance property coverage may also add protection of any inventory that the organization keeps on hand.

Many non-profits keep branded or donated items on hand. Some charities also deal in goods or provisions, such as clothing stores or child clothing. An incident could destroy these items. If this happens, then the non-profit may not be able to serve its mission.

For this reason, ask your agent if your policy covers certain items of charity inventory:
  • Items donated by the public or by volunteers
  • Food, clothing, furniture or other items that the charity will repurpose to beneficiaries
  • Large items, like donated cars, playground sets or valuable electronics
  • Branded items that the charity sells to raise funds
  • Items stored in warehouses or offsite
  • Personal property belonging to volunteers or non-permanent employees
  • Charity vehicles
Additionally, make sure that you take steps to protect any liquid assets, such as cash reserves, on hand. Any fraud scheme could cost the non-profit considerable money, and you need to be able to regain this capital in case of losses. The best idea for your non-profit is to protect all of your property, as fully as possible.

We can help. Call Full Armor Insurance Services, LLC at (208) 664-6000 for a free Idaho non-profit insurance quote.
Share |


No Comments


Post a Comment
Name
Required
E-Mail
Required (Not Displayed)
Comment
Required


All comments are moderated and stripped of HTML.
Submission Validation
Required
CAPTCHA
Change the CAPTCHA codeSpeak the CAPTCHA code
 
Enter the Validation Code from above.
NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive


View Mobile Version
Facebook
Twitter
LinkedIn
Blog
Google+
ING
GuideOne
Foremost
CNA
Progressive
The Hartford
Safeco
American Modern
Travelers
Bristol West
Zurich
© Copyright 2017. All rights reserved.
Powered by Insurance Website Builder