Museum Insurance
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What Insurance Do Museum Need?
Commercial Property Insurance will provide coverage for your properties in case damage renders them impossible to rent or lease.
Workers Compensation covers your employees' medical costs and lost wages while recovering from a work-related injury or illness. The employee gives up the right to sue your company in return for receiving cash and benefits from Workers Compensation. In some states it’s mandatory for businesses!
Business Interruption Insurance protects your small business if impacted by a covered risk. It'll cover the costs in replacing lost income and paying for additional expenditures. Also known as Business Interruption Coverage, this policy is usually part of your BOP (Business Owners Policy).
General Liability Insurance protects your small business against claims of third-party bodily injury and property damage, reputational harm and advertising injury. It covers medical bills, repair costs & legal fees.
Frequently Asked Questions
Why do Museums need insurance?
Museums need insurance to protect against the many risks it can face. These include liability lawsuits, property damage claims, medical expenses, and other risks. When you don't have insurance, it can be a devastating out-of-pocket expense. With insurance, these covered risks are paid for up to the policy limits. All you have to do is pay a small monthly fee to get insured.
What risks do Museums face?
Museums face a lot of unique risks. Some examples include:
- A customer slips and falls, suffering injuries. You'll be responsible for the customer's medical fees, your defense fees, and court costs if the customer sues your business.
- Your museum catches fire in which some of your priced artifacts are destroyed.
- Because of a fire, your museum closes temporarily, losing profits that you would have earned on that day.
How much does Museum Insurance?
There is no fixed cost for museum policies because insurance carriers determine the cost from the size of your museum, the number of museum employees you have and the coverage required. If you want to find out the cost of your insurance policies, simply apply online and get a free quote within five minutes. You can also talk directly to our insurance experts over the phone.