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.
Hired and Non-Owned Auto Insurance protects your small business that hires vehicles or allows employees to borrow company vehicles for business purposes. You're covered for claims of personal injury and property damage if any of your vehicles is involved in an accident.
Directors and Officers Insurance (D&O) protects you against claims made against you and others heads of your company. D&O will protect your and your spouse's personal assets if personally sued for acts in managing your company.
Commercial Property Insurance will provide coverage for your properties in case damage renders them impossible to rent or lease.
Why do Nonprofits need insurance?
Establishments in this industry provide promotional services for different purposes including social advocacy for various causes (firearms, peace, substance abuse), human rights organizations, environmental and wildlife organizations supporting animal rights and wildlife preservation and civic organizations such as alumni associations and parent-teacher organizations.
Non-profits need insurance as it protects your organization from the many unforeseen incidents that it could face. If, for example, your organization is faced with a liability claim, when you have insurance it will cover the defense costs, court costs, and other related expenses. Without insurance, you'll risk paying these expenses out of pocket.
What risks do Nonprofits face?
There are many risks non-profits can face. Below are some examples:
A client entering your office slips in a puddle of water which causes the client to suffer injuries. You'll not only be responsible for the medical payments but also for hiring a defense attorney should the client decide to file a slip and fall claim against your business.
Your employee gets involved in an accident while running errands for you. You later find out that your employee did not use the company-acquired vehicle but instead used their own car and that car got involved in the accident.
An employee files charges against your officers because of improper termination.
How much does Nonprofit insurance cost?
The cost of insurance for non-profits depends on several factors. Most of the time, the cost of your insurance relies on the services you offer, the number of employees you have, and the coverage required. If you want to know the cost of your insurance policies, simply apply online and get a free quote or talk to our insurance experts directly.