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.
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.
Commercial Property Insurance will provide coverage for your properties in case damage renders them impossible to rent or lease.
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.
Why do Religious Organizations & Churches need insurance?
Even religious organizations or churches have their own set of risks. Having the right insurance for your religious organization covers your members and your house of worship for the many risks it could face. It protects your organization from all possible risks including your volunteers, your house of worship, your ministers, and other members of the organization.
What risks do Religious Organizations and Churches face?
Below are some common risks that religious organizations and churches can face:
How much does Church Insurance cost?
There is no fixed amount for the cost of church insurance as the price normally depends on the size of your organization, the number of employees your organization has, the coverage required, and many other factors. Without taking these into account, below is the average cost of insurance for religious organizations:
What types of insurance do Religious Organizations and Churches need?
Operating a successful religious organization means having proper insurance protection in place. There are several types of insurance policies that your parish will need to be insured well and ensure that your church is not shut down at the sight of a claim. First, you will need a Business Owners Policy which is a bundle of insurance that will help you save money. It consists of General Liability which will provide coverage for third party claims of bodily injury or property damage, like from a parishioner tripping and falling. A BOP will also provide property coverage, also sometimes referred to as fire insurance, in the case that it may be physically damaged from a covered peril such as fire, lightning, wind, and rain.
Another critical insurance policy that any congregation should have is Directors & Officers insurance. Certainly, your religious organization will have a board of directors that is established to help run it and ensure that everything is going smoothly. They are also usually in charge of the money aspect of the church, deciding where the money goes and is coming from. A D&O insurance policy will protect the board members’ personal assets from claims alleging anything to do with their job on the board. A claim that we see often is mismanagement of funds.