General Liability insurance is the most important insurance to have for your church or religious organization. This insurance covers the defense and court costs when your business is sued for third party bodily injuries, personal injuries, libel, slander, advertising mistakes, and other related risks.
Commercial Property insurance covers your church or religious organization against perils such as fire, flood, theft, vandalism, and natural disaster. This insurance pays for the cost to repair the damaged building or to replace the contents both inside and outside of the building.
Hired & Non-Owned Auto insurance covers the liability expenses for accidents involving vehicles that your business does not own. This includes rented vehicles and vehicles owned by your employees.
Even religious organizations or churche 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.
Below are some common risks that religious organizations and churches can face:
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:
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.
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