Like a business or a homeowner, a nonprofit organization needs protection, too. Without property or liability insurance, unfortunate circumstances, like a fire, theft or lawsuit, could be financially devastating. We invite your organization to explore our nonprofit insurance offers. You might also consider looking at insurers who specialize in insurance for nonprofits. Regardless, we’re here to help you find the best solutions. We explore some of the many insurance types below.
If your organization owns real estate, you’ll want to insure the property. If your nonprofit rents or leases a premise, you may want coverage for tenant improvements, which includes fixtures, alterations, installations or additions you added the space that cannot legally be removed from the landlord's premises. Depending on your nonprofit’s operations, you may want to add other coverages, like theft and burglary, employee dishonesty or electronic data loss.
Nonprofits have no immunity from lawsuits. Clients, volunteers, vendors, donors or visitors may sue if accidentally injured on your premises or while on organization business. Someone may sue claiming libel or slander. Employees may sue for discrimination or sexual harassment. Liability insurance covers these risks.
Before buying insurance, it's a good idea to consider the particular loss exposures you have and buy a policy that addresses them. If, for example, your organization is made up mostly of volunteers and has no paid staff, your best choice may be a policy that covers only volunteers.
Vehicles owned by a nonprofit organization will need to be insured with a business auto policy. Anyone driving a personal auto on business for a nonprofit organization will have coverage under their personal auto liability policy. However, if the personal policy has low limits, they could quickly be exhausted by an accident with serious injuries. An injured party might then sue the nonprofit group. At Ryder Rosacker McCue & Huston, we’re here to help you determine if the organization is adequately protected.
States have varying rules about when an employer must provide workers' compensation insurance. If you have three or more employees, you should check with your state department of workers' compensation to see if you are required to provide this type of coverage.