3 Types of Insurance Recommended For Nonprofits
Many nonprofits help vulnerable populations, children, adults with disabilities and at-risk individuals. Nonprofit insurance can reduce your risk when offering services to protect your clients and staff. While most nonprofits carry general liability for incidents that occur on the property, this type of insurance may not be enough.
Commercial Auto Liability
Your nonprofit risks liability any time you drive a vehicle for nonprofit business. A commercial auto insurance policy protects individuals and the nonprofit. Check with your state to know the minimum amount of coverage required.
Directors and Officers Insurance
D&O insurance protects your board of directors and officers in the event they are personally named in a lawsuit. This kind of coverage can be vital to keeping board members, but before you rely on this type of insurance, make sure to discuss exclusions with an agent.
If you have employees, you need to make sure to protect your nonprofit against worker injuries. Keep in mind that worker’s compensation insurance generally won’t cover volunteers. It’s a good idea to discuss with your agent how volunteers are covered in case of an accident or injury.
Don’t discount the power of nonprofit insurance for your organization. You’ll have peace of mind that the mission will keep going.