The everyday responsibilities of operating a nonprofit organization are diverse and complex. In the midst of finding volunteers, contacting donors and managing budgets, nonprofits must avoid becoming complacent about potential risks and hazards that could lead to major damages and losses. Fortunately, the right nonprofit insurance can provide critical protection.
What Is Nonprofit Insurance?
Nonprofit insurance bundles several key types of coverage generally needed by nonprofit organizations, including:
- General liability—This coverage protects your organization if a lawsuit alleges you were to blame for bodily injury, property damage or personal and advertising injury.
- Commercial property—If your organization’s property is damaged, this coverage can help cover repair or replacement costs.
- Professional liability—If a lawsuit alleges your nonprofit provided insufficient products or services, this coverage can help cover resulting legal expenses.
- Directors and officers liability—This coverage is vital if allegations of wrongdoing or mismanagement are brought against your organization’s senior leadership team.
- Commercial auto—If your nonprofit utilizes vehicles regularly, this coverage will provide financial aid following an accident for which you are held liable.
- Workers’ compensation—If one of your employees is injured at work or develops a work-related illness, this coverage may cover resulting medical expenses, lost wages and legal costs.
Get the Right Coverage
Nonprofit organizations have many of the same risks as businesses but must also account for their unique circumstances. Our agents are ready to work with you to determine your nonprofit’s specific insurance needs and craft a nonprofit insurance policy providing optimal protection. Contact Cummins Insurance Agency today to get started.