If you operate a nonprofit then you may need to stretch every dollar. Most not-for-profit businesses depend on donations and other revenue streams and as a result, have little money left for things like insurance. However, as with any business, you need an insurance policy to protect your investment. Does your nonprofit need coverage? We think so.
Frequently Asked Questions About Nonprofit Insurance Policies
Question: Can I receive liability coverage?
Answer: Yes. You can obtain a policy for your not-for-profit that covers liability issues, such as a car accident where one of your employees is at fault or if someone becomes injured on your property. The resulting medical costs and potential lawsuit could be devastating to your income flow, hurting your ability to make a difference.
Question: What if my business is damaged?
Answer: One of the main reasons people obtain a policy is for situations where the business building or vehicle becomes damaged in an accident. Otherwise, the costs could exceed what your nonprofit can afford, causing your business to fail.
Question: Can I receive protection in the event of a lawsuit?
Answer: Even as a nonprofit aimed at improving the world, you need to be protected from potential lawsuits. Should a director or one of your employees become engaged in a lawsuit, the costs could quickly spiral out of control. Fortunately, a business insurance policy can provide coverage for such a situation.
Question: Can I combine these in a single comprehensive policy?
Answer: Yes, you can. In fact, this is one way we bring down the costs of a policy for a business. We combine the different forms of coverage into one comprehensive policy. We understand that every single dollar counts, and if you are setting aside money to pay for an insurance policy, we want make sure you obtain the coverage your business needs.