Churches, non-profit organizations, and social clubs are often overlooked when one thinks of insurance, but they have the same exposure as many corporations. In fact, the Board of Directors or the management of one of these entities is likely personally liable for damage awards. Jeff Van Matre of the Jeff Van Matre Insurance Agency has handled insurance for non-profits for many years and understands the nuances of this market.
Types of insurance non-profits need:
Most non-profit organizations will require at least four types of insurance coverage:
Directors and officers liability insurance:
Many people do not realize that serving on a board of a non-profit, such as the Board of Elders at your church, or the Board of Big Brothers and Sisters, comes with tremendous potential liability. Board members and directors are not insulated from being sued. Without directors and officers liability insurance, each director and officer might have to pay for their own legal defense, and the exposure can be huge for an individual to bear alone.
General liability insurance:
A non-profit is going to need a general liability policy which covers any injuries that may result to non-employees of the organization. This policy would cover the medical expenses of the injured party and would pay the organization’s legal costs if it were sued.
Most non-profits need insurance to cover their property, such as leasehold improvements, equipment, and furniture. Most organization heads may not be aware of how expensive it would be to replace the contents of their offices, or the items that have been donated to the organization.
Worker’s compensation insurance:
Every organization with employees needs worker’s compensation insurance. Employees who suffer work related injuries will have medical expenses and lost wages that they will expect to be paid. Worker’s compensation insurance will cover these expenses.
About Jeff Van Matre Insurance Agency:
To learn more about the advantages of dealing with an independent insurance agent who thoroughly understands the insurance needs of non-profit organizations, call the Jeff Van Matre Insurance Agency at 972-492-8500, which offers customized insurance policies that feature a variety of coverage options. Contact us today to discuss a policy or receive a quote. Located in Carrollton TX, we proudly serve individuals and businesses in Carrollton, Lewisville, Dallas, Irving, Plano, and surrounding communities.