When you’re in charge of a non-profit, you have seemingly endless things on your plate. You want to focus on promoting your cause, supporting your volunteers and helping as many people as you can.
One thing you don’t want to be worrying about is protecting your organization from unexpected liabilities. Even if you you’re unsure of what sort of insurance your non-profit needs, there’s one thing you should know: insurance is essential if you want to protect your business, employees and volunteers. Here are some benefits insurance provides that your nonprofit might not be taking advantage of.
Keep Your Volunteers Safe
Like many non-profits, you probably have a large number of volunteers helping you at events, in your offices or out in the community. The last thing you want is for one of them to get hurt and have to deal with expensive medical bills. Volunteer Injury insurance, also known as Accidental Death and Dismemberment (AD&D), provides your nonprofit and charity volunteers with coverage should they be injured while volunteering. Depending on your policy and the type of injury they’ve sustained, some policies cover up to $100,000 of payments!
Protect Your Boards Members and Employees
Everyone makes mistakes—employees included. Even when people have the best intentions in mind, wrongful dismissal, wrongful discipline, discrimination and misrepresentation can occur. When they do, you want to make sure that your board members and other officers of your non-profit are covered by Nonprofit Directors’ and Officers’ (D&O) insurance. When you have D&O insurance, you no longer need to fear that workplace legal incidents could leave your non-profit hamstrung.
Give You Access to Legal Services
Even when you’re not dealing with a claim, it’s extremely valuable to be able to speak with someone who can offer general legal advice. From 8:00 am to midnight, seven days a week and 24/7 in emergency situations, Legal Expense insurance (LEI) gives you access to a lawyer who can answer any and all questions you have. Plus, with LEI, you get up to $100,000 in coverage for things like criminal charges, employee disputes, tax protection and bodily injury.
Protect Your Company When Accidents Happen
Accidents happen to everyone. If you’re hosting an event or using someone else’s equipment, you want to make sure your insurance company assume the costs if anything gets damaged or anyone hurts themselves. As long as you have Commercial General Liability insurance, damages and legal costs related to third party claims of bodily injury, property damage or personal and advertising injury are covered.
Secure What Your Company Owns
Not only do you want to protect the people working for you, but everything you’ve worked so hard to earn over the past years. You probably have desks, computers and printers. Non-profit publishers or radio broadcasters often own expensive specialty equipment such as microphones and modems. Having this equipment damaged can be crippling to both your operations and your bottom line. Contents and Assets insurance is designed to pay for sudden and accidental damage or loss of your property as a result of fire, theft and water damage.
Guard Against Criminal Behavior
Although you might not want to think about it, instances do occur when employees or people around your business might try to take advantage of your good graces. Crime Liability insurance covers you when you incur losses resulting from employee infidelity, money inside and outside of the main premises, computer fraud and currency fraud.
When you find an insurance package that covers all of these liabilities and more, you safeguard your non-profit against unforeseen circumstances that threaten your operations. Protect yourself and your employees so that you can stop worrying about the unexpected and get back to doing what you do best: helping your community.