Essential Strategies and Avoidable Errors in Nonprofit Insurance Coverages

The dos and don’ts in protecting your nonprofit.

Nonprofit owners are away that nonprofits need insurance as part of their risk management strategy. However, buying insurance is not as simple as many organizations think. Before looking at the various policies and coverages, it’s smart for a nonprofit to consider the risks specific to their mission and environment. In addition to speaking to a qualified insurance agent, here are some dos and don’ts for buying insurance for your nonprofit.


  • Learn more about various insurance policies. Nonprofit leaders need to understand exactly what they are paying for and how to use their policies in the event of a workplace incident or claim.
  • Select an agent that specializes in nonprofits and provides high-quality service.
  • Request a schedule of insurance. This will detail policy limits and exclusions, premiums, and special features. It will also provide suggestions for coverage, too.
  • Ask for a better price. Work with your insurance agent to lower your premium without sacrificing coverage.


  • Become complement with insurance coverage. Many organizations believe that having insurance will cover 100 percent of scenarios and claim situations. This is simply not the case. Familiarize yourself with the coverage and policy limits.
  • Assume an insurance provider will automatically renew insurance policies. Sometimes, a carrier will drop an organization that makes frequent or expensive claims.
  • Forget to review! As your nonprofit changes, your insurance coverages will need to, too. Review coverage at least once every year so that you can add or dismiss coverage that adequately protects your nonprofit.

Learning the ins and outs of nonprofit insurance coverage can help save a nonprofit from financial hardship. Are you ready to secure the right coverage for your needs? Contact the experts at Colorado Nonprofit Insurance Agency, part of HUB International in Denver, Colorado at 303-894-0298.