How Insurance for Nonprofits Has Changed for the Better

Insurance is changing with the nonprofit industry.

Every nonprofit knows that no two organizations are alike. Even if they operate in the same area or the same cause, there are twice as many differences as there are similarities. Each nonprofit is unique and, as insurance agents, we know and appreciate that. Insurance for nonprofits hasn’t always been affordable or effective. Some 30 years ago, the premiums were far higher than they needed to be and risks weren’t always properly addressed. Today, insurance is tailored to each organization and streamlined to suit every budget.

Many years ago, insurance wasn’t always easy to obtain as a nonprofit organization. This is partly because the insurance market viewed nonprofits as part of the larger business community, not as a special sector with unique risks. This meant that it was difficult for nonprofits to obtain good coverage for the specialty lines.

Luckily, things have changed for the better. Insurers view nonprofits as their own separate entity and understand their sector of special risks. Today, there is no one-size-fits-all approach for insuring nonprofits. Instead, insurers are rigorously trained in how to assess a nonprofit’s needs. The size of organization, location, donor details, and volunteers are be assessed to complete the financial risk picture.

Thankfully, there are more insurance options than ever before and prices are stable. A qualified insurance agent will be able to work with the nonprofit to design a policy that suits their needs and budget.

Don’t let something as valuable as your nonprofit fall into the wrong policy. Contact the experts at Colorado Nonprofit Insurance Agency, part of HUB International in Denver, Colorado at 303-894-0298. Make sure that your nonprofit is properly covered. We will work with you to ensure you are getting the most out of your coverage.