The Role of Your Broker in Your Nonprofit Insurance Program

Why to Work With a Nonprofit Insurance Broker

When you’re considering securing insurance for your nonprofit, you may need the assistance of an insurance broker. This person can be very useful to have on board as he/she can help you find the right coverage, maintain it to suit your needs, and can answer any questions you have. Ideally, your insurance broker will act as a professional consultant to your nonprofit. They will understand the risks you face and how an insurance program can address them.

To get the most out of your insurance broker:

Ask questions:

  • Request a time to review specific questions you may have about coverage
  • Ask about some of the recommended ways to make changes
  • Understand how to file a claim if necessary and how to make this a simple and easy task

Communicate changes in your nonprofit, such as:

  • Changes in your nonprofit’s operations
  • Address changes
  • New property or equipment
  • Changes to key staff members
  • Upcoming special events 

Let them review risk:

  • If you’re signing a contract, ask your broker to first review it and let you know if there are any issues with liability or compliance.
  • If you’re hiring independent contractors, review with your broker if these contractors meet the legal definition. Then review how the coverage works for contractors on your various policies. 

Don’t let something as valuable as your nonprofit fall into the wrong policy. Contact the experts at HUB International Insurance Services 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.