Why Nonprofits Need Insurance

How nonprofit insurance can benefit your organization.  

It’s not unusual for new or small nonprofits to overlook the value of insurance when considering their nonprofit protection. After all, you’re a nonprofit, what risks do you have? It turns out, many. Nonprofits are not immune to disasters, cyber-attacks, accident, injury, errors, and more. Insurance helps to protect your nonprofit from the unexpected that can put your organization at risk of closing its doors. With this in mind, take a look at some of the essential coverages nonprofits should consider.

  • General Liability Insurance

General liability is the policy that addresses bodily injury and property damage claims. It also includes a defense for personal and advertising injury claims, such as copyright infringement.

  • Property Insurance

Whether you own or rent a space from which your nonprofit operates out of, be sure to protect it with commercial property insurance. Instances such as a burst water pipe, fire, natural disaster, theft, and vandalism can hurt your organization and funds.

  • Directors and Officers/Employment Practices Liability Insurance

D&O is coverage that protects leadership against a variety of lawsuits. It is a management liability coverage that works to safeguard the nonprofit’s key people. Employment practices liability coverage helps to protect against claims arising from discriminatory practices and sexual harassment.

  • Workers’ Compensation

Workers comp is designed to safeguard your employees and volunteer workforce. It helps to pay medical expenses, disability, and death benefits for injured workers. Volunteer accident insurance pays for minor injuries to volunteers who are donating their time and expertise to your cause.

  • Cyber Liability Insurance

Donor data, employee information, confidential client details, and more can be accessed on a nonprofit’s computer server and devices. Cyber liability insurance helps when nonprofits experience cyber theft.

Are you ready to secure the right coverage for your needs? Contact the experts at HUB International Insurance Services on 303-894-0298.