Non-Profit Organization Insurance
Providing Business Liability Insurance in Austin, Round Rock and All of Central Texas
Insurance for non-profit organizations
At Sunstone Insurance Agency, we salute the work you do to make our community a better place. We respect the work of non-profit organizations, and we are happy to help your non-profit find the right coverage. Let Sunstone Insurance Agency put together the best non-profit insurance program for your organization.
Coverages available for non-profit organizations
Most non-profits need a set of policies or a “package” policy to properly cover their organization from the exposures they face. Often we can find a non-profit insurance package policy that address the most common exposures. If not, we can help you piece together the right combination of policies to create the same coverage. In general, every non-profit should have the following coverages:
Non-Profit General Liability
General liability protects the organization from claims of bodily injury and property damage by third parties. Typically these are slip and falls at the organizations place of business, or at remote locations, but general liability can encompass a number of third party injury or property damage claims. General Liability can be a good a starting point for non-profit insurance coverage.
Directors and Officers Coverage
A non-profit directors and officers policy (D&O Policy) protects the organization’s board members from claims made while they were serving (and in some cases after they served) on the non-profit organization’s board. A good D&O policy is critical to attracting and retaining great leaders for the organization’s board of directors.
Directors and officers policies are claims-made policies, much different than occurrence forms that are found in commercial general liability policies. This is a crucial difference, and Sunstone Insurance Agency is happy to provide guidance for your organization.
Another key difference is that Directors and officers policies often have defense costs inside the limits of liability. Defense cost inside the liability limits means that the available limits to pay the organization’s damages are reduced by the amount that are paid to defend in the entity in a lawsuit. For this reason, many non-profits should explore higher limits on the directors and officers policies than they may think they need.
Workers compensation protects the organization in the event of injury to employees of the organization. Contrary to a common misconception, workers compensation coverage is not found in the general liability policy. This must be purchased separately. Depending on the nature of the non-profit’s work, workers compensation can be very affordable. Considering the high exposures in workers compensation claims, this coverage is critical.
Property coverage can take the form of a property policy, insuring a location and the contents inside the building, or it can be in the form of an inland marine policy. An inland marine policy should be considered if the organization has equipment to be covered. An inland marine policy will also protect the property even when it is in use away from the organization’s offices.
Special events with liquor Liability
Many non-profit organizations sponsor events to promote the organization. There may or may not be contemplated by the general liability policy. Event coverage can be incorporated into the general liability policy, or can be a separate non-profit special event liability policy written for each specific event.
Special event policies can also include liquor liability coverage, which is a must if the event is to have alcohol consumption.
Beyond Central Texas
Sunstone Insurance Agency is your agency of choice for non-profit insurance in Texas. We are happy to assist organizations all of the State.
The importance of independence
As an independent Insurance Agency, Sunstone Insurance Agency can shop your organization’s insurance to several different non-profit insurance companies. This allows you to maintain great insurance coverage for your non-profit organization, and stay in budget.
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