Nonprofits

Nonprofit insurance is specialized commercial coverage designed to protect nonprofit organizations from various operational risks. This insurance helps nonprofits manage risks and continue their mission without financial disruptions.

Insurance for nonprofit organizations covers risks specific to nonprofits, including general liability insurance for nonprofits, which protects against claims of bodily injury or property damage. It also includes directors and officers insurance for nonprofits (D&O), safeguarding leadership against claims of mismanagement or wrongful acts. Additional coverages may include professional liability, property insurance, and workers’ compensation to ensure comprehensive protection.

Nonprofit insurance is essential for all nonprofit organizations, including charities, foundations, social service agencies, and educational institutions. This coverage safeguards assets, leadership, and employees while ensuring the organization can continue its mission without financial disruptions. It also helps meet regulatory and contractual requirements.

The cost of nonprofit insurance varies based on organization size, services provided, and coverage limits, typically ranging from a few hundred to several thousand dollars annually. Higher-risk activities or larger organizations generally incur higher premiums. Factors like claims history and location also influence costs.

To get insurance for nonprofit organizations, assess your organization’s risks and needs, including services provided and the number of employees or volunteers. Obtain quotes from multiple providers to compare coverage options and premiums. Work with an experienced insurance broker specializing in the nonprofit sector to tailor a policy that meets your requirements. Ensure the policy includes essential coverages like general liability, directors and officers (D&O) insurance, professional & board member liability, and property insurance.