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A Short Guide To Insurance For Nonprofit Organizations

A Short Guide To Insurance For Nonprofit Organizations

Running a non-profit organization can be a very rewarding endeavor and is a great way to give back to your community or support a cause that you hold near and dear. However, running a non-profit does open you up to a certain amount of financial risk.  Despite not making a profit, non-profit organizations are actually vulnerable to many of the same risks as for-profit businesses.  Luckily, you can obtain insurance for nonprofit organizations.

What Is Insurance For Non-Profit Organizations?

Insurance for non-profit organizations is a category of insurance coverage that is designed specifically to protect non-profit organizations and the people running them. This type of insurance coverage can pick up the bill if something unexpectedly goes wrong.

What Types of Coverage Come With Non-Profit Insurance?

Most insurance providers will suggest specific types of coverage to address your insurance needs, however, you can usually select which type(s) of coverage you want. This being said, however, most non-profits only need general liability insurance and maybe a commercial auto policy if your non-profit utilizes vehicles. If your non-profit has employees, you will have to get workers' compensation to cover any work injury-related costs.

Running a non-profit is riskier than most people think and could land you in deep financial trouble if you aren't careful. Non-profit insurance can help everything run far more smoothly.