Nonprofit liability insurance is one of the most common insurance options that you can choose. It is designed to protect your company from any costs related to third-party claims of property damage or bodily injury. It is possible to see it under different names, such as commercial general liability insurance, but this is still good insurance for nonprofit businesses.
Accidents can happen, whether you are a commercial business or a nonprofit and having the right insurance in place will make sure your assets are safe. There are several types of coverages that you can get under a general liability insurance plan including:
# Bodily injury: If someone comes to the business and slips and falls, then they may expect you to cover some of the costs of the medical bills. A nonprofit liability insurance policy will help pay for these expenses, along with settlement costs and attorney’s fees if they do take you to court.
# Property damage: It is possible that some property damage could occur with your nonprofit. This one will depend on the type of nonprofit that you have, but if something is damaged during one of your events or by someone who works with you, this kind of insurance is going to be a great way for you to get that damage covered along the way.
# Personal and advertising injury: It is possible that you could say something or print something in an advertisement or on social media without the proper permission. You could be sued for defamation when this happens, meaning you need to pay out a large settlement. While it is always best to be careful about what you do or say around others or online, it is good to have personal and advertising injury insurance to keep your business safe.
The right nonprofit liability insurance plan is there to keep your nonprofit safe. It will protect you in case someone or something gets hurt, making sure that you will not need to pay out a ton of money for legal and medical costs that are associated with it. Choosing the right nonprofit liability insurance is a smart move to keep your nonprofit safe.
Choosing the right type of insurance is important if you are a nonprofit company. This insurance will protect you if something goes wrong or someone is injured along the way, making sure that you can pay what is owed, without losing all of the business money and not having the ability to do the good work you promise. With the right nonprofit liability insurance in place, you can keep your nonprofit company protected along the way.
