Nonprofit Insurance

This page outlines the importance of insurance and lists the best places where nonprofits can get insurance plans to meet their needs.

Insurance is crucial for nonprofits to protect their assets, staff, and volunteers and sustain their mission. Nonprofits Insurance Alliance (NIA) is the best insurance carrier for nonprofits. They are a nonprofit themselves and offer tailored insurance since it exclusively insures 501(c)3 organizations. It supports its nonprofit members' missions by providing affordable premiums and comprehensive plans.

Coverage Options (ballpark estimates, true cost will vary)

• General Liability Insurance: The most common type of insurance for nonprofits. At $650/year, it covers property damage and bodily injury.

• Directors and Officers Insurance: Another very common insurance plan for nonprofits. For $600/year, it protects against board decisions or contract disputes, ensuring all parties get defended and paid.

• Non-Owned Auto Policy: Priced at $300/year, it handles major auto accidents, with the individual's auto policy responding first.

• Volunteer Accident Policy: At $100/year, it provides healthcare coverage to volunteers for worker's compensation claims.

• Professional Services: Costing $1000/year, it varies drastically based on services offered by the nonprofit.

Engaging a knowledgeable broker like Paul Waters at NFP ([email protected]) ensures nonprofits find suitable coverage. If you want more information or just want to chat about options, contact Paul.