How Do You Insure Your Non-Profit?

Every non-profit is unique. Whether you work with vulnerable populations, rely on volunteers, put on fundraising events, transport the elderly, employ social workers, or other activities, your insurance needs are very specific to your operations.

Non-profit insurance is business insurance designed to accommodate the needs of a not-for-profit organization. Having business insurance for non-profit organizations can be crucial as it can protect against a variety of risks, from car accidents involving business vehicles to a client’s slip and fall in the office.

What Types of Insurance Policies Do Nonprofit Organizations Need?

There’s no master list of the types of insurance policies that non-profit organizations should purchase or what amounts of coverage they should buy. Instead, non-profits must rely on the expertise of local, licensed, experienced insurance agents to help them find the best insurance policies for their needs.

Following is a short list of some of the more common types of policies about which non-profit organizations should ask their insurance agents. They may need fewer policies and they may need different policies to cover different types of exposures and risks.

General Liability

All non-profit organizations should purchase general liability insurance. It covers against claims made by third parties for bodily injury and property damage that occurs in the course of the non-profit’s operations.

Property Insurance

Property insurance covers damage or loss to buildings, office equipment, inventory and any other property the non-profit owns. Fire and theft are common claims. Boards should be aware that not all insurance policies cover against floods and earthquakes.

Auto Insurance

Non-profits may buy auto insurance if their boards or employees use autos for non-profit business. You may purchase liability coverage to cover others and physical damage coverage for owned autos. Non-profits may also consider non-owned auto insurance coverage for volunteers who use their own vehicles for non-profit volunteering. Read more on non-owned auto policies here.

Workers’ Compensation

Workers’ compensation will provide coverage for payrolled employees who get injured on the job. This type of insurance is mandatory in California. This coverage will provide for medical expenses and wages if an employee gets injured while working for the nonprofit.

Directors and Officers Liability

This is another type of insurance that non-profits should not be without. It provides coverage for management decisions that board directors and officers make. D&O insurance protects the organization and individual board members. D&O insurance policies sometimes include insurance coverage for employment practices liability, which extends to volunteers as well as employees. This coverage protects against claims for harassment, discrimination and wrongful termination. Always consult with your local independent insurance agent to be certain of your exact coverage.

Professional Liability

Depending on it’s operational classification, a non-profit may have a professional liability exposure. Professional liability insurance is also referred to as errors and omissions insurance. Always consult with your local independent insurance agent to be certain of your exact coverage.

 

Questions? Want to learn more? Here’s 4 easy ways to reach us:

Phone: 877-994-6787
Email: insure@siaonline.com
Text: 951-482-8144
Web: www.siaonline.com

PS Here’s a few words from one Non-Profit Organization that trusts Stromsoe Insurance Agency:

“We are so pleased with your organization; it makes our job so much easier to have people like all of you to work with. I recently shared this with another local business owner, we praise you guys to the hilt”
Dorcas Shaktmas – Assistance League of Temecula Valley – Temecula, CA – Client Since 2012

PPS Every policy is backed by our iron clad, 100% complete satisfaction guarantee. Ask for your copy today!

Essential Car Insurance | Cracked Windshield

Car Insurance Scenario

You’re driving along the highway when you get stuck behind a big rig. You get closer, looking to pass, but the big rig kicks a rock at your car, cracking the windshield. What should you do about a cracked windshield?

How Much Does it Cost to Fix a Cracked Windshield?

In most cases, assuming you have comprehensive coverage on your auto policy, your claim payment will be subject to your deductible. However, if you do not carry comprehensive coverage, you will be paying out-of-pocket for your windshield.

A small crack can be repaired, even without insurance. However, windshield replacement, especially if you are cruising in a high-end car, can be pricey.

According to Safelite, repairing one small crack on a hypothetical 2016 Toyota Camry will set you back roughly $110. On the other hand, entire windshield replacement can cost $410. Repairing a windshield on a high-end car can easily push the price into the thousands.

Your Insurance Coverage

Windshield replacement or repair would be covered by comprehensive auto insurance. It’s important to get a crack repaired, before it spreads across the windshield.

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Should You File a Claim?

There often isn’t a downside to making a claim for a windshield replacement. You’ll get a new windshield, many times for the cost of your deductible and in numerous cases your premium won’t be affected come renewal time. If you have questions, you can always talk to your experienced, local independent insurance agent to see what is right for your situation.

 

First in the series: Essential Car Insurance | Bumper Damage
Previously in this series: Essential Car Insurance | Deep Paint Scratches
Next in this series: Essential Car Insurance | Suspension Damage

 

Questions? Want to learn more? Here’s 4 easy ways to reach us:

Phone: 877-994-6787
Email: insure@siaonline.com
Text: 951-482-8144
Web: www.siaonline.com

PS Here’s a few words from one client that trusts Stromsoe Insurance Agency:

“10/10 I was very pleased with my experience. Bobby was amazingly helpful and so nice. I believe he found me a great deal for my car insurance. It was so quick and easy! I really appreciate the kindness i felt over the phone! Thank you for making what could have been a stressful situation so simple and not stressful at all!”
Megan Switzer – Murrieta, CA – Client Since 2020

PPS Every policy is backed by our iron clad, 100% complete satisfaction guarantee. Ask for your copy today!

Umbrella Insurance & Underlying Liability Limits

Ultimately at the end of the day, we want you to be protected by insurance, in the form of Umbrella Insurance. We want to make sure everything you’ve worked so hard for over the years, is protected in the event something happens, like a lawsuit.

So let’s talk about that for just a minute because in this segment, I want to share with you what happens if there’s a large liability situation that may turn into a claim against you and your entity or entities and might threaten your assets in any way. That’s why people have Umbrella coverage to protect everything they work so hard for. However, for that claim to be paid, you must make sure that you have proper underlying limits of liability on the policies that are underneath the Umbrella.

If you don’t have proper underlying limits on your underlying policies beneath your Umbrella, the Umbrella will not pay, there will not be any coverage. We don’t want that for you ever, that’s why it’s also super important, when you’re thinking about adding an Umbrella policy, make sure that you put the auto insurance, the home insurance, the rental property insurance, the boat insurance, the RV insurance. If you have all those things, all with the same local independent insurance agent and then put the Umbrella on top of it with the same agent, you’ve got to have somebody there to manage, to lead, to consistently inspect and re-inspect with you as part of proper management for your entire insurance program.

If a claim does arise, regarding anything concerning liability attached to your estate or your business operations, we want to make sure that you’re properly covered, so your underlying limits are critical.

Now here’s the other thing that I want to let you know about. God forbid something happens and you received that lawsuit. Whatever you do, do not talk to anybody except your trusted agent and a representative from the insurance company, nobody else. And don’t let anybody know that you have an Umbrella, because that’s just more for them to attach and go after, you only share that with your loved one, your spouse or significant other, or your trusted people. That’s it, right?

We hope this helps you, if you ever have any questions about any facet of your Umbrella Protection Program, please let us know, we’re here to help.

Keep Reading Here:

 

Questions? Want to learn more? Here’s 4 easy ways to reach us:

Phone: 951-600-5751
Email: insure@siaonline.com
Text: 951-482-8144
Web: www.siaonline.com

PS Here’s a few words from one client that trusts Stromsoe Insurance Agency:
“We are extremely pleased with the prompt service we receive. I can call anytime, never placed on hold or had to wait for a return phone call. We are an older couple and at times do not understand the ins and out of really good coverage, so with [the team’s] help we feel comfortable with our home, cars and umbrella policies, I feel protected & safe!”
Phil & Mary Jean Marsh – Client since 2005

PPS Every policy is backed by our iron clad, 100% complete satisfaction guarantee. Ask for your copy today!

Non-Profit Spotlight: Menifee Valley Community Cupboard

Our community is full of incredible people and organizations out making a difference for others! In this month’s Non-Profit Spotlight we’d like to recognize the Menifee Valley Community Cupboard!

The Menifee Valley Community Cupboard (MVCupboard) grew out of a series of community meetings held by the county supervisor. They identified the need for food assistance to low income seniors and the children of the working poor who had limited access to food when school was out. The goals of this organization have always been to alleviate hunger and malnutrition in the community, and they have done that over the years.

MV Cupboard offers emergency food in the way of groceries, offered at no cost. Anyone who is experiencing food insecurity due to income or crisis may be eligible for this support. MVCupboard is not a soup kitchen nor a meals on wheels, but they do however deliver groceries to the home bound.

After an initial surge due to COVID, it was back to business as usual and the generosity of the community has allowed MVCupboard to meet demand without a reduction in the amount of food that they provide. They have transitioned to appointments and drive-thru distributions to protect clients, volunteers and staff.

For the month of June 2021 Stromsoe Insurance will donate $21 to Menifee Valley Community Cupboard, for every referral that comes to our team!

Learn More about The 2021 Vision Referral Rewards Program HERE…

 

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MVCupboard is hoping to hold their annual fundraiser “Celebrity Karaoke” on June 11, 2021 so long as retractions allow. You can visit their website to watch for announcements.

We asked Executive Director, Dawn Smith, what we can all do to support the non-profit, Menifee Valley Community Cupboard. Here was her answer:

Financial assistance is always welcome. We accept food donations as well as gently used saleable goods for our Thrift Shop which is our single largest source of funding.

Volunteer applications are welcome, shifts fill up quickly at both the Food Pantry and Thrift Shop so applications are kept on file until openings are available.

We accept applications on an ongoing basis to fill volunteer shifts when they become available. Anyone interested can go to our website www.mvcupboard.org or email us at endhunger@mvcupboard.org

The public may reach us at 951-301-4414 for any questions about applying for assistance or making donations. We are grateful for the support of our community that has allowed us to continue to serve those in need for 24 years.

If you would like to help support Assistance League of Temecula Valley, please engage with them via Facebook.

For the month of June 2021 Stromsoe Insurance will donate $21 to Menifee Valley Community Cupboard for every referral that comes to our team!

Learn More about The 2021 Vision Referral Rewards Program HERE…

Would you like to learn more about how we can help protect your non-profit , call your Stromsoe Insurance Total Protection Team at (951) 600-5751 or email insure@siaonline.com today!