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!

Make Insuring Your Restaurant Easy as Apple Pie

Chances are, if you serve any kind of food or drink, you need general liability insurance. Being in the food and beverage business can come with great risks. That’s why it’s important to protect your restaurant with the best kind of coverage.

Who Needs Specialized Restaurant Insurance?

  • Cafes/Coffee Shops
  • Fast Food Restaurants
  • Ice Cream Shops
  • Fine Dining Facilities
  • Full Service Restaurants
  • Caterers
  • Cafeterias
  • Pizza Shops

Why Is Restaurant Business Insurance So Important?

Insurance protects the restaurant business you’ve worked hard to build – and helps keep it moving forward. No matter how hard you try to make sure everything is perfect, problems happen. Insurance is there to help when they do. If you’re in the food and beverage business, its best to start with a business owner’s policy (BOP) or a business insurance package policy.

A BOP combines three general insurance coverages that are important to almost every business: General Liability, Commercial Property, and Business Income. Bundling your policies into a BOP is a great way to lower your rate over purchasing the policies separately. If you have employees, you’ll also be required to have Workers Compensation.

General Liability

General liability insurance provides protection in situations where you could be held liable for injury to other individuals or damage to their property. Commercial property insurance protects your business property from damage or loss. A BOP typically covers:

  • Damage to your business property
  • Customer injuries and property damage
  • Advertising injuries, such as slander

The general liability portion of a business owner’s policy protects against lawsuits related to customer injury or damage to a customer’s property that happened at your business. To be sure of what your policy covers, you should speak with your licensed, local, independent agent protection coach.

stromsoe-insurance-agency-blog-graphic-restaurant-insurance

Risks Associated with Serving Alcohol

If your food service business sells alcohol, you need to purchase liquor liability insurance, which can be added to a business owner’s policy. This coverage protects you in the event of customer injury or property damage caused by someone who consumed too much alcohol at your business.

Temporary Closure

An unexpected closure for restaurants and other food service businesses could result in devastating financial losses. For example, a restaurant may need to close after a fire until restoration is complete. Business interruption insurance shields against lost revenue and other expenses related to closure caused by a covered property loss.

Optional Food Spoilage and Contamination Coverage

Whether it’s caused by a malfunctioning refrigerator or a power outage, damage to your stored food can be a big blow to your business. Food spoilage coverage can help reimburse the cost of replacing spoiled frozen, refrigerated, or shelved perishables.

Food contaminated by a supplier or by improper handling may also need to be thrown away. Food contamination coverage helps with replacement costs, along with associated costs such as cleaning or advertising to restore your reputation. Food spoilage and contamination coverage can both be added to commercial property insurance.

Make Your Restaurant Insurance Work for You

Business owners can tailor their restaurant insurance program to meet their specific needs. In the food service industry, useful add-ons might include liquor liability insurance, business interruption insurance, cyber liability insurance, EPLI or other endorsements. You can also add coverage for risks like cars parked with a valet service or items left at a coat check. To fully understand your policy, speak with your licensed, local, independent agent protection coach.

 

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:

“Stromsoe Insurance Team is amazing, if every company that I worked with would operate like them, Los Angeles truly would be called city of angels.”
John Melkonyan – Crispy Crust Pizza – Client Since 2005

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

How to Prepare Your Business for Wildfires

California is no stranger to wildfires. According to the National Interagency Fire Center, wildfires in California destroyed 703 commercial/mixed residential structures in 2019 disrupting businesses and perhaps halting operations altogether. Whether it is burning embers, radiant heat or direct flame contact, it is important to be prepared for wildfires by taking measures to safeguard your business.

So, how can you prevent wildfire loss, what should you do during a wildfire and how can you protect your business’ assets if they are damaged or destroyed?

How to Prevent Wildfire Loss

The best way to keep your business safe from a wildfire loss is to take preventative action:

  • Clearing dead vegetation from roofs, gutters and decks.
  • Closing off all vents in attics and crawl spaces to keep burning embers from blowing into your structure.
  • Never parking commercial vehicles on dry vegetation and cleaning up any spilled gas or motor oil.
  • Removing any combustible materials from underneath decks and porches.

What to Do During a Wildfire

Business owners have a responsibility to ensure their property is ready for wildfires. In the event a wildfire does approach your business, protect it and your employees by:

  • Listening carefully to news alerts and public service announcements for air quality reports and wildfire updates on television, radio or smartphones.
  • Following your company wildfire response plan and holding practice drills to make sure your staff knows evacuation routes and safe places to go.
  • Propping a ladder on the side of the building to give firefighters access to the roof.
  • Turning on water hoses and filling containers with water.
  • Removing any combustible materials from the area surrounding the property.
  • Turning a light on in each room of the office for visibility in the event of smoke.
  • Closing all doors and windows, but not locking them.
  • Moving upholstered office furniture away from windows and sliding glass doors.
  • Turning off the air conditioning system.

Commercial Property Insurance and Wildfires

Every business owner faces a different set of challenges and risks when it comes to wildfires. That’s why Stromsoe Insurance Agency is here to find the coverage that is right for you. A commercial property insurance policy or business owners policy (BOP) can protect your assets, provide liability coverage and provides loss of business income coverage.

Looking for more wildfire resources?

 

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 trust Stromsoe Insurance Agency:
“When we lost our home in the fires I met Mr. Stromsoe at the Community Center. [Mike] made us feel so much better. He called [the insurance company] and set up an appt. for us to meet an agent that Monday. He was very helpful, warm & compassionate.”
Dee Jespersen – Client Since 2008

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