What Kind of Insurance Does a Nonprofit Need?
Nonprofit insurance is a type of seguro de negocio that helps protect 501(c)(3) organizations from risks and claims that can come up during normal operations. Each nonprofit organization has unique needs, so they may need different types of coverage.
Many nonprofits start with a Business Owner’s Policy (BOP). It includes three essential coverages that can help protect your nonprofit organization, such as:
- General liability insurance to help cover claims that your nonprofit caused bodily injury or property damage.
- Commercial property insurance, which helps protect the owned or rented building, tools, equipment and inventory you use to operate your nonprofit. This is also known as business property coverage.
- Business income insurance to help replace lost income if you can’t operate your nonprofit due to covered property damage.
Your nonprofit organization may need additional coverage for more protection. This can include: