Business Owner’s Policy
for Nonprofit Organizations

Nonprofit organizations and social service providers are always on the move. Whether spreading their message across communities, running food drives, or hosting fundraising events, their work demands equipment and headquarters to strategize, organize, and offer their services. But if an accident happens on your premises or if a fire destroys your equipment, your work could be put on hold until you can settle the lawsuits and replace your damaged assets.

To make sure your nonprofit or charitable organization doesn’t lose precious time or resources in case an accident or disaster occurs, a Business Owner’s Policy (BOP) may be your best line of defense. If your business is eligible for the policy, you receive General Liability Insurance and Property Insurance together, which provides funds for third-party liability claims and protects your assets against damage or loss. Contact an insureon agentto learn whether your business meets the criteria for this coverage.

BOP Protects

Business Owner’s Policy: Protecting Nonprofit and Social Service Providers

Business Owner’s Policies for nonprofits and social services offer peace of mind in times of loss and financial hardships. Through its bundled General Liability and Property Insurance policies, your BOP shields your business from expensive liability claims and the cost of replacing damaged, lost, or stolen business property. Plus, your BOP saves your business money thanks to its competitive discount price made possible by bundling.

If your business is ever sued for property damage or injury sustained by a third party (i.e. not you, your team, or your volunteers), the General Liability portion of your BOP provides legal funds and compensation. These funds cover attorney’s fees, court-ordered settlements or judgments, bond premiums, and more, depending on your policy limits. Even if your business is not at fault, the coverage still saves your company from paying out of pocket for an attorney and other court fees.

Your BOP’s Property Insurance protects your office space, computers, smartphones, office equipment, furnishings, and other assets you rely on to carry out your work against damage, theft, or loss. This coverage can extend to cover others’ property that your rent or that is in your care.

BOP Coverage

Social Services and Nonprofit Organizations: BOP Coverage

Give your nonprofit or charitable business the financial backing it needs to continue its mission and enrich lives in your community. Take a look at the coverages a Business Owner’s Policy your business so you can continue to grow your organization.

Protecting Nonprofits from Property Claims

If a fire, tornado, or burglary leaves your nonprofit in need of new equipment and a repaired office front, your BOP gives you the funds you need to get your business back in working condition. Most Property Insurance policies today offer insurance at the replacement value of your property, but some may still give you the choice of insuring at your property’s current value. Though this option may save you some money, opting to insure items at their replacement value ensures you do will have the coverage you need to buy new items in the event of a covered claim.

For nonprofit business that rent office or building space, this portion of your BOP can fulfill certain lease requirements that call for an insurance policy of some sort. That way, if disaster strikes, you can be quickly compensated for repairs and get back to serving your community.

General Liability Claims for Nonprofits & Social Services Businesses

Nonprofit organizations and social service businesses work closely with many people, which makes General Liability Insurance a necessary safeguard against liability risks. This portion of your BOP covers third party injuries on your premises and property damage caused by you or your team. For example, if your nonprofit hosts a rally to raise funds for its cause, and someone trips over the decorations and hits their head, they could sue your business for medical expenses. When that happens, your General Liability coverage steps in to cover the cost of attorney’s fees, settlements or judgments, medical expenses, and more.

The coverage also accounts for lawsuits over completed operations liability, contract liability, and advertising / personal injury liability. For professional mistakes, however, such as advice your counselor offered that ended in someone else’s injury or harm, you’ll need to purchase an Errors & Omissions (Professional Liability) policy for coverage.

Business Interruption Insurance for Nonprofits and Social Service Providers

Your Business Owner’s Policy can also include Business Interruption Insurance, which could compensate your business for up to 12 months of foregone income due to property damage or court battles. So if your nonprofit company must stay closed due to covered events, this protection allows you to pay the rent on your building, compensate your employees, and cover the utilities. To learn more about this coverage, talk to an insureon agent today.

Tailored Policies

Insurance Policies Tailored for Nonprofits and Social Service Providers

Let insureon’s expert agents outfit your nonprofit or social services business with reliable, comprehensive business insurance coverage. We make it easy to tailor policies to your business’s needs, accounting for the risks and demands of your line of work. Our agents can answer questions you have about your policy limits, terms, and deductibles to ensure your coverage addresses your concerns. To get started, complete our online application, and depending on your needs, we can send you competitive quotes in minutes.

Grab-n-Go Information

Nonprofit Risks eBook
Certainty in Uncertain Times - A Nonprofit’s Guide to Risk Management
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