No matter the business that you are in, all companies require insurance related to their industry. This is no different for non-profit businesses. Even if your company’s sole purpose isn’t to earn a profit, there are still risks involved. If something happens or if someone files a claim against your non-profit, it could dip into the funds that you have. Here are some of the more common insurance policies for nonprofits.
Marine and General Insurance
If you ship cargo, own terminals or ships, then you need to start thinking about New York marine and general insurance. If you have offshore or onshore property, this is a crucial insurance policy.
Accidents happen. As a non-profit, you probably work closely with your community. If your customers or employees end up injured on your property for any reason, you are liable.
Commercial Auto Insurance
Personal auto insurance doesn’t usually cut it. If you rely on vehicles for transport, then odds are you are not going to be able to get away with personal insurance if there’s an accident.
Nonprofits need to keep their insurance needs in mind. Depending on industry, there are varieties of coverages that are important. Whether you need commercial auto insurance or New York marine and general insurance, there are policies available.