Brandon, Florida Nonprofit Insurance
You may discover it to be more challenging than you first thought when learning how to insure your non-profit business. For many years, states had charitable immunity laws that provided complete protection to charitable organizations as a blanket from all liability. The charity’s purpose was to exist for the good of the community, and it’s assets were not intended for the recoupment of loss by any who may suffer injury as a result of an accident or otherwise unfortunate occurrence resulting from the non-profit entity, it’s agents or members.
As the years have passed, these non-profit and charitable organizations are being held legally and financially liable for their intentional wrongdoing or negligence. The responsibility extends even to include the actions and decisions of the officers, directors, employees, agents and even volunteers acting under the non-profit’s authority. This is referred to as tort liability.
A tort is a legal term describing a violation where one person causes damage, injury, or harm to another person. The violation may result from intentional actions, a breach of duty as in negligence, or due to a violation of statutes. The party that commits the tort is called the tortfeasor.
Informed nonprofits establish safety standards and insulate their organizations by maintaining liability insurance, and it is a result of tort liability risk, as well as exposure to great financial loss that the nonprofits are forced to protect themselves.
Our agents at Odiorne Insurance Agency can help you find the coverage you desire for your non profit insurance needs at a competitive rate.
Protecting your nonprofit with adequate insurance is important to realize, as the expense of even a single lawsuit could easily be devastating to the budget of most nonprofits.
Non Profit insurance types in Brandon, Florida
- General Liability Insurance – It can help cover the costs of bodily injury, property and advertising damage claims made against your business. Without this coverage, you may have to pay the cost of these claims with your own business and personal assets. In today’s litigious environment, don’t risk your business to the vulnerability of a potentially devastating financial loss resulting from a liability claim. (Workers Compensation Insurance is designed to offer protection for your employees in the event they are injured on the job).
- Property Insurance – A policy that may cover a business from a variety of damages including but not limited to; fires, theft, and natural disasters. It may cover the physical location of a business, including office equipment, furniture, fixtures, inventory, and other items that support daily operations. Business property insurance can also help repair or replace covered business items, such as computers, tools, and inventory and it may cover items which are damaged during weather events, accidents, or third-party actions, such as vandalism or civil unrest.
Some other types of insurance for nonprofits you might consider are:
- Directors & Officers
- Cyber Liability
- E & O Insurance
- Workers Compensation
- Special Events Insurance
- Comprehensive Auto
Whether your nonprofit is located here in Brandon or somewhere else in the state of Florida, Odiorne Insurance Agency can help you find the coverages that you desire.
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Speak with a licensed agent for additional information regarding these coverages or refer to your actual policy for specific coverages and limits. It’s important to learn what your policy coverages include and how different limits could potentially negatively effect your business risk and liabilities.
The information offered throughout our website is not legal advice or a substitute for consultative insurance purposes, it is for illustration and informational purposes only. For additional information regarding your specific insurance needs, please call and speak with one of our licensed insurance agents today. Our agents are ready to assist you in navigating your insurance options.