Non-Profit Insurance in Santa Barbara, CA

Nonprofit organizations can play a vital role in supporting their communities, but they also often face unique risks that can threaten their mission and operations. Even the most well-meaning and diligent nonprofits can suffer misfortune at the hands of accidents, natural disasters, criminals and other threats. Fortunately, suitable insurance can provide necessary financial relief.

Why Nonprofit Insurance Matters

Running a nonprofit comes with responsibilities that go beyond day-to-day operations. From managing volunteers and employees to hosting events and handling donations, these organizations are often exposed to a variety of risks. Without proper insurance, a single incident, such as a liability claim or accident, can have a significant impact on your nonprofit’s ability to serve the community and remain financially viable.

What Types of Insurance Do Nonprofits Need?

Nonprofits may encounter many risks and concerns, each potentially requiring different coverage. Fortunately, a well-crafted insurance package can, including the following types of policies, can help manage possible losses:

• General liability insurance for costs arising from third-party losses for which you’re at fault
• Directors and officers liability insurance to insulate against situations where board members or leadership are accused of mismanagement or making poor decisions
• Property damage insurance, such as if your nonprofit’s offices, electronics, equipment and supplies are damaged by covered perils
• Employment practices liability insurance should your organization face internal accusations of discrimination, harassment or other improper workplace practices
• Workers’ compensation insurance to fulfill legal obligations and offer financial aid following employees’ on-the-job injuries

Additional coverage may also be necessary depending on your nonprofit’s mission and operations. For example, if you require the use of vehicles, you’ll need commercial auto insurance. Alternatively, organizations working with sensitive information, such as Social Security numbers and health records, should prioritize cyber liability coverage.

Get Started With Holmes & Holmes Insurance Agency, Inc.

Financially protecting your nonprofit is essential to helping your work continue to make a difference. Contact Holmes & Holmes Insurance Agency, Inc. today to discuss your organization’s insurance needs and secure optimal coverage.