Insurance for Nonprofit Organizations in Waterford Township, MI

Nonprofit organizations often exist to serve communities, support causes and create meaningful impact. Yet even the most mission-driven nonprofits face real-world risks. As such, insurance should be considered a critical part of safeguarding a nonprofit’s finances and mission work, providing aid and enabling it to continue operating even when challenges arise.

What Is Nonprofit Insurance?

Nonprofit insurance refers to a collection of coverage options specifically tailored to the unique needs of charitable organizations, foundations, associations and other not-for-profit groups. While often similar to business insurance, nonprofit insurance can take into account the special roles these organizations play in their communities and provide tailored coverage.

A properly put together insurance portfolio can help protect against financial loss when accidents, lawsuits or unexpected events occur. Without it, a single claim or lawsuit could strain an organization’s resources or interrupt its ability to serve the community.

What Types of Insurance Do These Organizations Need?

Nonprofits face a wide range of exposures based on their size, activities, and outreach. Common types of coverage include:

• General liability insurance may cover losses and expenses arising from accidental injuries, property damage, or personal injury claims that may occur at events, offices, or program sites.
• Directors and officers (D&O) insurance can financially protect board members and leadership from claims related to decisions made in managing the organization, such as misuse of funds or governance disputes.
• Property insurance may assist with repair and replacement costs involving a nonprofit’s buildings, equipment, supplies and other physical assets against fire, theft or certain weather-related damage.
• Professional liability insurance, also known as errors and omissions insurance, can provide financial protection when a nonprofit is accused of providing incorrect guidance, services or support that results in other parties’ losses.
• Cyber liability insurance can help cover the costs of data breaches or cyberattacks, such as if the sensitive information of donors and other parties is compromised.
• Workers’ compensation insurance is typically required by law and can provide coverage for employee injuries on the job, including medical expenses and lost wages.
• Commercial auto insurance can provide financial aid if a nonprofit owns or uses vehicles that are involved in an accident or otherwise sustain damage.

Get the Right Coverage

Contact Willow Insurance Group today to discuss nonprofit insurance options and craft customized coverage.