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Tips for Nonprofit Insurance

Your non-profit will have insurance needs.  Often times, a non-profit is built around a deep passion, and that passion can sometimes overshadow the business decisions you need to be making.  We’re going to cover a few tips for your non-profit insurance needs.

Set your budget:

Newer non-profits can sometimes struggle with budgeting for the coverage needed.  Make sure you get a quote when planning your budget so you and your team can start to set reasonable expectations.  Costs and coverages are obviously dependent on the work you are doing.

Begin as early as possible:

General liability insurance for your officers is going to be a big majority of your budget.  By starting early the costs of insurance can become a normal part of your annual budget. There won’t be any “shock” value as premiums role in as you grow.  Also, by having coverage early, eventual coverage and policy limits can grow and expand as your organization grows. Qualify for better rates and programs by establishing a claim history and a payment history, too.

Best practices:

Insurance needs are great in that they make your organization ask tough questions you previously may have not thought of or even ignored.  It’s a great way to shed light on certain aspects of the business that need to be addressed.

Growth like a business:

Your non-profit is, in fact, a business.  To grow, it’s important to get your business processes properly.  Setting up the insurance is just as important as fundraising, office space, technology, accounting, and anything else.  All require attention and maintenance.


You have likely started your non-profit because you noticed a gap in society that you are wanting to fill.  However, all the enthusiasm in the universe won’t matter if you don’t focus on the basics of running your business.  Future growth will suffer, too.

Business insurance is necessary.  Prioritizing which coverages you really need and weighing the cost of premiums can be best achieved by working with an agency that specializes in your specific needs.  At Moyer & Moyer, we work with churches and nonprofits to protect their interest and help with vital business decisions. Call us today for a free consultation!

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