Insurance

One of the first things you will need to do after establishing your nonprofit organization is to obtain insurance coverage. Nonprofit organizations face a variety of risks, including liability for accidents, injuries, and property damage. To protect your organization from these risks, you will need to purchase insurance coverage that is tailored to the needs of nonprofit organizations. Some common types of insurance that nonprofit organizations may need include:

1. General Liability Insurance: This type of insurance provides coverage for accidents, injuries, and property damage that occur on your organization’s premises.
2. Directors and Officers Insurance: This type of insurance provides coverage for claims of mismanagement or negligence against your organization’s board members and officers.

Cost

• The cost of insurance coverage for nonprofit organizations can vary depending on the size and scope of the organization, as well as the types of insurance coverage that are needed. To get an accurate quote for insurance coverage for your organization, you should contact an insurance broker that specializes in providing insurance coverage to nonprofit organizations.

Resources

• CalNonprofits Insurance Services: A nonprofit insurance broker that specializes in providing insurance coverage to nonprofit organizations. They offer a variety of insurance products that are tailored to the needs of nonprofit organizations, including general liability insurance, directors and officers insurance, and other types of insurance coverage. You can learn more about their services and request a quote on their website.