Not For Profit Insurance Cover
Charity insurance is designed to make life easier for your charity, community group, social enterprise or not-for-profit organisation.
Whether your charity or not-for-profit organisation is large or small; having the correct cover is essential.
Here at Birnbeck Insurance Brokers, we can build a policy for your organisation that is based directly on your charity’s needs and requirements, ensuring you are protected.
Speak with a member of the team today on 01934 522 252 and learn how Birnbeck Insurance can help assist your unique charity insurance requirements.
What Is Charity Insurance?
Charity insurance is pivotal for organisations, charities, clubs and communities of all sizes and with comprehensive insurance coverage, you can protect your employees, assets and organisation as a whole.
This type of insurance is crucial for protecting your organisation against a range of risks that could otherwise threaten its financial stability and operational capabilities.
Here at Birnbeck Insurance, we support you in finding a policy that efficiently covers you, providing you with peace of mind and confidence.
The Importance of Charity Insurance Cover
Insurance cover for charities and not-for-profits is not just a precaution, it is a necessity.
The correct insurance cover can safeguard against unforeseen events that might otherwise derail your mission and not-for-profit cause.
This insurance cover can include everything from public liability claims to property damage.
Ensuring that you have comprehensive charity insurance means that your organization can focus on its charitable goals without worrying about financial setbacks due to accidents, legal issues or other incidents.
Get in touch or call us on 01934 522 252 and learn how Birnbeck Insurance can help assist your unique charity insurance conditions.
What Type of Charity Insurance Do I Require?
Choosing the right type of charity insurance can be daunting, but understanding the various options available can help you make an informed decision protecting your not-for-profit business.
Here are the primary types of insurance covers typically chosen by charities:
Public Liability Insurance
Public liability insurance is crucial for any charity. It covers damages and defence costs relating to allegations of negligence against you or your employees following third-party injury or property damage.
This type of insurance is vital during events and activities that involve interaction with the public. For example, if someone trips and falls at a charity event you are hosting, public liability insurance will cover the costs associated with the claim.
Employers’ Liability Insurance
Employers’ liability insurance is a legal requirement if your charity has paid staff or volunteers. It protects your organization from costs and claims arising from employee or volunteer bodily injury or illness that occur as a result of their work for you. This cover ensures that your organization complies with legal requirements and provides financial protection against potential claims.
Property Insurance
Property insurance covers damage to the organization’s contents, buildings, or equipment due to causes such as theft, fire, flood or storm. This type of cover is essential for protecting the physical assets of your charity.
Whether you own or lease your premises, property insurance ensures that you can quickly recover from incidents that cause physical damage to your property.
Charity Professional Indemnity Insurance
Professional indemnity insurance protects your organization against claims made following allegations of negligent advice, errors, or omissions that result in third-party financial loss. This type of cover is particularly important for charities that provide advice or professional services as part of their mission. It ensures that your organization is protected against the financial repercussions of mistakes or misunderstandings.
Charity Trustee Indemnity Insurance
Trustee indemnity insurance offers financial protection for trustees, directors, governors, officers and committee members of charities, clubs, associations or not-for-profit organizations.
This cover protects against legal defence costs and damages awarded against one of your directors, trustees, or officers arising from a wrongful act by them in the course of their statutory duties.
It’s essential for safeguarding the personal assets of your trustees and ensuring they can perform their roles without fear of personal financial loss.
Additional Covers to Meet Individual Needs
Beyond the essential covers mentioned above, there are additional insurance products available to meet the diverse needs of charities. These include:
– Business Interruption Cover: Protects against loss of income if your organization cannot operate due to insured events such as property damage.
– Cyber Insurance: Covers risks associated with cyber attacks and data breaches, which are increasingly common in today’s digital age.
– Charity Event Insurance: Specific cover for events organized by your charity, protecting against cancellations, accidents, and other event-related risks.
Speak With Us About Charity Insurance Cover
Navigating the complexities of charity insurance can be challenging, but you don’t have to do it alone.
Speak with us about charity insurance cover to find the best solutions for your organization. Our friendly team is available to discuss your needs and provide expert support.
Please get in touch or call us on 01934 522 252 to see how we can help make the purchasing of insurance that bit easier. Whether you need guidance on the right cover or assistance with managing risk, we are here to help.
Frequently Asked Charity and Not-For-Profit Insurance Questions
Why do charities need insurance?
Similar to limited companies, charities have similar liabilities meaning that a charity or not-for-profit organisation can face legal action if someone gets injured on their premises or their property gets damaged due to work carried out by the charity.
Does a charity need employer liability insurance?
If your not-for-profit organisation has employees it means that you are legally required to have employers liability insurance? Therefore, even if your workforce is just one person other than you; you will require employers liability.
Does a charity need professional indemnity insurance?
If you are a charity that gives advice, holds data, deals with personal data or handle intellectual property; you will require professional indemnity insurance.
