Learning how to get non-profit insurance that matches your organization’s unique needs is easier if you approach it in small steps. Follow these five time-saving steps to get started.

  1. Do your research. When was the last time you bought something that required assembly and ignored the instructions? How did you know it was built correctly? It’s hard to know for sure unless you followed the steps. Getting the right small business insurance is no different. Learning about the types of non-profit insurance coverage is like reading the instructions. Although you may want to skip this step, as little as 20-30 minutes of research could save you time and money. You don’t have to become an expert, but a basic understanding of the coverages can help you make better decisions.
  2. Assess your business. Each organization has unique needs. Once you’re familiar with the basic commercial insurance coverages, you should investigate which ones best fit your business. For example, if your non-profit doesn’t have a physical location, you might want to carry out a basic general liability policy. However, one that owns property that customers visit would be better served by a more comprehensive business owners policy, often referred to as a BOP. Although they practice the same profession, the details of their operations vary and directly affect their insurance needs.
  3. Get a quote. Getting an accurate non-profit insurance quote shouldn’t be difficult, especially if you’ve finished the two previous steps. With Gannon Associates Insurance, we have licensed agents who work directly with you to get to know your organization and it’s unique needs. They’ll answer your questions and provide you with a quote that fits your budget from one of our top-quality carriers.
  4. Review and purchase. It’s ideal to fully understand your quote and review it for accuracy, even if you’re ready to purchase coverage immediately. Get a copy of your quote, and review it with your Gannon Associates Insurance agent. This quote review will allow you to better understand your policy. Make sure to ask any questions, they are there to help! Proof of insurance can typically be sent once you purchase coverage, and you can make changes to your policy throughout the policy period.
  5. Review at renewal. A lot can happen in a year. A quick reassessment of your organization at policy-renewal time will allow you to make any modifications necessary to match the current state of your business. Reasons for adjusting your insurance policy may include:
    • Acquisition or sale of commercial property. If you own commercial property, you should have property insurance, which is typically part of a BOP. You’ll want to investigate your options if you’ve acquired commercial property since your last policy update.
    • Hiring employees. All organizations who have employees need workers’ compensation coverage.
    • Increased business risk. You may consider increasing coverage as your organization grows or becomes involved in higher-risk projects.
    • Downsizing. Only pay for what you need. If your organization sold assets or eliminated employees, remove unnecessary coverage.

Learning how to get the right insurance for your non-profit isn’t as complicated as it might seem. Gannon Associates Insurance is here to help. We have carriers who offer specialized insurance coverages and agents who will work directly with you and take the time to get to know your organization and unique needs. Give us a call at 844-GANNONS or visit https://gannonassociates.com/insure-your-non-profit-today/ to get the conversation started today!