Nonprofit insurance offers flexible and affordable specialized coverages, including both property and liability protections. Massachusetts charities can customize policies to suit their
Most 501(c)3 nonprofit organizations in Massachusetts should have this insurance. Charitable organizations with other incorporated structures may also want this insurance.
For example, the following organizations often purchase nonprofit property insurance and/or nonprofit liability insurance:
Not carrying insurance can leave these and other organizations dangerously without protection against losses and lawsuits.
Both nonprofit liability insurance coverages and nonprofit property insurance coverages are usually available through these policies. The former typically protects situations where an organization could be responsible for harm or sued, while the latter typically protects against assets that an organization owns.
Some common nonprofit liability insurance protections are:
Some common nonprofit property insurance protections are:
There are still more coverages that nonprofit organizations have access to. An insurance agent who knows these policies well can help nonprofits decide exactly what coverages are right for them.
Liquor liability coverage is one of those other protections that nonprofits might purchase, and organizations aren’t always aware that they should carry it for events.
Liquor liability coverage normally provides protection against lawsuits that arise from alcohol-related incidents. Companies that sell or serve alcohol generally are required to carry the coverage, but so too should event shots in some cases.
Should someone become intoxicated and sustain an injury, cause a fight, or be in an auto accident on the way home, multiple parties may be sued. This could include event hosts if the intoxication occurred during a gathering of some sort.
Hence, nonprofits might want liquor liability coverage for events they sponsor or host, if alcohol is served. This includes both free and sold beverages.
An insurance agent who specializes in nonprofit policies will likely be able to help organizations get short-term liquor liability through event coverage.
Premiums for nonprofit policies tend to be fairly affordable, especially when compared to the potential cost of a claim. The customizable nature of policies makes it easy for organizations to adjust coverages as their needs and budget dictate.