Property Insurance provides payments when the physical assets owned or leased by the organization are lost, damaged or destroyed by a covered cause of loss. It also can cover any associated loss of income and extra expenses caused by such damage. Property insurance for nonprofits is particularly important as damaged physical assets can put a serious drain on the finances of your organization. While a general liability coverage for nonprofits can go a long way, specific property insurance is important as well.

What’s Covered

Commonly referred to as “Fire” insurance, Property Insurance can protect against a wide array of “perils” including Fire, Windstorm, Vandalism, Theft, Water Damage / Flood, Earthquake and more.  The insurance covers Buildings, Personal Property / Leasehold Improvements, Computer Equipment, Fine Arts, Valuable Papers & Records Reproduction and much more.

When operations are interrupted due to a loss to the physical assets, the policy will “do for the organization what it would have done for itself had there been no loss” through Business Income and Extra Expense coverage.

Who’s Covered

The Named Insured, and any wholly owned or financially controlled subsidiaries, are the usually the direct recipients of payment under Property Insurance.  Landlords, Mortgagees (Lenders on Real Property), Loss Payees (Lenders on Personal Property) and Government Funding Sources are often listed on the policy when they have a insurable financial interest.

Value to the Client

No organization can operate with the uncertainty caused by risk to it’s assets and income.  Property Insurance transfers that risk from the organization to an insurer providing peace of mind.  Lenders and other Funding  Sources will demand proof there is insurance by the organization before loans, grants or other funds are pledged.

By helping to create a package of comprehensive risk management for nonprofits and for-profit human service organizations in a wealth of important areas, we have refined our experience and can offer your organization the best plans on the market. A large part of that package will be comprehensive property insurance for nonprofits.