Compare Business Insurance Quotes for Non-Profit Organizations

Type of non-profit

The type of non-profit you run plays an immense role in the cost of your insurance, as different organizations bring different levels of risk. The more likely your non-profit is to make a claim, the higher your insurance will be. For instance, if your charity runs public-wide events for fundraising every week, expect to pay a higher premium than a small-scale foundation.

Number of employees and operational size

The more staff you have on your team and the larger your operations, the more you’ll be paying for your non-profit business insurance. Having a larger organization increases your outreach, making your NPO more susceptible to a claim – any staff member can make a mistake, and any third-party your business encounters (e.g. volunteer, donor, client) can hold you liable.

Location

If your organization operates in a place that needs to be insured, such as an office or recreation center, the location will play a big role in the cost of your insurance. Non-profits situated in an area prone to crime or natural disasters (e.g. flood, earthquakes), will cost more to insure because of the increased risk of a claim.

Experience

Bringing more experience to your NPO’s industry can lower your insurance premium because it establishes your reliability to insurers. Having a decade of experience running a successful health organization shows insurers you know what you’re doing. On the other hand, if you’ve never planned a fundraising event or handled donation funds before, protecting your non-profit with insurance will be more expensive.

Revenue

Although your business may be not-for-profit, the amount of revenue you bring in still factors into your insurance premium. The higher your revenues, the higher your business insurance will be because third parties can ask for more in damages, knowing your NPO is well-off financially.

Business insurance history

Having a clean non-profit insurance history can show insurers you’re less likely to make a claim in the future, lowering your insurance premium. On the other hand, if your non-profit has been held liable several times (e.g. for giving harmful advice, for a director’s negligence), your cost for insurance will increase.