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Compare Business Insurance Quotes for Non-Profit Organizations

Regardless of having the right intentions, non-profits can still face expensive claims that need to be properly insured against. Get a non-profit insurance quote today for free.

What is non-profit insurance?

Non-profit insurance is a type of business insurance package designed to protect your organization financially from the unique risks of its day-to-day operations. Whether a child injures themselves at your charity event or a director mismanages donor funds, having the right non-profit insurance package can help pay for legal fees and compensatory damages. 

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What non-profit organizations need insurance?

Any non-profit (NPO) should consider purchasing business insurance to protect the organization from potential claims that could lead to financial trouble. 

This is especially important if your NPO: 

  • Works with third parties (e.g. volunteers, employees, the public) 
  • Own or rents office space
  • Hosts off-site events
  • Has a board or advisory committee

Below are some examples of non-profit organizations that could benefit from a business insurance package:

  • Associations
  • Charities
  • Community centres
  • Community services
  • Foundations
  • Societies
  • Research institutions 

Examples of non-profit insurance claims

  • D&O liability

    Your board of directors are named in a lawsuit for mismanaging government funds.

  • Bodily injury

    At a charity fundraising event, a donor slips on your stairs and injures themselves.

  • Professional liability

    A participant suffers injuries in a senior fitness class under the direction of your instructor.

Common types of non-profit business insurance coverage

General liability insurance

Professional liability insurance (E&O)

Commercial property insurance (contents insurance)

Directors and officers liability insurance (D&O)

Optional types of non-profit insurance coverage

Cybersecurity liability insurance

Crime insurance

Event liability insurance

How much does non-profit insurance cost?

The cost of non-profit insurance depends on many factors but expect to pay between $500-$1,000 per year. Get a non-profit insurance quote to find out how much it may cost you.

Factors that influence your non-profit insurance quote

  1. 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.

  2. 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.

  3. 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.

  4. 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.

  5. 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.

  6. 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.

Frequently asked non-profit insurance questions

Does non-profit insurance cover claims involving volunteers?

What are some non-profit directors and officers insurance claims examples?

How do I get non-profit insurance in Canada?

Author Bio

Matt Hands, Business Director of Insurance

Matt started his professional career at CARPROOF where he honed his marketing and analytical skills for over 3 years. Matt then took his wealth of experience to Ratehub.ca’s Toronto offices, working with insurance providers, agents, and brokers to grow and expand the Insurance business unit. He is a thought leader in the community and a valuable insurance resource to respected publications like the Globe & Mail, Toronto Star, Huffington Post, Yahoo News, and 680 news radio in Toronto.

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