Commercial Insurance for Not-for-Profit Organizations
Rogers McLean Shaw takes special care of our not-for-profit clients to ensure that the coverage they receive will put them at ease so they may focus their attention on pursuing their goals of goodwill.
Since nonprofits have the same operational costs as a regular business but are often doing it on a much leaner budget, our team at Rogers McLean Shaw knows how important it is to make every dollar count while maximizing your coverage. We will work with you to develop cost-effective solutions so that you can focus on serving your clients and the community.
Do nonprofits need insurance?
Like any business, having proper insurance is essential to being able to operate your organization. While the work being done in your communities is greatly appreciated, unfortunately non-profit organizations are not immune to lawsuits due to injuries, allegations of negligence and property damage. They also aren’t immune to potentially losing assets to fires, floods and storms. The expenses and fees of these types of incidents can quickly pile up which puts your organization at risk. Luckily, our non-profit insurance brokers are here to help you.
What type of insurance do nonprofit organizations need?
The insurance needs of your organization will differ from others, but some key types of coverage include:
- Commercial General Liability – covers injuries and potential legal expenses caused by negligent acts by yourself or an employee.
- Commercial Property Insurance – protects your organizations physical assets that include owned buildings, equipment, tools, inventory, materials and more.
- Commercial Auto Insurance – it is mandatory for all vehicles in Alberta to have insurance. When being used for work purposes the coverage must include third-party liability, which helps cover your expenses if you or an employee is an accident that causes property damage or injuries to another person.
- Professional Liability – also known as errors and omissions – covers a mistake or negligent service that results in a third-party loss without property damage or bodily injury.
- Director and Officers Liability Insurance – protects your organization if it is faced with legal action for alleged wrongful acts that can include misrepresentation of finances, defamation and employee allegations.
- Event Liability Insurance – this protection can help cover damages or injuries caused by guests and employees at an event. It is often required by venues.
- Crime Insurance – this coverage isn’t usually part of a normal policy, and it protects you from crime that is related to running your business. It includes fraud, misrepresentation, theft and other crimes.
Interested in learning more? Contact our brokers who will provide more information and work with you to build a quote.
What factors most influence the cost of insurance for nonprofits in Edmonton?
The cost of insurance for nonprofits will depend on the types of coverages you need and the budget for your organization. Some key factors that affect the cost include:
- The type of work your nonprofit does and the size.
- Where you operate and where your sites are located.
- The cost of repairing or placing equipment, supplies, inventory and materials at the sites you operate.
- If your nonprofit owns vehicles how they are used and their year, make and model will impact your rates.
- If you have damage mitigation such as security alarms and sump pumps.
- Your organization’s insurance history.
Why trust Rogers McLean Shaw for not-for-profit insurance?
Rogers McLean Shaw has deep roots that go back over 65 years in Edmonton. As a proud supporter of our community, we understand your organizational challenges and needs. Our team of brokers will work with you to develop an insurance package tailored to your specific budget and work with you to help you fully understand your coverages and potential claims risks.
As a partner of the Rogers Insurance Group of Companies, we have numerous contacts within the industry to ensure you are getting a competitive price. Our nonprofit insurance brokers are here to advocate for you and be an insurance resource for you. Contact us today.