What is Charity Insurance?
Charities might be committed to doing good, but those good intentions don’t make these organizations immune from risk. Massachusetts charities often face both liability and property perils. Without charity insurance, a single incident could have devastating consequences.
Charity insurance is a specialized form of commercial insurance that’s designed for charitable organizations. Although considered a type of “commercial” policy, this shouldn’t be interpreted as designed for for-profit companies. Commercial policies simply insure organizations rather than individuals (who purchase personal policies).
What Organizations in Massachusetts Need Nonprofit Insurance?
Most nonprofit charitable organizations can benefit from this form of nonprofit insurance. Protecting a Massachusetts organization against risk is important, and this tends to be the most appropriate form of coverage for charities.
Nonprofits that aren’t charities may need another type of insurance. They should consult with an insurance agent who specializes in nonprofit policies to determine what option is best for them.