Protect your community centee from risk with community center insurance. ALIGNED can help find a customized and flexible insurance solution that meets your community center’s unique needs.
Why do community centers need insurance?
Community centers play an integral role in society, providing fitness programs, social support, space for events and more. But like any business or organization, operating a community center comes with risk. From theft and vandalism to an accident in your pool or event space leading to a lawsuit, community centers need to be financially protected. That’s where community center insurance comes in.
Popular insurance coverage for community centers
Community centers typically find it useful to include the following coverage with their policies:
- Commercial general liability insurance: Commercial general liability insurance, or slip and fall insurance, covers you from claims of third-party bodily injury or property damage. For example, if a child injures themselves during a sports game at your community center, you could be held liable. But with commercial general liability insurance, your insurance company may cover the cost of the lawsuit.
- Commercial property insurance: Commercial property insurance protects your community center and its business-related contents (e.g. computers, sporting equipment, etc.) from damage caused by an insured peril. Insured perils vary but may include fire, theft, water damage, windstorms, vandalism, and more.
- Cyber liability insurance: If your community center has an online reservation system where sensitive information is stored (such as financial or medical records), then it’s important to protect yourself against a potential hack. Cyber liability insurance offers financial protection in case of a cyberattack, breach, or hack. Under this portion of your policy, your insurance company might cover everything from legal fees to credit monitoring, customer notification, and more.
- Directors & officers liability insurance: If your community center is a registered non-profit with a board of directors, purchasing directors & officers liability insurance may come in handy. This coverage can pay for the cost of a lawsuit if any of your board members are sued for a decision they made regarding the community center that was in conflict with their fiduciary duties.
Calculating the cost of community center insurance
Wondering how much community center insurance costs? The short answer is that it varies. Many factors impact the cost of community center insurance, from the size and location of your community center to the activities and services offered. A list of factors that might determine the cost of your community center insurance policies is as follows:
- The size and location of your community center
- The activities and/or services offered by your community center
- The number of employees your community center employs
- Your insurance claims history
- Your years of experience
- The community center’s annual projected gross revenue
- The coverage types, policy limits, and policy deductibles you choose
ALIGN yourself with the right community center insurance
Contact ALIGNED today to learn more about how commercial insurance can safeguard your community center. You can also click here for a free quote.