Protect your religious organization from unforeseen events, such as a lawsuit or property damage, with religious organization insurance. Designed to protect religious organizations from financial losses, religious organization insurance is ideal for churches, mosques, synagogues, temples, and more. Continue reading to learn more about religious organization insurance, including why you might need it and the best coverage types for you.
The benefits of religious organization insurance
Religious organization insurance is important for all kinds of faith-based organizations. This is because of the protection it offers. Religious organization insurance can safeguard your ministry against financial losses relating to damaged property, lawsuits, theft, and much more. Given how many services religious organizations provide, from worship services and events to community programs for people of all ages, there are many risks. Plus, religious organizations often operate out of buildings of great value, like churches, mosques, and synagogues, which is yet another reason that religious organizations’ insurance is of the utmost importance.
Customized religious organization insurance coverage
Each religious organization is different and therefore has its own unique insurance needs. As such, not all religious organization insurance policies look the same. That said, it is generally recommended that religious organizations purchase policies that feature the following coverages:
- Commercial general liability insurance: Commercial general liability insurance, also known as slip and fall insurance, protects your religious organization from claims of third-party bodily injury and property damage. If a third-party claim is brought against your religious organization, your insurer may cover the cost of the lawsuit and any necessary medical expenses, repairs, etc.
- Commercial property insurance: Commercial property insurance aims to protect your religious organization and its business-related contents, such as furniture, musical instruments, or audio systems, from damage caused by an insured peril. Windstorms, fire, theft, water damage, and vandalism are just a few examples of covered losses that your religious organization insurance policy may include.
- Directors & officers liability insurance: If your religious organization is a registered non-profit with a board of directors, you may wish to purchase directors & officers liability insurance. This coverage option can cover the cost of a lawsuit if any of your board members are sued.
- Abuse liability insurance: Abuse liability insurance can protect your religious organization from the cost of a lawsuit alleging abuse or misconduct. With this type of coverage, your insurance company will cover legal fees, including defence costs and settlements or judgments. Abuse liability insurance may be especially important if your religious organization runs children’s camps or events, or has a children’s daycare on-site.
- Professional liability insurance: If your religious organization offers advice or counselling-related services to others, you may be more at risk. Professional liability insurance can help mitigate this risk by providing financial protection if a third party files a lawsuit against your organization alleging negligence, misconduct, or failure to deliver a service as promised.
- Commercial auto insurance: Commercial auto insurance might be helpful if you use vehicles for business purposes, such as to transport members to and from services. Commercial auto coverage may include third-party liability coverage, comprehensive coverage, uninsured automobile coverage, accident benefits coverage, collision coverage, and more.
- Umbrella liability insurance: Umbrella liability insurance takes effect when regular liability limits are reached, meaning it can protect your religious organization against unforeseen or catastrophic events.
Factors impacting the cost of religious organizations insurance
Insurance companies consider a multitude of factors when determining religious organization insurance rates. However, you can generally expect the following factors to come into play when calculating your premium:
- The location and size of your religious organization
- Your insurance claims history
- Your policy coverages, limits, and deductibles
- Other uses for your religious organization’s location, e.g. an event venue (if applicable)
- The annual and projected revenue of your religious organization
- How frequently does your religious organization hosts services and how many people attend these services
How can I buy religious organization insurance?
Thanks to ALIGNED, purchasing religious organization insurance couldn’t be easier. Though it can be purchased directly through an insurance provider, the easiest, most convenient way of buying religious organizations insurance is via an insurance brokerage like ALIGNED. Insurance brokers do all the work for you, shopping around on your behalf and unlocking discounts to ensure you get the best coverage at the most competitive rate. Learn more about the benefits of working with an insurance broker and how you can buy religious organizations insurance by calling ALIGNED today.
Does hosting community events at a church impact its insurance?
This depends on your insurance provider. Some community events hosted at your church will be covered under the commercial general liability portion of your policy. However, if your church can be rented out to non-members for events such as weddings, your insurance provider may not cover you for damages that occur at such events. Be sure to speak with an ALIGNED broker about your coverage.
Key considerations before purchasing religious organizations insurance
- Coverage: It is up to each religious organization to decide what coverage they want to include with their insurance policies. Before making this decision, you will need to assess your organization’s risk level. Commercial general liability insurance and commercial property insurance are fairly standard for most religious organizations insurance policies. However, you will need to consider whether additional insurance coverage, such as commercial auto insurance or abuse liability insurance, is worthwhile.
- Cost: The second consideration when purchasing religious organizations insurance is the cost. The cost of insurance is one of the most important factors for religious organizations. No one wants to spend more money on religious organizations insurance than they have to. If you’re looking for an affordable religious organizations insurance policy, ALIGNED can help. We shop around on your behalf to find you the best coverage at a competitive rate. You can also contact us to learn more about the cost of religious organizations insurance or to request a quote.
- Insurance broker vs. insurance company: Lastly, before buying religious organizations insurance, you will need to decide whether you want to purchase it via an insurance company or a broker. There are benefits to both, but working with an insurance broker is often the best way to ensure you are getting a great rate for your policy since we compare quotes on your behalf.
ALIGN your religious organization with quality insurance
Are you ready to find the right coverage for your religious organization? Contact ALIGNED today. From the moment you contact us, we will work tirelessly to find a great policy at a competitive price. We will contact top insurance providers, obtain quotes, and compare policies, all in an effort to find a plan that meets your religious organization’s needs and budget. Get in touch today to learn more or click here for a free quote.