We understand that running a charity or non-profit organisation follows the same overall structure as any business, with the result helping a cause or research based work. Either way, protecting your assets and your money is an essential part of day to day business and that’s why working with the UK’s leading business insurance policymakers, we have worked to build industry leading business insurance policies for charities and non-profit organisations.
Our experienced team of advisors based at our office in Andover are on hand to work with you, understand your individual requirements for cover, and then find you the best price. In your sector, every penny counts and that’s why we work around the clock to get the best discounts.
As a charity, you’ll be running on the money that you raise, and this is the life blood of your day to day operations. Without the money raised, you have no way of operating and it’s because of this you need to ensure you have an appropriate level of insurance including loss of income cover.
In an ideal world, we would hope that nobody would steal from a charity, but it does happen, and loss of income cover could protect your donations from any potential theft and losses by reimbursing them through your policy.
Another instance where loss of income cover is essential is in the event of a legal battle, and this could assist in contributing to the cost of legal and court fees or compensation claims.
Finally, you could extend your policy to include business interruption cover, which would reimburse you if a fundraising event had to be cancelled, a marathon for example.
There are core elements of any business insurance policy and these extend to charities and non-profit organisations. These cover the essential areas of business:
Public Liability Insurance - An essential part of running a non-profit organisation is working with the public – after all, isn’t this is who you are raising the money for? Whether it is going door-to-door, assisting at fun runs, marathons or visiting schools and hospitals, volunteers and charity workers always work with the public sector.
However, there is always a risk that any charity works you do in the public can cause damage to a third party. For example, if you are organising a fundraising dinner and someone gets food poisoning, or an object falls and injuries a guest, the charity will be held liable. So, having public liability means that you can claim effectively to cover any injuries to third parties.
Professional Indemnity - In the event that your charity is responsible for giving advice to people over their health, living arrangements or business, you need to be covered for any eventuality. Professional indemnity refers to giving expert advice and prepares you in case your guidance has any negative effects. Despite your best intentions for someone’s wellbeing, there is always a chance that your advice causes them to be in a worse position. By adding PI cover to your business insurance policy, it can pay for any damages and compensation to the recipient.
Employer’s Liability Insurance - Charities are likely to have employees and volunteers working in several different locations such as marathons, supermarkets and on the road. It is therefore important to have cover for all these members of staff who might suffer injury whilst carrying out their duties. If an employee is required to do heavy lifting or commute for several hours, there is a risk of injury or being involved in an accident. Companies are therefore obligated to purchase this type of cover known as employer’s liability insurance as it can pay for any medical bills and compensation.
Property & Vehicle Insurance - It is important for charities to cover their premises and any equipment they have in the office. This can be broken down in to two areas: buildings insurance and content insurance. The buildings aspect is for the physical infrastructure of the office and contents is for any stock, equipment or valuables held in the premises. Your cover can protect your office and its goods from theft, fire, flood and vandalism and means any fittings and items can be repaired and replaced by your insurer.
Some charities are well-known for their quirky vehicles. With some spending a lot of time on the road going to events and fundraising from door-to-door, it is compulsory to have at least third-party insurance for any bikes, vans or cars you use. If you have multiple vehicles, a fleet insurance policy could save you even more money.
For more information, you can read the Government’s guides on charities and insurance.
With many years of experience in providing insurance cover, we have worked with the following groups of charities and non-profit organisations:
Our team are on hand to assist with your quote and design a single policy with any number of the insurance elements noted above. This means you’ll be covered across every type of insurance you need, but all in one single policy. Easy to manage and of course much easier to renew due to the reduced admin.
You can give our team a call, get an online quote, or if now isn’t convenient, request a call back and the team will be in touch at a time to suit you.