When a fire, theft, or another type of disaster strikes, your commercial property and everything within it can suffer a significant loss. This can have a detrimental effect on your organization.
Commercial property insurance can help protect the property your business owns and leases, including things like equipment, inventory, furniture, and fixtures. Whether you own your building or lease your workspace, commercial property insurance can be purchased separately or can be combined with other necessary coverage to protect your business’ physical assets.
Note: Actual policies must be consulted for specific terms and conditions.
Lawsuits can happen to anyone, and the damages can be hefty whether you win or lose. Even if you’ve done nothing wrong, you’ll need to defend yourself. So regardless of whether a contract requires it, without professional liability coverage, you could be putting your business’ future at risk.
Similar to directors and officers liability insurance, professional liability coverage protects against liabilities resulting from mismanagement of the organization, as well as workplace-related claims such as discrimination or sexual harassment. It covers not only directors and officers, but also staff, volunteers, and the non-profit organization itself.
Note: Actual policies must be consulted for specific terms and conditions.
Water on the floor, slippery entry in the winter, broken glass/hazardous debris, etc. These can all be accidents waiting to happen that make your non-profit susceptible. Claims may arise due to bodily injury, property damage, personal injury, and more.
General liability insurance is an absolute necessity for any business. It provides broad coverage when you are deemed responsible and liable, and will also pay to defend any covered lawsuit or action regardless of its merit.
Note: Actual policies must be consulted for specific terms and conditions.
What happens if a board member invests the non-profit's assets unwisely and loses everything? A creditor might sue the non-profit as well as its directors and officers. Non-profit organizations are not immune to lawsuits. It’s possible someone may disagree with the way you run the organization and file suit. Oftentimes, non-profits don't have deep pockets to fight these types of lawsuits, therefore putting the organization at risk.
Directors and officers liability insurance protects your directors, officers, trustees, employees, volunteers, and the entity from any act or alleged act, error, omission, misstatement, misleading statement, or breach of duty.
Note: Actual policies must be consulted for specific terms and conditions.
On average, it's estimated that three out of five businesses will be sued by their employees. Claims can stem from just about anything, such as someone taking a joke the wrong way and being offended. While there is nothing you can do to prevent someone from filing a lawsuit, there is something you can do to limit the costs of defending a legal claim.
The right coverage is critical to your risk management process as it protects against discrimination, wrongful termination, sexual harassment, and other employment-related allegations.
Note: Actual policies must be consulted for specific terms and conditions.
What would you do if an email virus impacted the operation of your database and prevented you from serving clients for a day or more? Or what if a hacker or cyber criminal caused a system outage or extended downtime, leaving your business inoperable? These and other events can destroy your ability to serve clients and bring in revenue, which can have a major long-term impact on the viability of your business.
Business income insurance compensates you for lost income if your company cannot operate as normal due to disaster-related damage that is covered under your commercial property insurance policy, such as a data breach or cyber attack. Business income insurance covers the revenue you would have earned, based on your financial records, had the disaster not occurred. The policy also covers operating expenses, like electricity, that continue even though business activities have come to a temporary halt.
Note: Actual policies must be consulted for specific terms and conditions.
If one of your employees receives an injury or becomes ill due to a work-related occurrence, you are required by law to have the proper coverage in place.
Workers' compensation protects your employees should a job-related injury or sickness occur during the course of employment. This coverage is required by law and may vary by area, so be sure that you understand your obligations for all physical locations where your business operates in and all physical locations where you hire your employees.
Note: Actual policies must be consulted for specific terms and conditions.
Marie had always been passionate about helping those in need. So she founded a non-profit organization that provided meals and clothing to people experiencing homelessness in her city. She recruited volunteers and started hosting regular events to raise money and awareness for her cause.
As her non-profit grew, so did the risks associated with running it. Potential liabilities could arise from volunteer injuries, property damage, and even cyberattacks. Marie knew she needed to protect her organization from these risks, but she needed to figure out where to start.
That’s when she learned about non-profit insurance. This type of insurance is designed specifically for non-profit organizations. It covers various risks and liabilities associated with running a non-profit, including general liability, cyber liability, volunteer accidents, etc.
Marie contacted an insurance agent specializing in non-profit insurance and worked with them to develop a customized insurance plan that suited her needs. She knew that having the proper protection would allow her to continue pursuing her passion for helping others without worrying about the potential risks.
One day, during a fundraising event, a volunteer accidentally spilled hot coffee on a guest, causing burns and a trip to the emergency room. Thankfully, Marie’s non-profit insurance covered the costs of the guest’s injuries and prevented any lawsuits from being filed.
Thanks to her foresight in getting non-profit insurance, Marie could continue pursuing her passion for helping others while knowing that her organization was protected from potential risks and liabilities. In addition, she knew that her non-profit insurance gave her the peace of mind she needed to continue making a positive impact in her community.
We’re an independent insurance agency offering a comprehensive suite of insurance solutions to protect you from the unexpected.
We don’t just sell insurance. We work closely with clients to help them make important and informed decisions every day when it comes to protection and their future.
We offer comprehensive insurance solutions throughout Texas, as well as surrounding areas including, Helotes, Schertz, New Braunfels, Cibolo and Bexar County.
At SOGO Insurance, we strive to provide a true, concierge client experience which is unique in the insurance industry. We give clients the power of choice from top-rated national and regional insurance carriers.
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