Charity Insurance As A Backup Plan!
When you run a charity, there are tons of things that can go wrong. Running a charity itself is one of the most selfless things you can do for humanity; however, that does not mean it is as easy as it is beneficial. There can be tons of ups and downs, accidents, mishaps, issues, and legal difficulties when you run a non-profit organisation. In such a scenario, you must always have a backup plan in case things go south. So, if you run a charity, make sure you get insurance for it too!
What Is A Charity?
The charity itself covers tons of things under the law. You can run a charity to help the poor and needy, advancing arts, preserving heritage or science, or providing fundamental human rights to those who are deprived of it. The boundaries are limitless. All it has to do is work for the benefit of the broader public. Lastly, a charity can never use the money raised for their personal interests. It must be aimed towards their target, whether it is helping humans or animals, preserving heritage, or anything else!
What Is Charity Insurance?
Just like any other insurance, charity insurance protects you in case of any accidents or mishaps during the course of business of running the non-profit organisation. For instance, car insurance protects you from paying a considerable sum of money in case of an accident, or health insurance protects you from paying the hospital fees if you get seriously ill. The charity insurance works in a similar way. Many charities don't have the financial backing to take care of any lawsuit in case of an accident. So, charity insurance helps them out instead.
How Does It Help?
As mentioned earlier, things can go south really quick. Consider you are running a charity and everything is going reasonably well. Then one day, a volunteer at your charity gets injured, or a trustee at your charity gets accused of negligence. What do you do next? Your charity gets delivered with a lawsuit, and the reputation takes a hit as well. This is where charity insurance would come to your aid. It would back you up by helping you avoid the expenses, and protecting your reputation too!
You need to have charity insurance to protect yourself from the unexpected. You need to be shielded from claims brought by the public, workers, and even donors. Here are some of the issues you can face when you run a charity.
- A customer gets injured: Hypothetically speaking if a customer enters your charity and slips due to a slippery floor, and injures himself in such a way that he is unable to work for several weeks, he can bring in a claim against your charity to compensate for the loss suffered because you didn't take adequate precautionary measures. Here, the insurance will help you cover the costs to help you out!
- An employee or volunteer suffers problems. Again, if an employee or volunteer gets medical issues because you did not provide adequate safety equipment, or if you didn't ventilate or clean the area reasonably, they can bring a claim for negligence against your charity. Here, the insurance company will again come to your aid and offer you protection and save your reputation!
What Does A Charity Insurance Cover?
Some of you might wonder how adequate is charity insurance. Well, there are tons to cover under charity insurance. For instance, at Forum Insurance, we offer our clients plenty of options to choose when they are getting insurance for their non-profit organisation. This gives them a chance to customise the package according to their likes and dislikes thoroughly.
Here are a few different types of insurances that are covered under charity insurance.
- Employers' liability insurance.
- Trustee liability insurance.
- Public liability insurance.
- Cyber insurance.
- And many others!
Conclusively
In a nutshell, it is safe to say that charity insurance will always come to your aid when things go in an unexpected way. So, always keep a backup plan and have charity insurance to save you from any sort of difficulties. Also, if you need any more help, you can call one of the leading insurance brokers in all of the UK, Forum Insurance, and get the expert consultancy you deserve!
Recent Posts
