Category: Church Insurance
Cheap Church Insurance
With the economy still very weak and consumer confidence low as of September, 2010, many not for profit organizations are feeling the pinch. Usually in a tough economical climate folks will look to cut back their expenses and quite often the first hit is in charitable giving. Thus, a number of organizations are looking at how to reduce costs and overhead which spurs the search for cheap church insurance.
One insurance option that churches and other non-profits reconsider is in the area of their property and casualty insurance. With a soft market currently due to the economy many church insurance programs sold by different insurance carriers and brokers have seen reduced rates. This in turn obviously can lead to lower premiums.
Shopping the existing insurance can be extremely beneficial if the current insurance program has not been changed in more than three years. Often times carriers and or brokers can become complacent if there is not an active relationship with the church or the non-profit group.
By re-shopping and looking for cheaper church insurance things like deductibles and values can be assessed and considered for budgeting. Although looking for cheap church insurance can have it’s up sides it can also have it’s downsides if churches don’t carefully consider the coverage being offered in comparison to what they may currently have.
When working with a local insurance agent they can explain to you if the coverage they are proposing is “better” or “less” than the existing coverage. By determining this churches can then truly realize any savings to be had from a premium perspective and be confident that their coverage is correct.
Remember when looking for cheap church insurance there are direct writers such as Guide One and then there are non-direct writers like Philadelphia, Hanover, Bunker Hill and a number of others. By obtaining multiple quotes through a broker or shopping for cheap church insurance yourself, you can be assured that you will find the best price and be more familiar with the coverage your getting.
Insuring Stained Glass Windows
Insuring stained glass windows can be a bit tricky because depending on the carrier it may be covered under the Property policy or it may have to be scheduled on an Inland Marine policy. The first step is to figure out if it is under the property coverage or if it has been scheduled.
Whether the stained glass is under the Property or Scheduled on an Inland Marine policy you want to be absolute certain that the value is either correctly built into the Building Value or is scheduled for the right amount. This needs to take into consideration not only the cost of the glass but the special installation and making of the replacement stained windows.
Also, it is very important to know what type of coverage is there on the windows. Is it covered for wind damage, building movement, vandalism and so on. This is definitely something that needs to be discussed with your insurance agent as there are too many variables in insurance to just assume.
So if your church has stained glass windows be very careful in choosing an agent that will visit your location and discuss in detail the best strategy to cover your risks.
Church Risk Insurance
Church Risk Insurance is unique to the insurance industry because of diversity of activities that go on. These activities can include although not limited to; weekly church meetings, mid-week services, youth groups, children’s ministries, day-care, nurseries, mission trips both domestic and foreign, food pantry, clothe closet, garage sales, counseling, treatment centers, employees, volunteers, parishioners, community outreach and events, bus ministries, vehicles owned and non-owned and many other risks.
Covering such risks take time and patience to competently recognize and analyze to afford the correct coverage types. By taking the time to examine all the functions and scope of the church life, churches can avoid some painful insurance disappointments. Unfortunately too many churches make costly assumptions that their basic General Liability Insurance addresses all of these risks, however, it does not.
By carefully considering all the activities and functions that a church may engage in, any competent insurance professional can apply insurance and risk management principles to address the risks and concerns that faces the church. Although Church Insurance Risks can be somewhat diverse and complex there are the necessary policies available. Quite often there are niche programs that can be tailored to specifically offer broad coverage types while keeping premium dollars down.
With many of these programs it is extremely important to understand the triggers for coverage and how the insurance would respond in different scenarios. It’s possible to think that because you may have a Church Insurance Program that your completely covered, however many programs are completely different in regards to limits, coverage, defense costs, umbrellas and the list could go on. So although a program may be good it still requires complete understanding to make sure the program addresses the uniqueness of each individual church.
With this said relevant insurance is always cheaper than “passive retention” in any and every scenario after a loss!
Church Insurance Agents
Church Insurance is a specific type of risk that requires more than just a GL and Property coverage. In fact there are many types of risks that can leave a church at risk for litigation from premises accidents, auto accidents, counseling, youth group activities, nursery, daycare, and so the list goes on.
The common assumption is that a basic General Liability policy in conjunction with a Property policy addresses all of these exposures when in fact they don’t even come close. For many of the issues spoken of there are specific coverages that protect a church from these risks.
For these reasons it is very important to work with an Insurance Agent who meets with you at your location to observe and note what exposures the church may have. After many questions that explore the scope of ministry and risks, only then can a church feel confident that all is done to properly cover the relevant risks.
Typically a meeting can take up to two hours or more depending on the size and scope of ministry. Factors that come into play are; the amount of locations, construction, year built, updates, losses, claims, vehicles, attendance, weekly ministries, day care and nursery, youth group activities, mission trips, counseling, leasing the church out for special occasions, boards, private school, hiring/firing practices, safety measures and protocols, disciplinary actions, revenue, community services, food pantry, clothing closet, camps, stained glass, pipe organs, pools and the list could go on.
By having a close relationship with your agent and visiting at least once a year, changes in risks and exposures and values can be discussed and adjusted accordingly. For this reason it is essential to have a local agent that can be proactive in addressing coverage and be involved in the insurance process with a hands on approach. Rarely is it ever advantageous if ever to have an agent that you just call up and give a bit of information to and hope they get it right. The reason is simply because most people don’t study insurance and aren’t familiar with all of the terminology, coverage issues and strategies needed to adequately communicate it to a person on the other end of a phone line.
If your agent hasn’t been out to your location in the last ten months it may be time to look for a new agent and or broker. An agent that doesn’t take the time to look out for your risks is not an agent worth keeping when there are many good insurance agents available and willing to do their job with integrity, professionally and competitively. So, be sure to check your relationship and coverage each year to ensure that your getting the best available when it comes to coverage, pricing and service.
