Addressing the Property Exposures of Nonprofits
Whether a nonprofit owns or leases the premises it occupies, there are a number of considerations when securing Property insurance to protect an organization in the event of a fire, earthquake, vandalism, storm or similar event. The specialists at BMT Insurance Advisors will assist you in placing the coverage to properly cover the building (if owned), fixtures, equipment and machinery, office furniture, computers and accessories, inventory and supplies, and more.
Details Matter to Us
A complete evaluation of the property value will help ensure the policy covers the cost to replace the building and business personal property. Additionally, we’ll go over any coinsurance requirements in the Property policy to make sure the organization understands the impact of such a requirement or to secure a policy without a coinsurance penalty.
For real property improved with buildings, we’ll discuss including “building ordinance” coverage to cover the increased cost of construction that might result from building code changes that have occurred since the structure was built. Other risk exposures a nonprofit organization should consider includes insurance protection for Business Interruption and the Extra Expenses associated with such an interruption; loss of stored data, including personally identifiable information due to cyber-crime; and equipment breakdown.