What Are Some Insurance Considerations for Churches?
Navigating insurance for your church can be overwhelming, but it does not have to be. With knowledge and support, you can help ensure that your ministry is benefitting from appropriate protection and properly navigating risk.
To help protect your church, here are 3 important things to consider:
1 - You might need special coverage for your unique risks
Most people are aware of the importance of having property and casualty coverage for your church, which can help protect against a lot of risks. However, religious organizations often have additional exposures that fall outside of standard coverage. It is important to speak to your insurance agent or company to ensure you have coverages and products that reflect your church and its operations. Some special coverages may include:
• Boiler and machinery
• Terrorism
• Sexual misconduct
• Director and Officers liability/ Management liability
• Errors and Omissions
Taking steps to ensure you have proper coverage now can help lessen the chance of having a major liability in the future.
2 - Church insurers vs. insurance companies that cover churches
There are some substantial differences between insurers that specialize in church insurance and insurance companies that cover churches. When protecting what matters most, there can be many advantages to getting your coverage from an insurer that specializes in church insurance. These insurers uniquely understand how ministries operate and are focused on ensuring you have solutions and sometimes specialty products in place that address church-specific risks.
Insurers that cover churches can be different. These companies can provide coverage for your church, but they do not necessarily have a solid understanding of your operations and they may not offer coverages and limits that are specific to religious organizations. This can present disadvantages because certain things might not be appropriately covered or covered at all.
Many ministries opt to get their coverage from insurers that specialize in church insurance for these reasons and they appreciate carriers that are aligned with their mission. If you are able to secure this type of coverage, it is recommended.
3 - You should review your coverage often
There is peace of mind that is associated with having coverage in place for your church. However, it’s important to remember that your insurance should remain top of mind throughout the year because changing circumstances may prompt changes in coverage. Your coverage should reflect your ministry’s current operations. For example, if your church has added property or changed its offerings, this can affect your coverage. Additionally, reviewing your coverage often can help ensure you are benefitting from the most affordable rates and potentially offer savings for your church. Finally, recommendations for coverages can evolve. When you review your coverage frequently, you are able to see if your ministry can benefit from additional products or changing limits.
