There are over 2.8 million nonprofits in the U.S. This sector is consistently growing and changing, creating a tremendous opportunity. The number of new nonprofits continues to increase, and these new organizations are responding to the changing needs of the community. The recent pandemic caused an increased need for food banks, homeschool organizations and mental health and addiction crisis programs. Also, charitable giving and events continue to increase. Fundraising trends include nonprofits geared toward diversity and inclusion efforts, environmental and social justice concerns.
There are many misconceptions about nonprofits: the opportunity is too small, insurance is not needed, there are no funds to pay insurance premiums, or this segment is too confusing or difficult to find. These are all simply untrue.
Nonprofits are facing several new challenges:
- Nonprofits are no longer covered under their umbrella organization
- Leases, grants and contracts are requiring higher limits and additional coverages (abuse and molestation, errors and omissions and umbrella to address higher limits)
- Board members are understanding the need for directors and officers coverage
- It is becoming more difficult for nonprofits to find required limits and coverages due to carriers nonrenewing, restricting coverages and increasing rates and premium
How can USLI help?
- Accessibility: USLI has 30 underwriters available to discuss your nonprofit opportunity and help determine the best product and quote offering: call us at 888-SPD-USLI
- Comprehensive package quote: We can offer a package quote with broad and customizable coverage including property, general liability which can include abuse and molestation and professional errors and omissions, hired and non-owned auto, inland marine, crime and umbrella
- Admitted: Most products available on an admitted basis
- Broad coverage: Off-premises activities and events included
- New ventures and no prior coverage are eligible
- Renewals: We have a simplified renewal process and team that is focused on retaining the business
Recently Bound Policies:
Community Resource Center
- Premium: $1,224
- General liability, professional liability, abuse and molestation coverage, overnight trips exposure
- Quoted via Instant Phone Quote
- Quoted online via USLI-SNAP
Thrift Store
- Premium: $775
- General liability, professional liability, abuse and molestation coverage
- Named additional insured
Educational Trade Association
- Premium: $1,848
- General liability, business personal property, business income and extra expense, hired and non-owned auto, blanket additional insured, directors and officers with employment practices liability
- Quoted via Instant Phone Quote
Heritage Museum
- Premium: $614
- General liability, abuse and molestation coverage, named additional insured
- Quoted via Instant Phone Quote
