SCHOOL
INSURANCE
WHAT IS
SCHOOL INSURANCE
Businesses face several risks in their day-to-day functioning, like property damage, losing important files, and employee or worker injuries. Schools, as businesses, encounter all of the above risks in addition to several unique situations, such as the possibility of student injuries, dangerous chemistry experiments, and even active shooters.
School Insurance Tailored To Your Needs
While potential threats continue to increase, there's no need to feel overwhelmed. There are different types of insurance coverages to cover the various types of schools, from private school insurance and religious school insurance to public school insurance and non-profit institution insurance.
Types of School Insurance Coverages
A good foundation for your school insurance is a proper package policy. Most educational institutions can benefit from a package policy because it helps protect your school, like your homeowners' insurance helps protect your house.
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In addition, a package combines multiple coverages into one policy, enabling you to save money while providing the protection you need. You can also create a school insurance coverage checklist; it's one of the best ways to ensure your institution is fully covered.
General Liability Insurance
to help protect your school from claims of bodily injury or property damage. This insurance also helps cover certain claims of slander and libel.
School Building Insurance helps cover your school's buildings, furniture, and equipment. Coverage applies whether your school owns or rents its property.
Business Income Insurance aids your school in recovering lost tuition income if you can't open because of covered property loss. Fire or storm damage is among the most common.
Private School Insurance
Having a Private School Insurance Policy is a good start to providing the coverage you need for your private school. You can also obtain the policy mentioned above as it covers most of the basics.
However, depending on your school's needs, there are additional coverages you can consider to create a more comprehensive insurance plan.
Student Accident Insurance:
There are many ways your students can end up in unexpected accidents while on campus. It makes sense then to obtain a student accident insurance policy to cover the medical expenses associated with accidental injuries; this is an expense that parents without health insurance would gladly welcome as it provides a safety net of coverage for them.
Educator's Professional
Liability Insurance:
Your students' parents can sue you or your staff for reasons such as negligent behavior. Educator's Professional Liability Insurance can help cover your legal costs to defend your school if someone sues you. This coverage, also known as errors and omissions insurance, is essential because your school can get sued even if it didn't make a mistake.
Employee Benefits Liability: Your school's success depends on your teachers and staff. The employee benefits you provide help keep them motivated, but errors in running your employee benefits program can mean costly lawsuits. Employee benefits liability coverage helps protect your school if you're sued for an error or omission in your employee benefits program. This coverage can help cover errors in administering your school's PTO policy, sick days, and group health insurance.
Backup of Sewers & Drains: Bathrooms, locker rooms, and kitchens in your school can all have drainage problems. If a drain backs up, causing water to spread throughout your school, Backup of Sewers & Drains coverage can help cover your clean-up costs.
Tenant Legal Liability:
Tenant legal liability insurance can help cover damages related to your landlord's claim that you caused damage to property you rent or another tenant's property.
Hired & Non-Owned Auto:
Most personal auto policies won't protect you if a hired or non-owned car, like a bus for a field trip, is in an accident while using it for school reasons. Instead, this coverage would help pay for the damage.
Workers' Compensation Insurance:
A teacher can trip over a bag while walking around thee classroom. Workers' compensation insurance gives your employees benefits if they are injured or sick due to a work-related injury or illness.
Business Auto Insurance:
If your educational facility uses personally owned vehicles for work purposes or has company vehicles, it's important to cover your vehicles.
Commercial Auto Insurance:
If damage is caused to your school's property, your landlord can sue you. Tenant legal liability insurance can help cover damages related to your landlord's claim that you caused damage to property you rent or another tenant's property.
Ready for a quote?
Reach out to us today to see how you can get personalized coverage that suits your school the best. Let’s get your insurance needs met at the best price points today!
Call our office today at 516.358.5600 or contact us online and an insurance professional will get back to you promptly.