Often, the exclusions will eliminate essential coverage for the services delivered by your organization. The agency can negate exclusions falling under the latter two categories by purchasing endorsements and other appropriate policies. Sometimes, one insurer may cover an exposure excluded by another insurance company. Compare the coverages offered by different companies. Third, select an agent or broker who understands your organization.
Brokers specializing in nonprofit organizations can be an invaluable asset.
You will spend your time wisely when checking the references provided by your prospective broker or agent. Fourth, require written proposals from any prospective insurers that include copies of the policy wording. Don't wait until you have selected a policy and carrier before inquiring about the availability of premium financing. Finally, consider putting your insurance program out to bid every three to five years. A Guide to Insurance for Non-Profits, Lai, Mary L., Chapman, Terry S., and Steinbeck, Elmer L., Consortium for Human Services, Inc., San Jose, 1992.