Insurance for Churches – What to consider

When taking out insurance for churches, there is so much to think about. In fact, insurance for churches includes pretty much all the same policies that other organizations need. Insurance companies offer insurance for churches that help churches at risk from fire, theft, robbery, violence, food poisoning, weather risks, workplace risks, professional negligence and pretty much any other risk that other organizations face.

When buying insurance for churches, always consider the financial stability of the insurer. The insurer has to be a stable and well established company. Pay more attention to insurers that have experience and expertise in offering coverage to organizations similar to your own, preferably insurance for churches. Investigate the potential insurer’s history in terms of settling claims. The quality of customer service is very important. Ensure that the product is worth the price. When buying insurance for churches, check that the extent of coverage is enough to meet your specific needs. Finally, the cost of insurance for churches should be proportional to the overall church budget.

Liability insurance makes sure that your church does not have to pay for damages to other persons, or other person’s property. Your clergy also need professional liability insurance in case they are sued for malpractice. Vehicles and other machinery and equipment also require insurance. This includes musical instruments and media equipment.

• The cost of Insurance for churches

The cost of insurance for churches depends on several factors. For one, churches should pay premiums that are proportional to the overall church budget. Obviously whether yours is a ‘small’ church or a ‘big’ church depends on several factors. If for example, your church a healthy population of members or more valuable equipment, fixtures and buildings not to mention vehicles, then the insurance should be expected to cost more.

Often churches end up paying more for insurance than they should because they are not business minded enough. Remember insurance for churches is a business and not a ministry. Church insurance companies do offer a valuable and indeed necessary service, but they are in it for business and as a clergyman you have the responsibility to try and get the best deal for your church. Always negotiate, always compare rates and definitely allow different insurance agents to make presentation. Insurance for churches should not go beyond what is reasonable and within the church budget.

• Here are some of the companies offering insurance for churches

1. Church Mutual Insurance Company provides insurance for churches against property loss, any professional liability, and other forms of coverage for churches among other institutions. Visit the website for resources.
2. According to their website, GuideOne Insurance has churches as its main niche customers. Besides churches, GuideOne insures schools and senior living homes. GuideOne insures churches in 51 states.
3. Southern Mutual Church Insurance Company offers insurance to thousands of churches in North Carolina, Tennessee, South Carolina, and Georgia.
4. UK based Ansvar specializes in insuring non profits in the UK.
5. Missouri-based Church Asset Management offers insurance for churches all over the United States.