4 Things You Need to Know as a New Non-Profit

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As new a nonprofit, you’re probably jumping out of your seat to get started! You’re excited to show the community and individuals just what your organization could do for them. And while it’s great to be so passionate about your mission, vision, and motivation to help others, it’s also important to have your administrative tasks sorted out as well. Don’t let certain areas go overlooked. Like building a great insurance program; not only is this beneficial to the employees you’ll have but it will help you continue to grow your organization! There are some things to consider when shopping for insurance as a nonprofit.

Start ASAP
Having an insurance history from the early stages of your organization can help qualify you for coverages in the future and the best programs. It also helps you establish the cost into the annual budget. If you already know the cost of everything, it won’t come as a shock to you later down the line.

Budget Correctly
Speaking of budget!. We see time and time again cost expectations that are unrealistic. However, this can be solved by getting quotes! It’s important to budget correctly for the coverage that you need

Know your Risks
As a nonprofit, your exposures are unique to the nature of the work you do. These risks can be anything from data breaches and auto accidents to sexual and physical abuse in the workplace. Understanding your risks as a nonprofit can help you make the best decisions when it comes to choosing the correct insurance policy.

Prepare for Growth
A nonprofit at the end of the day is still a business and you’ll need to grow and scale along the way! Things like budgets, technology, and even insurance will require regular maintenance and will need to grow as your business does.

Have any questions about insurance solutions for your nonprofit? Visit, https://shields-insurance.com/home/commercial-small-business-insurance/insurance-nonprofits-churches/ or contact Shields Insurance Agency today at (205) 783-5893.

Resource: classy.org

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