Enscoe Long Specializes In Nonprofit Insurance – Part 2

Last week, the Enscoe Long team brought you information about liability insurance for nonprofits. This week we are focusing on nonprofit property insurance. So what’s the difference? Liability insurance and property insurance provide different types of coverage. Both types of policies are necessary to protect a nonprofit. For more on liability insurance for nonprofits, check out the previous post by clicking here.


Whether you own or rent the space, your nonprofit should probably contemplate what your organization might lose in the event of a natural disaster such as a hail, fire, earthquake, tornado, severe storm, etc. Also, will you be protected if someone breaks into your nonprofit and destroys or vandalizes your property? Property insurance, which covers such events, is designed to cover not only the building (if your organization owns it) but any:

  • fixtures (such as lighting systems or carpeting)
  • equipment and machinery
  • office furniture
  • computers and accessories (and)
  • inventory and supplies

Most basic policies will cover these items — but at what dollar amount? Let your Enscoe Long insurance agent help walk you through how to evaluate and report the dollar amounts associated with the contents of your nonprofit.

Tip 1: Remember that your nonprofit needs property insurance even if the organization doesn’t own its buildings. All the things inside those buildings are still vulnerable to unpredictable disasters. In fact, your lease  and/or rental agreement might require your organization to carry property insurance.

Tip 2: Make sure the policy covers the cost to replace the property, instead of paying its market value, as a “used good” immediately before the damage.

Tip 3: Ask your Enscoe Long agent to carefully explain your deductible (how much your organization will be “out of pocket” before the insurance kicks in) and what types of losses or property damage will not be covered under the policy. For example, flood insurance is usually sold separately. And your organization may have to pay extra to have theft coverage included.

Do you want to learn more about specialized insurance products for nonprofits? Click here.

Are you a ready to talk about your nonprofit property insurance needs with an Enscoe Long insurance broker? Get started by visiting www.enscoelong.com or drop us an email by clicking here.