Schools can be a second home for the families they serve—protecting your place of learning is important. Having a specialized insurance policy in place for your school helps offer protection against the risks you face.
Schools need insurance for obvious things, such as the building, the desks, and the educational equipment. Beyond that, schools also need to insure their faculty and staff, their reputation, and their ability to continue to educate students. Business insurance isn’t one size fits all, and when it comes to educational facilities and schools, insuring them goes beyond traditional business policies. Here are some examples of what a specialized school insurance policy may cover:
There are many types of risks that are unique to schools, and therefore require coverage that’s designed to cover those risks. For example, if something should happen to the school’s building and classes cannot be held, an alternative location may need to be secured so learning can continue. School insurance coverage may provide coverage for managing these interruptions to get classes back up and running as quickly as possible.
Schools must also insure against claims of discrimination, harassment, wrongful termination, and negligence. A lawsuit against the school and its officers, directors, board members, and faculty can be very costly to defend, potentially taking away vital resources from the classrooms. With general liability, employment practice liability, and workers’ compensation insurance, risks associated with your staff may be covered further.
While it might be strange to think about, operating a school is similar to operating a business, and therefore many of the same types of coverage options will also apply to your school. Don’t forget other general business insurance elements such as workers’ compensation, crisis response, employee dishonesty, and cyber liability insurance. These coverages may help prepare your school for the unexpected and has the ability to do what it does best.
Are you looking for school insurance to help protect your education facility? Contact us to go over the risks of your school, your coverage needs, and the options available to you.