Religious institutions have unique property and liability exposures that require tailored insurance coverage. Whether your religious institution is large or small or somewhere in between, we specialize in helping you obtain the right coverage for your institutions’s budget and exposure to risk. When reviewing your religious institution insurance package, the following main categories of insurance require thoughtful attention and consideration:
It is important to inventory all of the religious institution’s properties. Aside from the main institutions building, there may be a parsonage, a camp, or perhaps a cabin used for retreats. Whatever property the religious institution owns or leases must be valued and accounted for in your religious institution insurance property schedule. We are able to provide property quotes based on replacement value, actual cash value, or functional value and explain to you the pros and cons of each option. Religious institution property also includes contents, which are items not specifically attached to a building. One notable exception may be stained glass. The age, cachet, and/or value of particular stained glass windows/pieces may justify separate appraisals and individual schedules on your property policy. Other items that may warrant separate schedules are organs, pianos, or artwork.
A separate crime policy or endorsement to the property insurance must be purchased to obtain coverage for loss due to burglary, robbery, fraud, forgery, and/or employee dishonesty. Even religious institution’s are susceptible to crime loss.
General Liability Insurance:
All organizations, including religious institutions, need basic general liability insurance to address premises/operations liability. A routine slip and fall accident on the institution’s premise is a common example of a claim that would fall under the general liability part of your religious institution insurance. If your institution operates a school or daycare, it/they must be specifically added to the policy.
Sexual Abuse Coverage:
This is an additional coverage form designed specifically for religious institutions. Even though we recommend this coverage be added across-the-board to your religious institution insurance, we are aware that the legal climate is changing, in particular plaintiff trial strategies and verdicts. This is likely to impact the availability and terms of this coverage in the future.
Auto insurance, particularly auto liability insurance, is a must, even if the religious institution does not own or lease any vehicles.
Directors and Officers Liability (D&O) and/or Employment Practices Liability (EPL) Insurance:
A lot of activity goes on at religious institutions aside from people coming and going. For example, board members make decisions about budgets, money management, hiring and/or firing; committee members may be tasked with whether or not to approve expenditures from special funds. Claims arising out of these acts are excluded in the general liability part of religious institution insurance. It is important for religious institutions to realize that they are not immune from claims alleging wrongful acts. D&O Liability and/or EPL Liability Insurance address these exposures and include defense costs (subject to your deductible).
Pastoral Professional Liability Insurance:
Unless a separate policy or endorsement for Pastoral Professional Liability Insurance is purchased in addition to your religious institution insurance, there will be no coverage for any claim arising out of the professional acts, errors, or omissions of the pastor(s).
Richey-Barrett Insurance is your Trusted Choice Independent Insurance Agent for Ohio Religious Institution and Non-Profit Insurance for all kinds of religious institution, i.e. old, historic, new, modern, or a blend thereof. Contact us to obtain coverage options that address your religious institution’s specific situation.