Having adequate insurance coverage for your church is more crucial than ever given the crazy, unpredictable world we live in. Inadequate coverage can expose your ministry to various liabilities and significant financial losses. Whether it be pastoral counseling coverage or worker’s compensation, all sorts of danger can arise without proper coverage. No need to fear- the United Methodist Insurance Program is here with Coverage Dos and Don’ts to obtain adequate insurance coverage your ministry!
Adequate Insurance Coverage: DON'TS
Underestimate Property Value: Churches often underestimate the value of their property and assets, leading to insufficient coverage. Make sure your policy reflects current replacement costs.
Neglect Liability Coverage: It is important to recognize that accidents happen! Proper liability coverage is essential for peace of mind. Ensure you have adequate coverage for potential lawsuits, medical expenses, and more.
Forget Specialized Needs: Your church has unique needs. Are you operating an on-site daycare? Tailor your policy to include all aspects of your ministry. Remember, the more comprehensive the coverage, the greater your peace of mind.
Adequate Insurance Coverage: DOS
Conduct Regular Assessments: Regularly assess your church’s property, assets, and activities to ensure your coverage remains up-to-date.
Understand Your Policy: Take the time to understand your insurance policy. Know what is covered, what isn’t, and the limits of your coverage. Don’t hesitate to ask your insurance provider or UMIP for clarification.
Consider Additional Coverage: Evaluate whether you need additional coverage options, such as crime, flood, or event insurance. These can provide extra protection against unforeseen risks.
Inadequate coverage can result in out-of-pocket expenses, legal fees, and even the loss of your church’s property. Investing in comprehensive coverage now can save your church from significant hardship in the future.
For personalized guidance or a review of your current policy, contact the United Methodist Insurance Program today! We’re here to help.
This content has been prepared by United Methodist Insurance Company (UMI) for informational purposes only. No article or document may accurately contemplate all possible scenarios or church resources. As such, this information is meant to foster discussion by the individual church and its members to develop a plan tailored to its own circumstances. UMI is providing this information with no warranties or guarantees of any kind and it should not be viewed as legal, financial, or other professional advice. All liability is expressly disclaimed. Any claim examples described herein are general in nature, may or may not be based on actual claims, and are for informational purposes only. Any coverage available for a claim is determined from the facts and circumstances of the claim as well as the terms and conditions of any applicable policy, including any exclusions or deductibles. In the event of a conflict with the content herein, the terms and conditions of any issued policy will control. Individual coverage may vary and may not be available in all states.
The commercial insurance coverages for United Methodist Insurance are sold and serviced directly or indirectly by Sovereign Insurance Agency (CA Lic. No. 0B01380) ("Sovereign") and underwritten by various available insurance markets. Sovereign pays United Methodist Insurance a royalty for the use of its intellectual property.
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