What do Clients Look for in Non Profit Insurance Companies?
In our previous blog post, “Understanding the Basics of Non-profit Insurance”, we stressed how your non profit clients have to meet the same legal standards of conduct that those applicable to their for-profit counterparts. Due to this, it’s important that they have the appropriate insurance coverages to financially protect them against any legal claims or wrongdoings. In order to appropriately target insurance to your non profit clients, it’s important to look at what characteristics that your clients actually look for in non profit insurance companies.
One of the most important factors your non profit clients will look as is that their insurance agent or company will understand their unique risks. Nonprofits and social services work in the heart of their communities, and bring together people, employees, clients, and benefactors from all over, making the potential for accidents and liabilities even greater than other business classes. A thorough risk assessment will help your client get a fuller picture of the policies they need to protect themselves from incurring devastating losses.
The next characteristic clients will look for in non profit insurance companies, is if they can trust their agent and company. Your clients are often very aware that top-rated insurance providers offer quick payouts, industry-specific products, and competitive rates. Your clients are busy with their charity work, so they need to know that they can rely on the expertise of their insurance agency.
Clients in the non profit sector are often tempted to go with the cheapest policies they can find, since they typically don’t have much money to spare. However, above that, they look at the coverage they will be receiving. Business insurance is a necessary expense and without the right coverage, your client may end of harming their organization more in the event of a liability claim. With that being said, it’s important to educate your client and let them know that even though one policy may be cheaper, it doesn’t necessarily mean that it’s better.
These are just a few of the features that your clients look for in non profit insurance companies. Understanding the basics of non-profit insurance policies is essential for your clients, as well as for you. At Charity First, we are committed to helping you place coverage for your nonprofit clients. Our mission is to provide coverages tailored to meet the unique needs of this market segment. Please contact us today to learn more at (800) 352-2761.