Nonprofit Insurance for Credit Unions in Illinois

Learn more about our nonprofit insurance coverages for credit unions and get a quote from one of our knowledgeable independent agents. Providing coverage to credit unions across Illinois, Indiana, and other states.

What is nonprofit insurance?

The good work that not-for-profits do doesn’t insulate them from having bad things happen. From theft to accidents, there’s plenty that can go wrong. That’s why nonprofits in Illinois may want nonprofit insurance.

Nonprofit insurance offers tailored coverage for nonprofit organizations. Policies usually have a combination of liability and property coverages, allowing them to protect against multiple risks.

Which Illinois nonprofits need nonprofit liability insurance?

Most not-for-profit organizations in Illinois ought to consider nonprofit liability insurance. Almost any organization could be sued, regardless of what it does or how large it is. Property coverages are also broadly recommended for most assets that organizations have.

For example, policies that have nonprofit liability and property coverages are often used to insure:

• Religious organizations (churches, mosques, temples,)
• Children’s programs (preschools, summer camps, after-school programs)
• Cultural organizations (museums, theaters, cultural heritage organizations)
• Advocacy groups (social justice, environmental, other groups)
• Land conservation entities (land trusts, land management organizations)
• Charitable organizations (food pantries, affordable housing programs)
• Animal welfare groups (animal shelters, animal rescues)

Most other nonprofits could likely benefit from having a policy, too. This insurance is broadly recommended for the vast majority of 501(c)3 organizations.

What liability protections should nonprofit organizations look for?

Nonprofit liability insurance mainly offers protection in situations where a nonprofit caused another party harm, and thus might be sued. Which situations a policy protects against depends on its specific coverages, and there are several nonprofit liability coverages available:

• General Liability Coverage: Could cover “slip and fall” and other common accidents that result in a third party being injured or having their property damaged. Usually also includes defamation protection.
• Professional Liability Coverage: Could cover work-related errors when a nonprofit provides professional advice or services. Protection may extend to work that employees or volunteers do.
• Directors & Officers Liability Coverage: Could cover legal actions filed over decisions or actions of senior leadership. Protection may extend to lawsuits filed against an organization or individual leaders.
• Employment Practices Liability Coverage: Could cover discrimination claims made by volunteers or employees, and usually also other employment-related claims and lawsuits.
• Cyber Liability Coverage: Could cover website and server hacking, data breaches, ransomware, and other digital risks.
• Special Events Coverage: Could cover specific events hosted by a nonprofit, providing additional liability insurance protections for the duration of the event.
• Social Engineering Fraud Coverage: Could cover financial losses stemming from from fraudulent or deceptive misrepresentations.
• Umbrella Coverage: Could offer a second layer of liability protection for lawsuits that exceed the limits of another nonprofit liability insurance coverage.

An insurance agent who understands nonprofit liability insurance can help organizations determine which of these they should carry.

What property insurance protections should nonprofits look for?

Which property insurance protections a nonprofit gets depends on what the nonprofit owns. Some protections that might be important are:

• Commercial Building Coverage: Often protects any buildings that a nonprofit organization owns.
• Tenants Betterment Coverage: Often protects improvements and upgrades that a nonprofit organization makes to its rented spaces.
• Commercial Contents Coverage: Often protects items stored at a nonprofit’s location, possibly including appliances, specialized equipment, computers, products, and more.
• Inland Marine Coverage: Often protects items transported between locations, possibly including equipment, computers, products, and other items. Commercial contents might not cover items during transport.
• Commercial Auto Coverage: Often protects vehicles owned by a nonprofit, possibly including cars, vans, trucks, or other registered vehicles.

When do nonprofit organizations need liquor liability coverage?

Liquor liability coverage is usually necessary if a nonprofit serves alcohol, such as at a fundraiser, celebration, or other event. Coverage is generally available on a short-term basis if it’s needed.

Where can Illinois nonprofits get nonprofit insurance?

If you run a nonprofit that needs insurance, contact the independent insurance agents at L.A. Blanchette Insurance. Our Illinois agents will make sure you find nonprofit insurance that has the protections your organization needs.