GuideStar - News - Articles - Insurance Trips and Traps for Nonprofits: "Insurance Trips and Traps for Nonprofits
Last month we discussed the unique issues presented by nonprofit directors and officers insurance. There are issues lurking in other parts of your insurance program, too.
Property Insurance
Limit of Coverage
Review the amount of property insurance you buy. Is it adequate to replace your buildings and the contents? Have your agent remove any penalty clauses. Coinsurance, for example, reduces loss payments if the insurance company thinks you didn't buy enough insurance. Ask your agent to identify any other penalty clauses in the policy."
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