Navigating Insurance with confidence
Insurance can be confusing, and there are plenty of misconceptions floating around - especially when it comes to not-for-profit community groups. At Local Community Insurance Services (LCIS), we want to clear the air and help you understand what Insurance really means for your group.
Let’s clear up some of the most common Insurance misconceptions!
Misconception 1: “We don’t need Insurance because we’re a small group”
Size doesn’t matter when it comes to risk. Even small groups can face claims if someone gets injured or property is damaged during your activities. Insurance can protect your group’s finances and reputation, no matter how big or small you are.
Misconception 2: “Volunteers are covered by their own Insurance”
Volunteers often assume they’re covered by personal Insurance, but that’s not always the case. Volunteer Personal Accident Insurance can be an essential tool to protect your volunteers if they get injured while helping your group.
Misconception 3: “Public Liability Insurance covers everything”
Public Liability Insurance is important, but it doesn’t cover everything. For example, it won’t cover claims related to professional advice, employee injuries, or management decisions. That’s why other policies like Association Liability or Volunteer Personal Accident Insurance might be needed.
Misconception 4: “Insurance is too expensive for not-for-profits”
Insurance costs can be affordable, especially when tailored for community groups. Plus, the financial protection it offers can far outweigh the cost of an uninsured claim. If the upfront premium is hard on your groups cash flow, you can speak to our team regarding Premium Funding which allows you to pay your Insurance, in 10 easy to manage instalments across a year.
Misconception 5: “We don’t need Insurance because we’re a not-for-profit”
Being a not-for-profit doesn’t exempt you from liability. You can still be sued if someone is injured or property is damaged during your activities if your group is found to be negligent. Insurance can be crucial to protect your group and its mission.
Misconception 6: “Our venue’s Insurance covers us”
Just because your event is held at a venue with Insurance doesn’t mean you’re covered. The Venue’s Insurance may only cover the venue itself, not your group or activities. In most cases you will need your own Insurance to be fully protected.
We’ll leave you with some final thoughts...
Don’t let misconceptions leave your not-for-profit community group exposed. Understanding your Insurance needs and getting the right cover is key to protecting your volunteers, members, and mission.
If you’re unsure about what Insurance your group needs, get in touch with LCIS. We’re here to help you navigate the options and find the best protection for your community.
The above statements are issued as a matter of information only and for full terms and conditions you should refer to the Policy Wording.
LCPA 25/902.