PTO / Booster Club / PTA - Inland Marine (Business Personal Property) Insurance

Protect Your Property

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Cover your property from fire, theft, vandalism, and more.

The Inland Marine (Business Personal Property) coverage protects your raffle merchandise, auction items, and fundraising supplies while these items are in your possession.

This coverage also protects any personal property of your organization such as popcorn machines, snow cone makers, school store supplies, emergency relief supplies, and more.

The Inland Marine coverage limits are $10,000, $25,000, and $50,000, with a $250 deductible.

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What you need to know about Property Insurance

Property Covered

Your Property policy covers personal property of your Organization from perils such as fire, lightning, windstorm, theft, and vandalism.

Personal property of Parent Teacher groups are typically items including popcorn machines, school store supplies, cash registers, posters, coffee makers, and any other property that your Organization uses on a regular basis.

Fundraising merchandise is also covered for the same perils.

Gifting Money to the School

We all know that Parent-Teacher groups raise money to purchase items to give to the school. To decrease your liability, AIM recommends that the Parent Teacher group not purchase any merchandise to give to the school directly.

A better choice would be for the Parent Teacher group to “gift” the money to the school and allow the school to purchase the items that your Organization wishes to donate.

Please refer to our sample gifting letter. While this is an acceptable form, we encourage you to put together your own gifting forms with your letterhead to use for your school.

Gifting Property Directly to the School

Although we recommend that any Parent Teacher group donate money directly to the school, we recognize that many will donate property directly to the school.

If this is the route your Organization chooses, we recommend getting the school to sign a Hold Harmless Agreement for the property that is donated.

The Hold Harmless Agreement says that the school will hold your Organization “harmless” for any maintenance to or accidents that result from the donated property. Please refer to our sample Hold Harmless Agreement.

Terrorism (Endorsement to Property)
Property Deductible
Exclusions

Terrorism (Endorsement to Property)

Under the Terrorism Risk Insurance Act, you have the right to purchase insurance coverage for losses resulting from Certified Act of Terrorism (certified by the Secretary of the Treasury).

There is a $250 deductible for a claim filed under this policy.

Exclusions

There are certain exclusions within your Property policy. The following is a list of specifically excluded items:

Scrip/Gift Certificates – The theft of scrip is not covered. Scrip is covered under the Bond policy for embezzlement or theft.
Marquees – Many Parent Teacher groups will conduct a fundraiser for a new sign or marquee which will go in front of the school. Once these signs are permanently grounded, they become real property and are usually covered under the school’s Property and Casualty policy.
Computer Labs – As with the marquees, once these computers are given to the school for use by the students, they become the property of the school. These labs are not for everyday use by the Parent Teacher group. A computer specifically dedicated to your Organization’s use, however, is covered.
Playground Equipment – This policy does not cover any playground equipment on school grounds. This property should be covered under the school’s property policy. (Note: under many school insurance policies, items such as Marquees, Computers, and Playground Equipment must be gifted to the school in order to provide coverage)
Other perils – This policy does not provide coverage for wear and tear, dishonest or criminal acts by a member of the Parent Teacher group, or damaged property prior to your policy start date.

This list is not all-inclusive. If you have a specific question about event coverage, please call AIM at 1-800-876-4044.