Reviewing Your Insurance Policies:
Where Do Your Needs Lie?

All of a sudden, you are now expected to run meetings properly, sign up volunteers, organize fundraisers and balance the checkbook. In all of the duties of being a new officer, there is one detail that you can’t overlook… your insurance!

Right now is the perfect time to determine your specific needs and make sure that you have the coverage you need. Here are some helpful tips on determining your risk:

1. Get a copy of the school’s insurance policy. This will help you to see what you are covered for and what you’re not. Know your coverage.
2. Purchase a General Liability policy if you don’t have one. More than likely there are holes in the school’s coverage that won’t protect you if someone is injured while at your event. Make sure that you fill those gaps for events on or off campus.
3. Bonding – how much is right? A bond policy protects your money from robbery, theft or embezzlement. Ideally you should purchase a limit equal to your organizations total annual revenue. The bond should cover everyone in your organization that you ask to handle your funds.
4. What about Fundraising merchandise? A property policy protects any personal property that the PTA owns, such as popcorn makers, cotton candy machines, etc. It also covers fundraising merchandise while it’s in your possession, including school spirit wear, school supply store merchandise, etc. Purchase a property policy for the amount of equipment that your group owns.
5. Keep your officers on the board. Officers of your Parent Group can be sued personally for things such as mismanaging your bylaws, running elections incorrectly, decision making, etc. Don’t scare them off! Instead, ease their mind covering them with an Officer’s Liability Policy.