On a list of things that are easiest to understand, insurance and all of its policies are usually at the bottom of the list. Insurance is confusing… and when you have to find insurance for a PTA, PTO, or Booster Club, it can seem overwhelming.
But it doesn’t have to be. Here are five easy steps to make your PTO, PTA or Booster Club insurance journey a little easier:
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 – What is the appropriate limit?
A bond policy protects your money from robbery, theft or embezzlement. Ideally, you should purchase a limit equal to your organization’s total annual revenue (or estimated total event 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, PTO or Booster 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.
Here at AIM, we are called on as a company to be socially responsible and are passionate about helping organizations like yours stay protected. We are available for you 24/7 and will make sure you have everything you need to safeguard every aspect of your nonprofit.