Like any other business, you will need to carry liability insurance. Whether you are a school that hosts classes on campus, a business that sends employees to various locations or just running classes for some extra cash, you’ll need an enrichment program insurance policy. We’ve outlined a couple items you may want to consider including on your after school program policy. Include a specific addendum for each activity as the programs are different and require different policies. Classes and activities that have a great potential of injury usually cost a bit more. Remember, you have to speak with your broker or agent to make sure that your enrichment program insurance policy covers your activities.
Why do I need an enrichment program insurance policy?
According to the Small Business Association (SBA), “Protecting your business investment with insurance is a critical part of small business ownership. It minimizes the risks associated with unexpected events, liabilities, and losses”. In other words… stuff happens. You want to be prepared in the event that something arises and make sure your school, business, and personal well-being is covered. You can read more about small business insurance on the SBA website by following this link.
What should be covered in my enrichment program insurance policy?
This is a HUGE DISCLAIMER! You must speak with your insurance agent or broker to discuss what is needed in your enrichment program insurance policy. Through our experience and research, these are the most common coverage’s found in an afterschool insurance policy.
–General Liability – This insurance broadly covers and provides protection against the legal hassles associated with accidents, injuries, and claims of negligence.
–Sexual abuse and molestation – Provides coverage for allegations of “wrongful acts”or negligence should an injury occur as a result of sexual abuse.
–Commercial Auto Insurance – This protects a company’s vehicles. You can protect vehicles that carry employees, products or equipment.
–Non-Owned Auto – If you do not have company vehicles, but employees drive their own cars for company business you should have non-owned auto liability to protect the company in case the employee does not have insurance or has inadequate coverage.
–Workers Compensation Insurance – Businesses with employees are required to carry Workers’ Compensation Insurance coverage through a commercial carrier, on a self-insured basis, or through the state Workers’ Compensation Insurance program. Visit your state’s workers compensation office for more information on your state’s program or speak with your local insurance agent.
Again, there may be additional insurance options that you may want to or may be required to purchase based on your specific business, the types of programs you run, and location. Contact a local insurance agent to discuss options and to receive a quote. If you don’t have one, go to Allstate or Progressive. This will be a good starting point. Don’t be afraid to shop around and compare. Once you find what you need, purchase the policy and move forward. Make sure your enrichment program insurance policy is in place before programs begin. Happy hunting!