12 Feb Insurance for Schools and Learning Centers
Insurance for Schools and Learning Centers
If you own or manage a school or learning center, this blog is for you. We will go over the basic coverages you need for your business to be protected in caseof an accident or loss.
Insurance for Schools and Learning Centers- Business Owners Policy
Liability Insurance for Schools and Learning Centers is extremely affordable compared to other types of businesses. There are many options available for purchase, including standalone General Liability and Business Owners Policies. Business Owners Policies are great for schools and learning centers because they include General Liability and Business Personal Property on a single, affordable policy. In some cases you can purchase a Business Owners Policy, which includes your Business
Personal Property, for just $500 annually.
Insurance for Schools and Learning Centers- Workers Comp
Schools and Learning Centers often employ several different types of employees. All of these employees should be covered under a Workers Comp policy. For those employees who are doing administrative, tutoring, or teaching, Workers Comp is very affordable. There are several things to consider when shopping Workers Comp, including verification of the correct class codes, accurate payroll estimates, and working with a Broker that really understands how to get credits on the policy.
Insurance for Schools and Learning Centers- Additional Coverages
There are additional coverages to consider, most of which can be easily endorsed on to the Business Owners Policy. If your School or Learning Center relies on expensive tools, computers, or equipment for teaching, you should consider scheduling these items on the Property portion of the policy. In addition, if your business relies on the above mentioned equipment for business operations, you should carry Business Income coverage, which will pay you for lost income due to
a covered loss.
There is a lot to consider when purchasing Insurance for your School or Learning Center.
Give our Business Insurance specialist a call at 925-297-4829 to learn more!
All information is general in nature and is intended to provide guidance only. It is up to you to request specific coverage options, the agency and agent do not bear this responsibility. Always read the policy if there is a questions about coverage or a claim. If any information herein should conflict with your actual policy’s specific language, the policy language will be controlling.