Insurance for Career and Technical Schools

Career and technical schools serve a vital role in educating local communities. Having adequate insurance coverages can help to keep your school, students, faculty, and staff protected.

Possible Risks That Technical Schools Face

Operating any type of organization involves risk, and the education system is no different. The following are just some of the risks that career and technical schools may encounter:

• Students, teachers, or staff are injured on your property
• Your school building or equipment is damaged
• Food contamination occurs
• A fire, natural disaster, or extreme weather incident occurs
• You experience theft or vandalism
• A data breach occurs, and sensitive information is stolen

What Types of Schools Need Insurance?

 Educational institutions of all types should have appropriate insurance. If you fit into one of the following categories, you may want to consider speaking with an insurance agent to discuss your insurance options:

• Technical Schools
• Trade Schools
• Vocational Schools
• Colleges & Universities
• Higher Education & Certificate Programs
• Online Education Programs
• Continued Education Conferences & Seminars
• Professional Development Programs
• Fine Arts Schools
• And more

Common Coverages for Technical Schools

Career and technical schools, just as any other educational institution, face unique challenges and risks when operating. While there are many factors that should be taken into consideration when deciding what insurance coverages you may need, there are a few common coverages every type of school should consider.

General Liability

General liability insurance helps to provide your school with protection for certain third-party liability claims related to your operations, such as bodily injury or property damage caused by a dangerous condition on the premises or the negligence of one of your employees. Some general liability policies also include coverage for certain types of personal and advertising injuries, such as claims for defamation or copyright infringement.

Commercial Property for Career and Technical Schools

Whether your own the building your classes operate in or you lease the space, commercial property insurance can be a smart investment. The following are some of the assets commercial property can help to insure:

• Your school building and other structures on campus
• Your school’s equipment, such as computers, tools, supplies, furniture, and other specialized equipment
• Outdoor signage, banners, and other materials
• Landscaping such as campus entryways and parking

Workers’ Comp for Employees

A career or technical school consists of many moving parts – from teachers to grounds crew and other staff members, running an educational institution takes countless individuals. Whether you’re a small school or a large one with hundreds or even thousands of workers, having workers’ comp to help protect those employees may be legally required. Workers’ Comp can help to cover medical bills for employees who are injured or become ill because of work related events. It can also help cover a portion of lost wages.

Business Auto for Technical Schools

 If your career or technical school owns or operates motor vehicles for any purpose (e.g., maintenance vehicles, snow plowing, student or employee transportation, etc.), then commercial auto insurance should be on your list of items to consider.  Our insurance agency provides coverage options for many types of vehicles used for commercial purposes.

Cyber Insurance

Cyber liability insurance can help to provide your school with protection from data recovery costs, reputational damage, and income loss if your students’ or staffs’ electronic data and records are compromised as part of a data breach. Educational institutions rely heavily on technology to store personal and confidential information relating to students, faculty, and staff, making the possibility of data breach a dangerous threat. A cyber breach can do more than just damage a computer system or steal data – it can also result in fines and legal fees.

Commercial Umbrella

A commercial umbrella policy can help cover damages and expenses related to third-party liability claims (for things such as property damage, medical expenses, pain and suffering, lost wages, and your defense attorneys’ fees) which exceed the limit of your underlying commercial general liability or commercial auto liability policies. Typically, in the event of a covered loss a commercial umbrella policy would pick up when the other insurance policies that you carry have reached their limit, up to the limits of the umbrella policy.

Cost of Insurance for Career and Technical Schools

 If you are interested in learning more about your insurance options, please do not hesitate to reach out to our experienced team.  Our agents are ready to provide you with quotes for quality insurance products at competitive prices.

Factors that can influence the cost of insurance for your school may include, but are not limited to:

• What types and amounts of coverage you select
• The cost of property you would like to insure
• Where is your school located?
• Deductible: What will be the amount you are responsible for paying towards a loss before your insurance coverage begins paying towards a claim
• Employee Numbers: How many teachers, staff, and other employees do you have?
• Claims History: How extensive is your claims history?

How to get a Quote for Your Career and Technical School

At Cross Insurance, we work with the nation’s leading carriers as well as regional insurers. With offices across the Northeast, our agents are available for account management support. Contact us to request an insurance quote today.

 

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This article is for general informational purposes only and is not to be relied upon or used for any particular purpose. Cross Insurance shall not be held responsible in any way for, and specifically disclaims any liability arising out of or in any way connected to, reliance on or use of any of the information contained in this article. The information contained or referenced in this article is not intended to constitute and should not be considered legal, insurance, accounting or other professional advice, nor shall it serve as a substitute for the recipient obtaining such advice. The views expressed in this article are that of its author and do not necessarily represent the views of Cross Financial Corp. and its subsidiaries and affiliates (“Cross Insurance”) or Cross Insurance’s management or shareholders.