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Private schools serve an important role in helping to educate students who attend their institutions. In this article you can find information regarding some of the risks private schools may face, some of the insurance coverages private schools may want to consider, and ways to help to keep your school, students, faculty, and staff protected.
The following are just some of the risks that a private school may encounter:
Educational institutions of all types should have insurance. If you fit into one of the following categories, you may want to consider speaking with one of our local insurance agents to discuss your insurance options:
While there are many factors that should be taken into consideration when deciding what insurance coverages your private school may want, there are a few common coverages any type of school should consider.
General liability insurance helps to provide private schools with protection for certain third-party liability claims related to operations, such as bodily injury or property damage caused by the negligence of you or 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.
Whether you own the space where your classes take place, or it is leased, commercial property insurance can be a worthwhile investment to consider. The following are some of the assets commercial property can help to insure:
Private schools rely on teachers and staff to keep institutions running. Whether you’re a small private school or a large one, having workers’ comp to help protect those employees may not only be legally required, but a worthwhile investment regardless. 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.
If your school also operates vehicles for maintenance or any other reasons related to your institution, then commercial auto insurance should be on your list of insurance coverages to consider. Our insurance agency provides coverage options for many types of vehicles used for commercial purposes.
One of the reasons some parents choose private schools for their children is the level of safety that is found at such schools. With cyber liability insurance, this can help your school provide another layer of protection against certain online threats. Cyber liability can help your private school with data recovery costs, reputational damage, and certain other expenses if your students’ or staffs’ electronic data and records are compromised as part of a data breach.
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.
If you are interested in learning more about insurance options for your private school, please don’t hesitate to contact our experienced team. Our team is here to listen and learn more about your school and insurance needs.
Factors that can influence the cost of insurance for private schools may include, but are not limited to the following:
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.
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