If you manage or look after the interests of a community association, group or society and have been tasked with organising the commercial insurance programme, then chances are you are going to need community association insurance.
Community association insurance can provide protection against the expensive pay-outs that come with having incorrect or insufficient cover. We recommend four main insurance policies for community associations:
Different types of Community Association Insurance
Trustee Indemnity Insurance
Regardless of good intent, trustees can be held liable for poor decisions or wrongdoing if they have caused a loss to the group. Trustee Indemnity Insurance can provide protection to trustees where they may be held personally liable. Trustees should give serious consideration to this type of community association insurance; without it, should an allegation be made, they may have to defend the claim at their own personal expense.
Public Liability Insurance
If your community group interacts with members of the public, then Public Liability Insurance must be considered. This type of community association insurance would protect you against allegations of injury caused to a third party. Public Liability Insurance also covers against damage caused to a third party’s property at the fault of your business or employees.
Employer’s Liability Insurance
If your community group has employees or volunteers then you must get Employer’s Liability Insurance. This type of community association insurance covers your charity against injury claims or illness suffered by employees and volunteers working for you.
Property Damage Insurance
If your community group is part of a building, you will need Property Damage Insurance. This type of community association insurance can protect your group against individual claims that could affect your liability, and from paying out for losses if your property is damaged. Property Damage Insurance also covers buildings and general contents against accidental damage including theft.