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Schools and educational institutions present a unique challenge to finding the right school insurance coverage. Since the risks go beyond what a typical business faces, what do schools have for insurance?
When reviewing insurance options, two key questions can help to guide their choices:
Private schools get their operating money from charging tuition, receiving private grants, and through fundraising efforts of parents, alumni, and the community. Due in part to their source of funding, private schools have different insurance needs than what public schools require, but they both face similar risks.
When deciding what insurance private schools need, consider these three questions.
What are the risks private schools are exposed to?
Risk can affect the entire school and covers a broad spectrum of exposure. Failure to educate, sexual harassment, breaches of duty, neglect, errors or omissions, sports injuries, and bullying activities of the students are among the top insurance concerns of schools.
When reviewing insurance options, two key questions can help to guide their choices:
- What is the difference between private and public schools?
- What are the insurance risks associated with schools?
Private schools get their operating money from charging tuition, receiving private grants, and through fundraising efforts of parents, alumni, and the community. Due in part to their source of funding, private schools have different insurance needs than what public schools require, but they both face similar risks.
When deciding what insurance private schools need, consider these three questions.
What are the risks private schools are exposed to?
Risk can affect the entire school and covers a broad spectrum of exposure. Failure to educate, sexual harassment, breaches of duty, neglect, errors or omissions, sports injuries, and bullying activities of the students are among the top insurance concerns of schools.
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of students become targets of educator sexual misconduct before they graduate.
- Praesidium |
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in child to child sexual abuse.
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of sex offenders have a sexual history.
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Especially in today’s climate, where the spotlight has been placed on the instances and failures of institutions to report, address and prevent abuse or misconduct, being hyper vigilant to the safety of all under a school’s care is extremely important. The silver lining in this instance of risk is that abuse is preventable.
This is why Selective has partnered with Praesidium for years, a leader in of abuse and molestation risk management arena. As a Selective customer, clients are provided with targeted solutions to help strengthen abuse prevention efforts, including model policies, employee screening and selection toolkits, discounted background checks, and training at no additional cost.
Private schools must also consider additional risks, such as those having to do with:
What are the insurance requirements for private schools?
Private schools include charter, faith-based, Montessori, trade, academies, elementary, and secondary educational institutions, and each has unique insurance risks and requirements.
Common insurance coverage options include:
Do schools have insurance for injuries?
According to the Centers for Disease Control, most playground injuries occur at schools. With such high risk, schools should consider insurance to cover injury-related claims. Schools have a legal duty of care that obligates administrators and teachers to ensure students have adequate protection. While doing everything reasonably possible to protect attendees from foreseeable harm is a primary consideration, injury can still occur.
Common school-related injuries insurance can cover includes:
This is why Selective has partnered with Praesidium for years, a leader in of abuse and molestation risk management arena. As a Selective customer, clients are provided with targeted solutions to help strengthen abuse prevention efforts, including model policies, employee screening and selection toolkits, discounted background checks, and training at no additional cost.
Private schools must also consider additional risks, such as those having to do with:
- Financing or competition
- Operations or strategy
- Technology
- Litigation
- Environment
- Reputation
- Regulations or politics
- Compliance
- Cultural or diversity
What are the insurance requirements for private schools?
Private schools include charter, faith-based, Montessori, trade, academies, elementary, and secondary educational institutions, and each has unique insurance risks and requirements.
Common insurance coverage options include:
- Property Insurance - Property insurance protects bleachers, ticket booths, and refreshment stands for sports or other school events. It also covers outdoor fences, signs, portable classrooms, communication and computer equipment, and the personal property of teachers and other staff.
- General Liability - General liability insurance can provide additional protection surrounding school nurses, athletic trainers, PTAs, booster clubs, and volunteers.
- Commercial Automobile - Commercial auto insurance protects transportation expenses and covers employees using non-owned vehicles and physical damage to vehicles of staff or volunteers, when the vehicles are being used for school business operations.
Do schools have insurance for injuries?
According to the Centers for Disease Control, most playground injuries occur at schools. With such high risk, schools should consider insurance to cover injury-related claims. Schools have a legal duty of care that obligates administrators and teachers to ensure students have adequate protection. While doing everything reasonably possible to protect attendees from foreseeable harm is a primary consideration, injury can still occur.
Common school-related injuries insurance can cover includes:
- Playground injuries
- Sports injuries
- Slip and fall
- Fights and bullying
- Food poisoning
- School bus accidents
- Toxin exposure
- Disasters or emergency situations
It’s Time to Examine Your School Insurance Coverage
Schools are exposed to a multitude of potential risks, and the best way to be prepared for them is with the right insurance coverage. Your independent insurance agent and the team at Selective Insurance understand these specific risks and are ready to help the school year run smoothly. For more information about Selective’s private school coverages, contact your independent agent today.
Schools are exposed to a multitude of potential risks, and the best way to be prepared for them is with the right insurance coverage. Your independent insurance agent and the team at Selective Insurance understand these specific risks and are ready to help the school year run smoothly. For more information about Selective’s private school coverages, contact your independent agent today.
