When a charter school or private school is established, it is generally created in order to meet the needs of students who will benefit from a less traditional schooling method than that offered at public schools. While private and charter schools must still meet the standards established by their state, they have a much wider freedom when it comes to school structure and the lessons that are taught. For some parents, they see these types of schools as a good way to teach students that do not necessarily work well in a traditional school environment. Regardless of the lesson plans, however, it is incredibly important that your private or charter school is insured.
Why Insurance Coverage is Different for Private and Charter Schools
Legal actions against the school often fall on the school district. However, when it comes to private schools and charter schools, there is not a large school district to be held liable. Charter and private schools exist on a much smaller level, so if they are held liable for something, then it could end up being catastrophic. Sometimes, schools can even go bankrupt from allegations made against them for which they were found liable.
In addition to the above reason, private schools rely solely on the donations of a select few people. While these donations make it possible for the school to operate, it may be very difficult for the school to raise enough to pay off a lawsuit.
Why Private Schools and Charter Schools Need Insurance Coverage
Any number of situations can arise in which students would benefit from insurance companies. Here are some of the ways that you should be protecting your school.
#1: Basic Liability Insurance
Regardless of how stringent you are with safety in your school, accidents may happen. Basic liability insurance will protect your school and the members of your staff from being charged with negligence in the event that a student is harmed, whether it be by a bully that the parents claim the school knew about or a mop that was placed in the wrong spot and tripped over.
#2: Property Insurance
Have you ever considered what you would do if natural disaster or a fire happened in your school building? While this can be painful to think about, it is much more painful to worry about what you will do in the aftermath of disaster. Instead of stressing, be sure you are covered with property insurance before disaster strikes.
#3: Staff and Directors Errors and Omissions Insurance
This type of insurance is required as soon as operations are undergone for your private or charter school. Everything from leasing property to hiring your teachers should be done after you have secured this insurance, in order for those activities to be covered under this type of insurance.
#4: Other Basic Types of Insurance
Some other types of insurance that you may want to consider for your private or charter school include unemployment and health benefits for your employees. Speak to an insurance agent if there is another type you may be interested in.
As you choose insurance for your private school or charter school, be sure that you are working to choose a plan that fits into your yearly budget. You should also be sure that you understand If you are trying to save costs, you may find it helpful to bundle all the types of school insurance that you need to get a better, more affordable rate. Insurance Land can assist in finding a plan that best fits your institution.