You might be wondering why a school would require insurance coverage? Like any other business model, a school is an investment for owners, principals, and parents alike. It’s in everyone’s best interests to ensure they are protected against any unforeseen circumstances.
With all of the comings and goings before, during, and after school hours, nurseries, schools and training centers can be high-risk environments. Whether you are an owner protecting your educational services, a principal protecting your teachers and students, or a parent protecting your children, it’s important you invest in the right coverage for your educational institutions.
What does School Insurance Cover?
As an educational professional, you know how to manage your childcare center or school. However, how you would manage if your business or one of your employees was faced with a lawsuit? What if there was a fire in your building? What if someone broke into your building and stole all of your computers? What if a member of your faculty was accused of neglect or abuse?
Insurance coverage for schools is designed to protect the interests of owners, employees, parents, and students. While tailored to your specific needs, comprehensive coverage typically covers a range of risk services, including:
- Personal accident for students: protects the school’s interests in the event of unexpected medical expenses incurred if a student is injured on school property, on a school field trip, or during a school-sponsored event (such as during a sporting event). Children are active and full of energy, and given the multiple variables during every school day, accidents happen even in the safest of environments. Additionally, student accident coverage can help provide schools and school districts with additional insurance protection in the event of a lawsuit resulting from a school-related injury.
- Property insurance – covers the school for damage incurred to its building and other property, such as sporting equipment, computers, and furniture. Property insurance offers coverage for weather-related disasters, including damage caused by fire, smoke, wind, hail, rain, lightning, and more. It can also protect your school from losses associated with vandalism and theft (covering the building and all of its contents).
- Personal liability insurance – provides coverage for bodily injury and property damage sustained by others for which the school is legally responsible. Personal liability claims could include legal fees, medical bills and more if a guest or faculty member is injured on the school campus.
- Workers compensation insurance – worker’s compensation is designed to protect your interests in the event a member of your faculty or staff is injured on the premises. Additionally, workers compensation insurance protects your interests in the event a member of your faculty or staff is injured while traveling to and from work.
- Business interruption – in the event of a natural disaster, such as a fire or wind storm, business interruption insurance provides funds to help you cover the costs while you repair the damage.
Who Is Eligible for School Protection Insurance?
The types of schools and programs that are eligible for coverage in which Petra can advise you on insurance pertaining to schools include the following:
- Nursery schools
- Primary schools
- Middle schools
- Secondary schools
- Before school and after school programs
- Vocational schools
Depending on your specific needs, all registered students and employees of the insured school are included in the coverage if you take out comprehensive policies.
At Petra Insurance Brokers, we leverage our decades of industry experience and expertise to find the best coverage to protect your personal and professional interests. We provide insurance advice for various types of educational establishments, including nurseries, schools, universities, and professional development centers.
We look forward to hearing from you.