It’s easier than ever to start a charity these days. If you know how to use social media, you can reach tens of millions of people. It’s amazing because you don’t need to look far to find someone in desperate need of help.
Just make sure you’ve got good insurance from the start. It’s still essential even if you’re an up-and-coming charity that’s not bringing in lots of money. Let’s look at a few reasons why you don’t want to skip it.
1. Cyber Warfare Is Coming
State-sponsored hacking is rife at the moment, and it’s only going to get worse in the coming years. Countries like Russia, China, and Iran will do everything possible to cause chaos by hacking into western businesses.
It’s why we’ll all need cyber insurance going forwards. You might assume it’s only going to happen in the U.S. or that you’re too small to be attacked. I wouldn’t take any risks when you’re handling credit card information.
2. Volunteers Making Claims
When you hire employees, you usually spend a long time vetting them. During the interview stage, you get a good idea of what they’re like. It’s harder to ensure the volunteers you hire don’t cause problems while at work.
If volunteers (or employees) misbehave, you’ll be the one facing a lawsuit. You don’t want to spend money on a payout when it could go towards helping people. Business insurance services in Canada will keep you safe.
3. Throwing Special Events
Throwing fundraisers is a good way to generate money fast. You’ll usually be inviting guests to events you’re throwing at various venues. Who do you think will get into trouble if a member of the public gets hurt?
I bet they’ll try to hold you responsible for any injuries they suffer. Your guests might get drunk and cause damage to a hotel, which they’ll blame on you. If something happens, you don’t want the charity to lose the money you raise.
4. Buildings Are Vulnerable
When you run a charity in certain states, you need to protect yourself from natural disasters. Will a forest fire or tornado destroy the roof of your office? Someone could set fire to your building because they’re upset with you.
It’s not easy to pay for building repairs out of your own pocket. Offices can sometimes be dangerous places too. One of your suppliers could injure themselves while they’re walking around your building making deliveries.
5. Giving Out Medical Advice
Some charities offer services as opposed to just collecting money. A perfect example is running a suicide hotline to help save lives. When employees speak to callers, they’ll be giving them advice that might cause them harm.
Someone might decide to take you to court if they have a grievance with the charity. It’s scary giving out advice when you know it’s possible to be sued. When you have insurance employees won’t need to worry about messing up.
Keep Yourself Covered
So many things can go wrong when you’re running a charity, so make sure you’re fully covered. You’ll be able to sleep a lot more soundly at night.