7 Steps To A Complete Church Insurance Review
As church insurance brokers we review a lot of churches and their insurance coverages. You can tell a lot about their current insurance agent, when you open an insurance policy and begin an insurance review.
During this church insurance review, we are looking over a lot of information quickly.
Our recommendations are not based on total cost of your insurance premiums, but rather is your current insurance program written correctly.
We want to make sure in the event of a loss, your church insurance coverage is adequate.
Our goal is not to just win the next deal, but to protect your assets, and liabilities as best we can.
Steps We Take When Completing a Church Insurance Review
Before we begin reviewing the insurance policy, we will walk around the entire church facility. This includes measuring each church building, walking inside each building, taking a note on estimated values of all business personal property located in each building, and reviewing the overall safety.
We take pictures of the entire church and note any items that should be discussed. For instance, if we notice the roof appears to be missing shingles, large cracks, signs of vandalism, and missing life safety items just to name a few.
We will request a copy of the churches current insurance policy. With your insurance policy in hand, we will review all insured properties to ensure none are missing or should be removed from our review. We will look over all building limits and liability coverages.
After we have reviewed the current churches insurance policy, we will talk with a member of the church and find out any important details about your churches operations. This includes how many church members your church has, any coffee shops run by the church for a fee, obtain needed building updates, any planned church events, any planned mission trips, and any other exposures that need to be discussed.
Once we have all the needed information, we will input all the information and run a replacement cost estimator for each church building. We will compare the churches current insurance coverages to the estimated amount we come up with. Major discrepancies found in the church insurance review, will be noted and discussed in a future meeting with the church leadership.
We will review all liability coverages and make recommendations based on current risk exposures. As churches grow or shrink, it may be important to adjust insurance coverages accordingly. In addition, church insurance companies may have added new coverages your church may find valuable. A new church insurance coverage recently added is religious expression insurance. This protects your churches long standing religious beliefs. Prior to this coverage, churches had no financial protection.
Setup a new meeting with the church leaders and provide our recommendation based on the church insurance review that was completed. We provide copies of all replacement cost estimates for the churches review. This allows us to make any needed adjustments, if needed to our calculations. It is possible that we may have missed something like stain glass windows, that require additional rating. We will typically also provide a church insurance quote so churches can compare cost and coverages.
After this last step we have an open discussion, and we can adjust our recommendations, replacement cost estimate, and quotes as needed. What we present at these meetings can be changed to better meet a church’s needs. For instance, we may recommend a lower liability limit related to money and securities. After making this recommendation, the church could say, we would prefer to keep the same limit as we are just now growing again after dealing with issues related to Covid-19.
A church insurance review is designed to be informative and educational in nature. We see to bring peace of mind to your church organization. Integrity Now Insurance Brokers specializes in providing insurance for churches. Please feel free to reach out to us for your church insurance review. We can help you with your general liability insurance, workers’ compensation insurance, church bus insurance, abuse and molestation coverage, directors and officers insurance, and more.