If you are the owner of a charter or private school, you have plenty of responsibilities to ensure students, staff, and properties are all safe. One of your duties is to make sure your facility carries adequate charter and private schools insurance. Here are three good reasons why this should be near the top of your “to do” list.
- State Requirement
Charter and private schools are licensed by the states they are operating in. One of the mandates for running these alternative educational facilities is to have an umbrella of general liability coverage. The specific amounts, deductibles, and coverages will vary depending on the school and state.
- Your Mortgage Holder
When a mortgage is held on a school building, the lender will require a certain amount of property insurance to cover the bank’s investment. You’ll need to have adequate coverage to protect the real estate, plus assets such as educational materials, desks, playground equipment, and the grounds. This coverage may protect against fire, natural disasters, or accidental damage.
- Protect School Community
You have many human beings connected to your school, and you want to have adequate coverage if any accidents or other calamities should arise. By having the right insurance coverage, you can protect your employees, your students, and your school’s reputation.
Running a learning academy is a huge responsibility. By carrying the right amount of charter and private schools insurance coverage, you are doing your job effectively.