Institutions that provide higher education face a myriad of risks due to their extensive daily operations. It is important to identify the needs of an institution and get higher education insurance to cover every instance of potential exposure. Doing so can help control costs and give leadership peace of mind.
Coverage Points
There are a number of areas that fall under higher education insurance. Consider all the activities that a university encompasses from student activities to property and facility management. Therefore, it is important to have a comprehensive insurance policy that includes the following:
- General liability
- Umbrella coverage
- Automobile
- Property
- Abuse and molestation
- Accidental death and dismemberment
- Educator legal liability
Depending on the company, other items may include child care, security, pollution and athletics coverage. It is best to consult with insurance professionals to help secure the protection a specific entity needs.
Customize Your Plan
When shopping for a higher education insurance plan, look for a company that can provide coverage for every aspect of the university’s needs. Some companies offer plan customization, so the institution only pays for what it needs. This can provide a cost savings while still insuring valuable assets. A specialist can help institution staff outline potential areas of risk and provide suggestions for how to manage each item. Higher education institutions face unique insurance challenges, so finding a flexible provider will be important to guaranteeing adequate coverage.