Insurance – Why Would You Want Coverage?
Protection for the people who work the hardest for your organization is what your PTA insurance programs do for all your members, volunteers, and officers. One of the benefits of being a part of the state PTA is being able to obtain comprehensive insurance at a very low price. Now is the time of year to evaluate your PTAs specific insurance needs.
We recommend you secure protection with an insurance carrier of your choice. The following information is being provided as a service to Local PTAs. This is not an endorsement of Association Insurance Management.
The PTA insurance programs include the following coverages:
General Liability (annual premium ranges from $185-255)
Has a child cut open an eyebrow in a moonwalk at your fall festival, broken an arm at your roller skating party or broken a collarbone from falling off playground equipment purchased with PTA funds? The General Liability protects local PTA members and volunteers against liability lawsuits arising from these kinds of activities. The policy limit is $1,000,000 per occurrence or $2,000,000 per occurrence with no deductible.
Accident Medical (annual premium ranges from $115-125)
Offers medical payments for an injured person while at your event. This policy is not intended to replace your Liability policy, but only to complement it and prevent a lawsuit from arising. Limits available are $10,000, $25,000, $50,000 or $75,000 with no deductible.
Bond Insurance (annual premium ranges from $110-160)
What do you do when you discover $5,000, $10,000 or $20,000 of your fund raising money has been embezzled and your fund raising vendors have turned you over to a collection agency? The bond insurance will replace your fund raising money and avoid having you turned over to a collection agency. The bond limits are $10,000, $25,000 and $50,000 with at $250 deductible.
Property Insurance (annual premium=$135)
A $18,000 computer, $1,400 popcorn machine or $10,000 of fund raising merchandise would be financially difficult to replace if they were damaged or stolen. The property insurance will replace PTA property damaged or lost due to theft or natural hazard. The policy limit is $10,000 with a $250 deductible.
Officer’s Liability Insurance (annual premium = $75)
As an officer of the PTA you are the focal point for everything that goes on in the PTA. You could be strapped with huge legal bills because someone has accused you of making a misrepresentation, mismanaging the PTA or distributing false or misleading information. The Officer’s Liability will pay your legal bills and provide liability protection from situations like these. The policy limit is $1,000,000 with a $1,500 deductible.
IDENTITYxtra Plan (annual cost = $135)
Provides a proactive solution in case identity theft happens to your organization. Keep your Federal ID Number, your data, your bank accounts, and your integrity secure with the IDENTITYxtra Plan.
Each of these coverages run annually from the day your application and payment are received. Should you have any questions about any of these policies, please contact an insurance representative at Association Insurance Management at 800-876-4044 or visit their website at www.aim-companies.com.