Frequently Asked Questions About
Commercial General Liability Insurance
How much does small business insurance cost?
Costs can vary widely based on industry and are also determined by zip code and often payroll and/or gross sales. Request a free quote to get an exact number. (read more)
What kind of business insurance do I need?
Most business owners need General Liability Insurance at the very least. If you have any non-owner employees, you will need workers compensation insurance too.
What is a Certificate of Insurance?
A Certificate of Insurance is proof of coverage. It lists the type and amount of liability coverage you have and other policy information when a third party requests it. (read more)
Is business insurance tax deductible?
Yes. you can deduct the cost of commercial insurance premiums. The IRS considers insurance a cost of doing business as long it benefits the business & serves a business purpose.
Kentucky Fraternal Organization Insurance
Kentucky Fraternal Organization Insurance. Are you the head member of a Knights of Columbus, an American Legion, a VFW, a Moose Club, or any other type of KY Fraternal Order? If so, there's no doubt that you want to do your best to ensure that the members of your club are enjoying as many benefits as possible.
While it may be hard to think about something bad happening, there is a chance that something could go awry at a meeting or on the property of your Fraternal Order and someone could file a lawsuit against you.
Fraternal orders are comprised of groups of people with related interests or goals who form an organization to pursue those interests or goals. Fraternal orders may be formed for the pursuit of pleasure, to perform a public service, to educate the public and provide funding for medical or scientific research, or to inform and advance a particular charity, philosophy, religion, trade, political, or social issue.
Some have snack bars or full-service restaurants that may be open to the public. Alcoholic beverages may be served at social events. Fraternal orders may be funded solely by membership dues or financed with fundraisers and donations.
In order to protect yourself, your organization, and anyone who is involved with your group, it's extremely important that you invest in the right type of Kentucky Fraternal Organization insurance coverage.
Kentucky Fraternal Organization insurance protects your order from lawsuits with rates as low as $37/mo. Get a fast quote and your certificate of insurance now.
Why Do Fraternal Orders Need Commercial Insurance Coverage?
KY Fraternal Orders can face any number of mishaps. Someone could slip and fall at a meeting, a member of your group could file a lawsuit against you claiming that you misrepresented the club, a member of your group could embezzle funds; these are just some of the issues that may arise.
Given the fact that we live in a very litigious society, having the proper insurance coverage in place is absolutely essential for a Fraternal Order. Insurance coverage will protect you from the risks that are associated with your club; for example, if a member trips and falls over a wire that wasn't highlighted, sustains an injury, and files a lawsuit against your organization, you could be held liable for the damages, including medical care and any compensation that a court might deem you responsible to pay.
Without Kentucky Fraternal Organization insurance, a situation like this could put your organization in serious financial peril; however, if you have the right coverage, your insurance provider will help to cover the costs that are associated with this type of situation - and any other number of risks.
What Type Of Insurance Should Fraternal Service Organizations Have?
There are several types of Kentucky Fraternal Organization insurance policies that Orders should have in place to properly protect their organizations. Some of the most basic forms of insurance coverage that are highly recommended include:
- General Liability - This type of insurance helps to pay for the cost of medical expenses, as well as legal fees that are related to injuries and property damage that a Fraternal Order may be liable for. For instance, if a piece of equipment malfunctions during a meeting and injuries someone, general liability insurance would help to pay for any medical care that the individual may require. If that person files a lawsuit against you, your policy will also pay for your legal fees.
- Property Insurance - In the event that the building your organization operates out of is damaged, a property insurance policy will help to cover the cost of repairs. For instance, if a severe wind knocks a tree over onto the building and damages the roof, as well as some of the contents inside the structure, the carrier of your property insurance policy will help to pay for the repairs or anything that may need to be replaced.
- Liquor Liability - If alcohol is served in any capacity at your location, you definitely want to have a liquor liability insurance policy in place. Any establishment that serves alcohol is liable for damages or injuries that occur when someone who was served drinks at that establishment causes an accident. For example, if a member of your club had one too many drinks and then caused a crash, you could be looking at serious legal problems, as the intoxicated individual was served drinks at your establishment. Liquor liability insurance will help to protect you from these types of legal problems.
- Directors and Officers Liability - This type of policy provides protection against any legal defense costs and damages that may arise if someone files a wrongful act suit against you. For example, if a club member files a claim against one of the directors of your Order, stating that he or she made false allegations or misrepresented the organization, D&O insurance would help to cover the costs of any personal losses the director may incur. Your coverage can also reimburse you for any losses that the club, itself, may suffer.
These are just some of the forms of Kentucky Fraternal Organization insurance coverage that should be considered. The specific type of coverage will vary from organization to organization and depends on a variety of factors; the size of the club and the nature of the activities that occur at the organization, for example.
List Of General Fraternal Organizations
- Afro-American Sons and Daughters
- Aid Association of Lutherans
- American Hellenic Educational Progressive Association
- American Legion
- Ancient Mystical Order Rosae Crucis
- Ancient Order of Hibernians
- B'nai Brith
- Benevolent and Protective Order of Elks
- Brotherhood of St. Andrew
- Columbian Squires
- Concatenated Order of Hoo-Hoo
- Danish Brotherhood in America
- Dramatic Order of the Knights of Khorassan
- Epsilon Sigma Alpha International
- Fraternal Forestry
- Fraternal Order Orioles
- Fraternal Order of Buckles and Spurs
- Fraternal Order of Eagles of US and Canada
- Fraternal Order of Moai
- Fraternal Order of Owls
- Grand United Order of Oddfellows Friendly Society
- Gyro International
- Honorable Order of the Blue Goose, International
- Imperial Court System
- Improved Order of Heptasophs
- Improved Order of Red Men
- Independent Order of Odd Fellows (or IOOF aka Odd Fellows)
- International Order of Alhambra
- International Order of Twelve Knights and Daughters of Tabor
- International Organization of Good Templars (or IOG)
- Junior Chamber International (Jaycees or Junior Chamber of Commerce)
- Junior Order of United American Mechanics
- Kiwanis International
- Knights of Charity International
- Knights of Columbus
- Knights of Peter Claver
- Knights of Pythias
- Knights of the Golden Eagle
- Knights of the Maccabees
- Lions Clubs International
- Moose International
- National Haymakers Association
- Native Sons of the Golden West
- Optimist International
- Orange Order
- Order Sons of Italy in America
- Order of Heptasophs
- Order of Scottish Clans
- Order of the Arrow (BSA)
- Ordo Templi Orientis
- Rosicrucian Fellowship
- Rotary International
- Round Table Club
- Royal Antediluvian Order of Buffaloes
- Sertoma International
- Sons of Confederate Veterans
- Sons of Norway
- Sons of Union Veterans of the Civil War
- Sons of the American Revolution
- Sons of the Revolution
- The National Grange of the Order of Patrons of Husbandry (The Grange)
- Unico National
- United States Junior Chamber
- Vasa Order of America
- Veterans of Foreign Wars (VFW)
- Woodmen of the World
- World War Veterans
- Zonta International
KY Fraternal Services Organization's Risks & Exposures
Premises liability exposure is moderate due to the number of people visiting the premises. Visitors can be injured from slip and falls. Floor coverings must be in good condition, with no frayed or worn spots on carpet and no cracks or holes in flooring. Steps and uneven floor surfaces should be prominently marked. Sufficient exits must be provided and be well marked, with backup lighting systems in case of power failure.
Parking lots and sidewalks need to be in good repair with snow and ice removed, and generally level and free of exposure to slips and falls. Fund-raising activities must be evaluated to determine whether a special events policy is needed. If there are outside contractors, certificates of insurance should be obtained and maintained.
Personal injury exposures include alleged assault and battery, discrimination, and invasion of privacy.
Directors and officers exposure is moderate. Policies and procedures should be published and consistently followed, especially as they relate to membership, membership revocation, the election of officers, and removal of officers.
Liquor liability exposure arises from liquor sold as a part of the order's regular operations. Servers must be trained to recognize the effects of excessive alcohol consumption, to verify the age of those ordering alcoholic beverages, and to refuse service to underage members or guests. Court interpretations have been inconsistent on the application of the liquor exclusion on clubs. Any group that regularly sells liquor as a part of their normal activities should consider purchasing the coverage to avoid costly litigation following a loss.
Workers compensation exposure may be limited to office workers who may develop repetitive motion injuries such as carpal tunnel syndrome. Workstations should be ergonomically designed. Restaurant workers can experience cuts, burns, puncture wounds, slips, falls, and back sprains from lifting.
Cleaning workers can develop respiratory ailments or contact dermatitis from working with chemicals. Any contract with outside firms must specify who is responsible for providing workers compensation coverage to the workers. If the subcontracting firm is responsible, the fraternal order should obtain certificates of insurance to verify that coverage.
Property exposure is moderate as operations generally include cooking facilities. Ignition sources include electrical wiring, heating air conditioning systems, and cooking equipment. Electrical wiring must be up to code for its current use. If there is cooking from restaurant operations, controls such as automatic shut-off devices and temperature controls need to be in place. Grease filters should be cleaned and maintained regularly.
Activist fraternal orders on socioeconomic or political issues may antagonize others not supportive of their viewpoint and may become targets for acts of intimidation that include vandalism, arson, and firebombing. Additional security may be needed.
Crime exposure comes from employee dishonesty and theft of money and securities. Employee dishonesty coverage should be expanded to include faithful performance and to include volunteers as employees. Fraternal orders are unlikely to perform background checks on members handling money. Precautions against dishonesty include having a separation of duties between persons handling money and reconciling bank statements.
Two members should verify cash collections as fund-raising events may result in a large buildup of cash. Money should be regularly collected and moved away from the collection area, preferably to a safe. Regular deposits should be made.
Inland marine exposure includes accounts receivable from dues and fundraising events, computers, and valuable papers and records for donor lists and member records. All records must be duplicated and stored at an off-site location for easy restoration in the event of a loss. A special floater may be needed for property used in parades or special events.
Business auto exposure is generally limited to hired and non-owned for members running errands on behalf of the order. Some groups may provide transportation services for members. If there are owned vehicles, all drivers must have licenses appropriate for the vehicles driven and acceptable MVRs. There should be established criteria for those who are allowed to drive any owned vehicles and how the vehicles may be used. All vehicles must be maintained with records kept in a central location.
Fraternal Order Insurance
To find out exactly what type of Kentucky Fraternal Organization insurance your Order should carry, and how much coverage will protect your organization, speak to a reputable insurance broker. Investing in the right insurance coverage is one of the smartest things you can do for your group.
Kentucky Economic Data And Business Insurance Requirements
In order for a business to succeed, it's important to have a firm understanding about the economic status of the state that the organization is going to be established in . It is also important for business owners to know what type of commercial insurance they are required to carry in KY.
If you are thinking about opening or moving a business in Kentucky, keep on reading to find out some key information about the economic status of the state, as well as the KY commercial insurance requirements.
Business Economic Trends In The Commonwealth Of Kentucky
As per recent reports from leading economists, the economic outlook for Kentucky is looking bright. More jobs have been added in recent years, which is evidenced by the declining unemployment rate, and it is expected that more jobs will be added in the year 2019.
The goods and services industries are the two areas that are really expected to add significant gains to the economy of Kentucky. Industries in this sector are flourishing, with new companies being added during the 2019 calendar year. It is also expected that more jobs will be created in this sector in the upcoming years.
While technology is taking over the manufacturing sector in many other parts of the nation, in Kentucky, this industry is growing; but, it is growing at a slower rate than usual, as technology is also having an impact in KY. It is also predicted that the healthcare firms will continue to be added in Kentucky and will provide ample opportunities for employment, creating more jobs than manufacturing.
There three key areas in the Kentucky that are contributing the most to the economy, and these include Lexington, Northern Kentucky, and Louisville.
Commercial Insurance Requirements In KY
The Kentucky Department of Insurance regulates insurance in KY. Like most other states, business owners are required to carry workers comp insurance in Kentucky. In the Commonwealth, if you employ a staff of hourly or salaried employees, you must carry this type of coverage, even if your staff only consists of one person.
Commercial auto insurance is also mandate in Kentucky, so if you use a vehicle for business-related reasons, you must have this type of coverage.
You are not required to carry commercial liability insurance; however, it is a wise idea to invest in a policy. It will protect you from any legal issues that might arise, such as slips and falls or property damages.
Additional Resources For Non-Profit Insurance
Find useful articles on business insurance for non-profit 501(c)(3) organizations, charities and associations.
- Fraternal Organization
- Labor Union
- Parent Teacher Organization
- Public Administration
- Social Work Services
For 501(c) Non-Profits - Directors And Officers Liability Insurance has become an increasingly important policy to have. D&O coverage protects insured directors or officers against claims involving allegations of wrongful acts occurring while performing their duties as such. The insurance is divided into two separate coverages:
Side A coverage reimburses the individual directors and officers for payments made for loss each has incurred because of wrongful acts.
Side B coverage reimburses the corporation for the payments it has made on behalf of the directors or officers themselves.
General Liability is a foundational policy for almost any business. Most companies do not have any control over the final cost of injuries to a person injured because of their operations, products, or services. The person injured may be a young child, a blue-collar worker, a surgeon, or a homeless person.
The cost of the injuries may be comparatively minor or run into the millions of dollars, depending on the person and the extent of his or her injuries. Do you have sufficient assets to pay such a loss?
Commercial general liability insurance is designed to help you protect your assets with three main coverages:
- Coverage A: Bodily Injury and Property Damage Liability
- Coverage B: Personal and Advertising Injury Liability
- Coverage C: Medical Payments
Request a free Kentucky Fraternal Organization insurance quote in Alexandria, Ashland, Barbourville, Bardstown, Beaver Dam, Bellevue, Benton, Berea, Bowling Green, Brandenburg, Cadiz, Calvert, Campbellsville, Carrollton, Central, Cold Spring, Columbia, Corbin, Covington, Crescent Springs, Crestview Hills, Crestwood, Crittenden, Cynthiana, Danville, Dawson Springs, Dayton, Douglass Hills, Eddyville, Edgewood, Elizabethtown, Elsmere, Eminence, Erlanger, Flatwoods, Flemingsburg, Florence, Fort Mitchell, Fort Thomas, Fort Wright, Frankfort, Franklin, Georgetown, Glasgow, Graymoor-Devondale, Grayson, Greenville, Harrodsburg, Hartford, Hazard, Henderson, Highland Heights, Hillview, Hodgenville, Hopkinsville, Hurstbourne, Independence, Indian Hills, Irvine, Jeffersontown, La Grange, Lakeside Park, Lancaster, Lawrenceburg, Lebanon, Leitchfield, Lexington-Fayette, London, Louisville, Ludlow, Lyndon, Madisonville, Marion, Mayfield, Maysville, Middlesborough, Middletown, Monticello, Morehead, Morganfield, Mount Sterling, Mount Washington, Murray, Newport, Nicholasville, Oak Grove, Owensboro, Paducah, Paintsville, Paris, Park Hills, Pikeville, Prestonsburg, Princeton, Prospect, Providence, Radcliff, Richmond, Russell, Russellville, Scottsville, Shelbyville, Shepherdsville, Shively, Simpsonville, Somerset, Southgate, Springfield, St. Matthews, Stanford, Stanton, Taylor Mill, Union, Versailles, Villa Hills, Vine Grove, Walton, West Liberty, Wilder, Williamsburg, Williamstown, Wilmore, Winchester and all other cities in KY - The Bluegrass State.
Quotes from leading small business insurance carriers including: ACE, AmTrust, Chubb, Cincinnati, CNA, Colony, Employers, Evanston, Fireman's, Foremost, Guard, Hanover, Hiscox, Liberty Mutual, LLoyd's of London, Markel, MSA, Nationwide, Penn America, Philadelphia, Prime, Progressive, Scottsdale, The Hartford, Travelers, USLI, Utica First, Western World, Zurich & others.