Understanding school insurance can sometimes feel overwhelming, and it’s easy for myths to shape our perceptions. In this edition, we’re debunking five common misconceptions about school insurance to help ensure you have the facts and the confidence to make informed decisions.
Myth 1: “Our School is Safe, So We Don’t Need Much Insurance”
Fact: While your school may have excellent safety protocols, accidents and unexpected events can still happen. Even in the safest environments, incidents like student injuries, property damage, or cyber breaches can occur. Adequate insurance is essential to protect against unforeseen risks and potential financial losses.
Myth 2: “General Liability Insurance Covers Everything”
Fact: General liability insurance is crucial, but it doesn’t cover all risks. For instance, property damage, professional negligence, and cyber threats require specific coverage. Schools need a comprehensive insurance plan that includes multiple types of policies, such as property, cyber liability, and workers’ compensation, to address all potential risks.
Myth 3: “We Don’t Need Cyber Insurance”
Fact: Schools are increasingly targets for cyberattacks, including data breaches and ransomware. Cyber insurance is vital to protect sensitive student and staff information, as well as cover the costs of recovery if your school experiences a cyber incident. Don’t underestimate the importance of digital protection in today’s world.
Myth 4: “D&O Insurance Is Only for Corporations”
Fact: Directors and Officers (D&O) insurance is critical for schools too. It protects school board members and administrators from legal claims arising from decisions they make while performing their duties, such as budget allocations or personnel issues.
Myth 5: “Student Accidents are Always Covered by Health Insurance”
Fact: Not all student accidents are fully covered by personal health insurance plans. School-sponsored student accident insurance provides an extra layer of protection, covering medical expenses that may arise from injuries sustained during school activities or on school grounds, helping families avoid unexpected costs.
Stay Informed & Protected
By understanding the reality behind these myths, you can better protect your school community and ensure that your insurance coverage is robust enough to handle any challenges. If you have any questions or want to learn more about your school’s coverage options, don’t hesitate to reach out!
Thank you for your commitment to creating a safe and well-protected school environment!
