Charter schools are growing at a tremendous rate, and we have been able to work with many of them in implementing their first insurance policy.   General liability insurance is the most basic and primary coverage in setting up a charter school’s first insurance program.   Just because it’s the most essential coverage doesn’t mean it is understood by many outside the insurance industry.   We wanted to create an introductory blog post outlining the basics of a general liability insurance policy and why a charter school needs to carry one.

What does general liability insurance cover?

Under a liability insurance policy, your insurance company will be any legal claims and defense costs for covered claims and lawsuits.  Covered liability claims include bodily injury, property damage, personal injury, and advertising injury.

The amount of coverage a school should purchase depends upon various factors.  Most states require minimum liability limits of $1 million per occurrence and $2 million aggregate limits.  Depending upon the size of your charter school and other risk factors, it may be necessary to purchase additional limitations.

General liability insurance is essential for charter schools because, in today’s litigious society, even minor incidents can quickly turn into lawsuits.  This is why insurance companies require charter schools to report any accident that could potentially result in a claim as soon as possible.  This includes documenting the situation, forwarding any summons and legal notices, and cooperating fully in any investigations.

If you have any additional questions regarding how a general liability insurance policy can help your charter school, please don’t hesitate to call our office.