Liability insurance for nonprofits in New York City can offer tremendous peace of mind and comfort. Foregoing nonprofit liability insurance, on the other hand, can prove to be a colossal mistake that takes a lifetime to fix. Watch this video clip if you are interested in finding out how liability insurance works.
Accidents happen, and sometimes no one is technically at fault. Unfortunately, the victim of this accident will still require compensation. If someone is injured on your property and you do not have this type of coverage, you may be forced to pay for the damages using your personal money and assets. You may also have to pay your own legal fees in the case of a lawsuit, which can add up quickly. If you do have liability insurance, your policy can pay for the injury or damage instead, leaving you free of the responsibility of compensation.