Best Nonprofit Business Insurance

Finding the right nonprofit business insurance protects your charitable organization from financial risks while supporting your mission. The Hartford leads our rankings with a MoneyGeek score of 4.75 out of 5, earning top marks for competitive rates and comprehensive coverage options. NEXT and biBERK also offer strong policies tailored to nonprofit operations, from volunteer activities to donor events.

Note: We based all scores on a nonprofit business with two employees across professional liability, general liability, workers' comp and BOP policies.

The Hartford offers competitive nonprofit business insurance with strong rankings across multiple coverage types. Charitable organizations pay $45 monthly ($536 annually) for professional liability, the cheapest rate we found. The Hartford also ranks second for general liability at $29 monthly and workers' compensation at $15 monthly. For the most affordable BOP coverage, biBERK leads at $34 monthly, with The Hartford ranking second at $40 monthly.

In general, business insurance costs for nonprofit organizations are the following for the four most popular coverage types:

• General Liability: $36 on average per month, ranging from $31 to $42, depending on the state
• Workers' Comp: $32 on average per month, ranging from $28 to $37, depending on the state
• Professional Liability (E&O): $50 on average per month, ranging from $44 to $58, depending on the state
• BOP Insurance: $53 on average per month, ranging from $45 to $64, depending on the state

Your nonprofit business's insurance needs grow from there based on your mission: social service organizations need professional liability for counseling work, nonprofits running vehicles require commercial auto coverage and charitable organizations handling donor payment information should carry cyber liability protection.

Understanding how to get business insurance for your charitable organization means comparing quotes from specialized nonprofit insurers and matching coverage options to your mission's unique liability exposures.

The Hartford offers the best business insurance for nonprofit organizations, with rates starting at $36 monthly and strong coverage options. Your charitable organization needs general liability, workers' compensation, D&O and professional liability to protect board members, volunteers and participants. Compare quotes from multiple insurers specializing in 501(c)(3) organizations to balance affordability with comprehensive protection.

We answer frequently asked questions about nonprofit business insurance:

We selected the best business insurer for nonprofit organizations based on the following criteria:

• Affordability (50% of score): The lower a company's costs compared to the competition based on our base profile for four core coverage types, the better the company performs.
• Customer service (30% of score): We scored providers on overall customer satisfaction using industry studies, customer review forum ratings and public forum sentiment analysis from sites like Reddit.
• Coverage (15% of score): We scored business insurance providers for this category based on the flexibility, payment and actual coverage options.
• Financial stability (5% of score): Using financial stability industry ratings from companies like AM Best and Moody's, we created an overall rating to judge how likely companies are to pay out claims compared to the competition.

All pricing in this article is based on the following base profile to represent the vast majority of small businesses in all states:

• Three-person business with two employees
• Coverage: $1 million per occurrence and $2 million total per year for all but BOP, which includes the same coverage plus $5,000 of business property coverage
• $150,000 in payroll
• $300,000 annual revenue