Property Insurance for Schools

Schools and Education organizations often have a vast collection of property. From the physical structure of the school itself through to the books in the library, the computers in the computer labs, athletic equipment, sports grounds and swimming pools, and even student transcripts and admin paperwork.

The loss or damage of each of these many different types of property carries its own set of risks. Consequently, it is often difficult to insure all of a school’s various property exposures under a single policy; multiple overlapping pieces of coverage are generally the best solution in regards to mitigating a school’s property risks.

School Fire Insurance

One of the biggest risks facing a school (and most businesses) is that of Fire. However, while many companies will rent their offices, with the landlord ultimately holding the exposure for the costs of rebuilding after a fire.

Many schools will actually own their facilities outright. As such, the burden of rebuilding after a fire will fall on the school and its community. Fire insurance, therefore, is a critical component of a school’s risk management portfolio.

It is important to note that Fire Insurance can also include protection against a range of Allied Perils – including flooding and subsidence. Fire insurance premiums are generally quoted based on a percentage of the overall rebuilding costs, and can be invaluable if the Bunsen burner explodes in the science lab overnight.

Coupled with Liability Insurance Fire coverage enables operational continuity in the wake of a catastrophic financial disaster.

School Contents Insurance

As with all offices, Contents insurance is available to schools to ensure that the critical tools used in education are available should there be any loss or theft of the school’s property.

From personal effects of the employees, to the signage of the school, and the equipment of the school, Contents Insurance is often a way for administrators to ensure that budgets are maintained and that the expropriate equipment is always on hand.

Learn more by clicking Corporate Contents Insurance.

Free School Property Insurance Consultations

If your school or educational institution is considering taking out a new property insurance policy, or if you are looking to benchmark your existing property insurance portfolio against current market offerings, please Contact Us to arrange a no-risk, no-obligation consultation with an expert CCW Global Broker.

You can learn more about us, our team, and our quotation process by clicking About CCW Corporate.

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