Struggling to Find Business Insurance in California
Hello everyone,
As mentioned in the title, I’m having a difficult time securing business insurance. I’ve reached out to several providers, including Next, The Hartman, and Hiscox. I was referred to Tivily, which led me to Thimble, but unfortunately, they declined to provide coverage. So far, I’ve yet to connect with anyone who can help me.
I recently launched a for-profit S-Corp, a 501(c)(3) fiscally sponsored disability resource center aimed at supporting individuals throughout their lifespan in my community. Our initiatives include an adaptive equipment library, various classes and services, one-on-one peer mentoring, and community education. I’m leading a team of three volunteers, and while all our services are offered for free, we’re in the process of applying for grants and securing contracts with Medi-Cal, CalAIM, and SARC. Additionally, we’re establishing a physical center that will serve as a social/community space and adaptive store, with plans to expand our program offerings this year. However, everything is currently on hold due to the lack of insurance, which is necessary for us to finalize these contracts.
I would greatly appreciate any help or advice you can offer. Thank you!
Hi there!
I’m sorry to hear about the challenges you’re facing in securing business insurance; that can be incredibly frustrating, especially when you’re trying to launch such a valuable initiative.
Here are some suggestions that might help you find the right coverage:
Local Insurance Brokers: Consider reaching out to local insurance brokers who specialize in nonprofit coverage. They often have access to a wider range of providers and can help tailor a policy to your specific needs.
Nonprofit Insurance Providers: Some insurance companies specifically cater to nonprofits. Look into organizations like The Nonprofits Insurance Alliance, which provides affordable coverage options and may be more accommodating to your unique situation.
Networking: Connect with other nonprofit leaders in California through local associations or social media groups. They may have recommendations for insurers or brokers that have experience working with similar organizations.
Insurance for Volunteer Organizations: Since you have volunteers, it’s essential to find coverage that also includes liability protection for them. Be sure to ask potential providers about their policies regarding volunteers.
Grants and Community Resources: Sometimes, community foundations and local business networks have resources or even special grant opportunities that can assist with the costs of necessary insurance for nonprofits.
Document Everything: When speaking with providers, ensure you clearly articulate your mission, services, and community impact. This transparency may help them understand your organization better and find a suitable policy.
Consider Multiple Quotes: If you haven’t already, obtaining multiple quotes might widen your options. Some insurers may be more willing to cover newer nonprofit ventures than others.
I hope you find this advice helpful, and I wish you luck in securing the insurance needed to move forward with your impactful work! If you find a broker or an insurance provider that works well for you, please consider sharing your experience—it could help others in a similar situation.