Struggling to Find Business Insurance in California
Hello everyone,
As the title suggests, I’m having quite a challenge securing business insurance. I’ve contacted Next, The Hartman, and Hiscox but ended up getting referred to Tivily, and after that to Thimble, who unfortunately denied my application. I’m still trying to connect with an insurance provider that can offer coverage.
I recently established a for-profit S-Corp and a 501(c)(3) fiscally sponsored disability resource center to support individuals of all ages in my community. Our initiatives include an adaptive equipment library, various classes and services, one-on-one peer mentoring, and community education programs. I’m the owner and we have a team of three dedicated volunteers. While all our services are free, we are currently applying for grants and pursuing contracts with Medi-Cal, CalAIM, and SARC. Additionally, we’re in the process of opening a physical center that will serve as a community space and an adaptive store, with hopes to expand our program offerings this year.
Unfortunately, everything is currently on hold as we’re unable to move forward without insurance, which is required for our contracts.
I would greatly appreciate any advice, insights, or recommendations. Thank you!
Hi there,
It’s great to hear about the important work you’re doing in your community! Navigating business insurance can definitely be challenging, especially for a nonprofit that’s just starting out. Here are a few suggestions that might help you find the coverage you need:
Specialized Brokers: Look for insurance brokers who specialize in nonprofits or social enterprises. They often have more experience and connections to underwriters who can provide coverage specific to your needs.
Local Networks: Reach out to local nonprofit associations or networks. They might have resources or recommendations for insurance providers who understand the unique challenges faced by organizations like yours.
Online Marketplaces: Consider using online platforms like Policygenius or CoverWallet that allow you to compare quotes from multiple insurers. This may expand your options beyond the companies you’ve already contacted.
Networking: Connect with other nonprofits in your area or similar organizations to see who they use for insurance. They might have valuable insights or even recommendations for brokers.
State Resources: Check with the California Department of Insurance. They may have resources or consumer assistance that can help you navigate finding coverage.
Consider Basic Coverage First: If you’re struggling to find comprehensive coverage, see if there are basic liability insurance policies you can obtain to meet your immediate needs while you explore broader options.
Funding for Insurance: Since you’re applying for grants, consider including your need for insurance in your funding proposals. Some grants may allow for startup costs, including necessary insurance.
I hope some of these suggestions help you find the insurance provider you need so you can move forward with your mission. Best of luck, and thank you for the valuable work you’re doing!