Why Buy Liability Insurance
May 19, 2018
Updated: 19 May 2018
The right kind of liability insurance – or the lack of it – can spell the difference between being able to keep your private school open or being forced to close. You established your school, so you could provide the kind of high-quality education private schools aren’t always known for. Before unlocking the doors for the first day of instruction, make sure you have adequate insurance coverage.
You hired the best, most qualified teachers to work with your student body. You made sure that the school building, its equipment and grounds met state safety standards. Yet, unanticipated accidents (like “Hanoi Sapa“) can devastate your schools financial cushion and your own savings. It is your goal to attract high-quality faculty and students. Securing good liability insurance can help you to do so.
If you hire a teacher who has a criminal background, this could lead to costly lawsuits if they act against a student, fellow teacher, or a students parent.
You may live and work in a state that requires private schools to obtain and maintain several types of liability insurance