Insurance coverage began in the U.S. when Benjamin Franklin started the Philadelphia Contributionship for the Insurance of Houses from Loss by Fire to insure homes that were built responsibly and avoided any type of fire dangers. Prior to that time, houses were built closely together and made almost completely out of wood, increasing the likelihood of fire to not just one house, but any surrounding structures. After the start of this company in 1752, other insurance companies started popping up across America to provide insurance protection for disability, life, business, and automobiles.
The first insurance agencies weren’t well regulated and fraud was often commonplace. Many insurance companies didn’t have the capital to pay out claims and some insurance companies charged outrageous premiums. Many of these insurance companies did what they could to drive out other competitors in the industry. As insurance companies grew and scandals continued, the federal government got involved to begin regulations in order to protect Americans. Federal regulation was short lived and in 1945 the regulation of insurance companies fell to the states.
As insurance became more popular, large companies merged to have greater power in the industry. However, this also came with lower premiums resulting in greater affordability for the average consumer. What also changed was how business was done. People were often dealing with huge companies that saw them as a number or statistic instead of a human being.
The Benefits of Specialized Church Insurance Agencies
Many of the big powerhouse insurance companies do most of their business on the internet. There’s not much need for an in-person consultation or a traditional brick and mortar building. Although it may seem less personable, the internet has also allowed policy buyers to easily compare rates and coverage. While this is a benefit for most insurance policies, there are some types of businesses that are different from the standard ones and require different coverage. One such entity is churches.
Churches don’t fall under the umbrella of the standard ‘one size fits all’ type of policy. Churches need policies that are specifically geared to them and their ministry. Many insurance agents who work for companies that offer policies to churches are church members themselves and understand the different needs a church may have. The agents are not only professionals in their field but are usually caring and experienced in church policies. They are often committed to what they do and can offer the right products and coverage for a church of any size.
Specialized church insurance agencies know that churches have many people working to make them succeed. From leaders to volunteers, there may be many people who need to be covered by insurance. Multiple people may be driving church vehicles or working with youth in camps or groups. This requires special insurance that specialized agents understand and can help with finding the right policies.
Churches Aren’t Just for Worship
If all that was being covered was just Sunday worship service, a traditional insurance policy would probably work fine. But that’s not how most churches operate. Churches often rent out their spaces, offer preschool classes, daycare centers, study groups, and room for community meetings. Many host scouting programs as well. All of these need to be taken into consideration when purchasing an insurance policy.
The most common church claims involve fires, slips and falls, theft and burglary, and sexual abuse and misconduct. All of these can be covered with the right policy that is written specifically for churches. The policies will help to protect the church and its assets so it can continue to function should there be a lawsuit. Having the right insurance company means the church can continue to be of service to its members and the community.