Insurance coverage was first established in the United States by Benjamin Franklin, who founded the Philadelphia Contributionship for Insurance of Houses from Loss by Fire. This insurance program insures homes that have been built in a responsible manner and are free from fire hazards. Before that time, houses were constructed in close proximity and almost entirely out of wood. This increased the risk of fire to not only one house but to all surrounding structures. Other insurance companies began popping up all over America after the founding of this company in 1752. They provide insurance protection for automobiles, life, disability, and business.
Fraud was common in the early insurance agencies. They weren’t well-regulated. Integrity Now Insurance Brokers companies often didn’t have enough capital to pay claims. Some insurance companies also charged exorbitant premiums. These insurance companies made every effort to eliminate other competitors. The federal government intervened to regulate insurance companies to protect Americans as they grew. The federal regulation of insurance companies was not long-lasting and it was finally enacted by the states in 1945.
Insurance became more popular and large companies merged to gain greater industry power. This also meant lower premiums, which made it more affordable for average consumers. The way business was conducted also changed. Many people dealt with large companies who saw them as numbers or statistics rather than human beings.
Specialized Church Insurance Agencies: The Benefits
Many big insurance companies are primarily online. It’s unnecessary to have an in-person consultation with a licensed professional or visit a brick and mortar location. Although the internet may appear less personal, policy buyers can easily compare rates and coverage. This is an advantage for most insurance policies. However, some businesses require additional coverage and may not be covered by the standard policy. Churches are one example of such an entity.
The policies for churches are not universal. They don’t need to be the same as any other policy. Many of the insurance agents who offer policies to churches are members of the church and can relate to their needs. They are experts in their field, but also have a lot of experience in dealing with church policies. They are committed to their work and can provide the right products and coverage for any church.
Church insurance agencies that specialize in Church Insurance Agency know that many people work to make churches successful. Multiplying the work of youth groups or driving church vehicles may mean that multiple people are involved. These situations require special insurance, which specialized agents can help you find the right policy.
The Church is not just for Worship
A traditional policy of insurance would work fine if all that was being covered was Sunday worship. This is not the way most churches work. Many churches rent their space and offer classes for children, daycare centers, study groups, and space for community meetings. Many also host scouting events. These are all important factors to consider when buying an insurance policy.
Most common claims against churches are for fires, slips, falls, theft, burglary, sexual abuse, and misconduct. The right policy written for churches can cover all of these. These policies will protect the church and its assets, so that it can continue to function in case of a lawsuit. The church will be able to continue its service to its community and members by choosing the right insurance company.
