Property Insurance: insurance protection for the church’s physical plant and property, including buildings and parsonage. Coverage is generally adequate when it will pay the replacement value of the property. Did you know that most insurance provider’s property coverage doesn’t always include flood, earthquake, fidelity bond, theft of monies, loss of income (called business income / extra expense) or sewer back-up? Ours does.
We find that most churches don’t have adequate replacement coverage. When was the last time you had yours evaluated?
Questions to consider:
Has replacement cost been established by a qualified third party?
Have you considered limits that approximate replacement cost?
