Insuring Libraries Against Disaster

Libraries have different risks than most other types of businesses. Not only does the building need protection but so do the employees, patrons and valuable items contained in the building. Understanding the insurance library operators need can help protect the valuable assets and property.

Types of Coverage

Libraries have unique risks since they move material to different locations, cater to the public, do community activities and more. In addition, libraries allow items to be checked out and taken off the premises to be returned at a later date. Some of the coverage libraries should consider include:

  • Property in transit
  • Molestation or abuse coverage
  • Identity recovery for staff
  • Hour and wage coverage
  • Medical payments for athletic participants
  • Flood or backup of drains and sewers
  • Cyber breach
  • Good Samaritan coverage for medical emergencies
  • Protection of volunteers, officers and trustees
  • Donation assurance
  • Coverage for fine arts, data, mobile equipment and computer equipment
  • Property off-premises
  • Coverage for third-party property in the library’s control, care and custody

Like every business, the insurance library operators need to consider go beyond general liability insurance. Policies could include auto insurance, crime insurance and property insurance among others depending on the size, location and regulations in the area. Libraries serve an invaluable contribution to businesses, society and neighborhoods. Protect the valuable center of knowledge for years to come.