Upfront Costs Pay Off Big Time

Often the “upfront” cost, or premium, of a charter school’s insurance policy are of major concern to the board, its financial officers and investors. However, cutting corners or choosing less-than-adequate insurance protection for your school can really end up costing more in the long run!

“The true cost of your insurance is the premium you pay
PLUS any uncovered claims.”

Consider the following real cases:
• A child was pushed into a bookcase’s sharp corner. The wound required numerous stitches, and the child also was at risk for tetanus because of rust on the bookcase. This cost the school district more than $200,000 in a settlement.

• A high school student lost several fingers when he cut a piece of wood on a table saw. The teacher had replaced a bolt in the mechanism and the accident happened when the bolt loosened. This cost the school district nearly $1 million in a court settlement.

• Two students return a television cart to the library. When one student lost his grip, the television toppled off and landed on the other child’s head, causing permanent brain damage. The jury awarded the student’s family $1.7 million.

The scary part is that you MAY NOT be covered for these accidents…possibly putting your school into debt or even facing bankruptcy and closure.

If you have never reviewed your protection program by a Certified School Risk Manager, you may be at risk to pay out-of-pocket for certain accidents that occur during school or on your property. You can have your insurance protection evaluated for FREE by a certified professional by simply contacting Tom Van Auker at our office at (800)334-1561.

Invest in Employee Health with Employee Wellness Program

Upfront costs don’t only pay off when it comes to property and casualty insurance - they pay off for employee health insurance, too.

A school's health care insurance costs can be a large part of your budget and can really add up. Your premiums may be going up due to employees suffering from diabetes, asthma, and other chronic illnesses related to poor diet and exercise habits, which is why it may be a wise idea to consider adopting an employee wellness program.

Many businesses are seeing relief from high premiums with employee wellness programs. These programs encourage healthy habits and make it easy for employees to get preventative care. Although there are upfront costs associated with the programs, the out-of-pocket expenses were more than covered by the premium savings obtained by your health insurance company for establishing such a program. Another benefit is the fact that “healthier” employees miss less work days… therefore, reducing expenses for substitutes or temporary aides. If you are interested in learning more about reducing your health care costs, CALL US TODAY at (800)334-1561.

Are You Putting the Horse Before the C.A.R.T.?

Can you believe it’s May already? You are most likely in the midst of the “end-of-the-school-year” craziness and the kids are anxious to start their summer break! You‘re probably equally anxious for summer to start, while trying to work out the budget, teacher and staff contracts, and curriculum for next year. These are all time-consuming, but necessary and challenging parts of your job – this is where your talent and experience make a difference.

But what about your insurance protection?

Do me a favor and ask yourself one question: Do you really understand what’s in your charter school insurance policy? If you’re not 100% sure what is (and is NOT) covered, then perhaps you’re putting the horse before the C.A.R.T.!

C.A.R.T. stands for four fundamental principles of Charter School Insurance.
• C - Control
• A - Avoid
• R - Retain
• T - Transfer

If you are unsure of these principles, then there is a good chance your protection is not adequate, and you and your school may be at risk. This is where we can help! We will educate you on the coverages you have, as well as what you may need or not need.

To learn more about C.A.R.T. and what that means to YOUR SCHOOL,
please call us at 1-800-334-1561 and ask for Tom Van Auker,
Certified School Risk Manager. Ask for your FREE, NO-OBLIGATION
ASSESSMENT of your current policy.