Even though virtually all businesses and organizations are required to get insurance, a library probably doesn’t automatically top the list of places that one might expect to need it. Regardless of its slower pace and generally easy-going clientele, libraries do need coverage to protect assets, employees and information. When you consider the number of people that use and rely on the services a library provides, it should come as no surprise that misunderstandings can happen and have the potential to be costly without library insurance.
Exposures for Libraries
When people go to the library, it’s possible that they might take many things for granted that keep it running smoothly. Some responsibilities that libraries have that some may not realize include the following
- Maintaining grounds, building and interior
- Protecting displays and artwork
- Keeping books, CDs and DVDs stocked and functional
- Ensuring that employees and patrons are safe while on library property
- Keeping patrons’ private information safe
- Handling finances
- Employee compensation for any health or medical issues
These responsibilities are not limited to only public libraries either. It is important to remember that they likely apply to ones that house private collections or focus on circulating information about specialty subject matters. Regardless of type, library insurance will likely be a practical investment to protect against unique exposures.