Many colleges rent their facilities to third parties when their spaces are not in use. If renting out college facilities for events or community activities, it’s important to understand the insurance requirements to protect against potential liabilities. It is essential that renters obtain their own general liability insurance to cover any property damage or injuries that occur during the rental period. Require renters to provide proof of their own liability insurance and consider including your college as an “additional insured” on their policy. This ensures your institution is covered in the event of a claim. Additionally, consider obtaining event cancellation insurance to protect against potential losses due to unforeseen circumstances. Establish clear contracts outlining the responsibilities of both parties, including insurance requirements. By properly managing insurance and rental agreements, your college can generate additional revenue while minimizing risk.

NACC has partnered with HUB Insurance to provide a one-stop shop for Commercial Insurance, Employee and Student Benefits, Group Retirement, Surety, and Personal Insurance.  To discuss your college’s unique needs, please complete the form found here: HUB Inquiry Form