The Department of Education requires that boards put in place comprehensive insurance cover for the school.
Overview
All Insurance policies should be in the name of the Trustees / Patrons of the school. It may be necessary to name the Manager / Board of Management and the Trustees in the policies.
Insurance of the Plant against fire, lightning, aircraft and explosion, storm, burst pipes, floods, earthquake and impact are essential. Loss or damage from burglary and glass breakages is also insurable. The following list is a useful checklist when considering insurance cover:
- Buildings and Contents are required to be insured against fire, smoke, storm / tempest, bursting and escaping of water or oil, flood, impact, riot, civil commotion, vandalism, removal or attempted removal of contents
- Accidental damage to underground pipes
- Breakage of fixed glass and sanitary fittings
- Breakage or collapse of TV aerials
- Theft of lead or copper
- Loss of cash
- Loss of or damage to frozen goods
- Consequential Loss
- Sudden and unreasonable damage to low pressure hot water units
- Accidental damage to audio-visual equipment
A common insurance policy held by many schools is the Allianz Custodian School Protection Policy, see their guide linked here. This guide is an amalgamation in one document of all the insurance covers which a school should prudently have.
The policy is divided into seven sections:
- Property – Loss or damage to school property
- Consequential Loss – Financial loss resulting from damage covered by
- Money – Loss or theft of money
- General Liability -Employers Liability and Public Liability
- Indemnity to Management
- Legal Expenses
- Personal Accident
It is important to obtain at least 3 quotes or use the services of a broker when renewing your insurance.