Sacred Places Winter 2013 | Page 19

BUILDING MAINTENANCE FEATURE Making the Most of Your Insurance Coverage by Gregory Bogart, Standard Claims, LLC Houses of worship symbolize faith and offer a place to communicate with God, but they have other, more practical functions as well. They provide us with shelter and allow communities to come together to share their faith. Many sacred places have long and storied histories; some are breathtaking feats of architecture that inspire and move us. From intricate stained glass windows to complex masonry, these buildings are beautiful expressions of our faith. At the same time, they are vulnerable to many kinds of potential damage: interiors can flood due to broken pipes, trees can fall onto buildings, stained glass can be broken by gusting winds, roof shingles and slate can blow off during violent storms, and fire damage is an always-looming threat. For this reason, it is critical that sacred places are able to fully utilize all of the financial resources available to make themselves whole after a loss or damage. Religious organizations have unique insurance needs, and while most carry property insurance, many are not adequately insured and most do not know how to put their insurance policy to proper use. It can be difficult for congregations to determine the level of insurance coverage they need and the proper amount of reimbursement in the event of a loss. It can also be challenging to identify when a covered loss has occurred. This may be due to the large number of volunteers that help with the administration of a religious organization: while volunteers are vital to a religious organization, they may lack expertise when it comes to insurance. The purpose of insurance is to protect owners from covered losses. Insurance companies are supposed to restore your religious institution to its pre-damaged condition, yet after spending years paying a monthly insurance premium, a congregation may not know if a specific loss is covered by its policy. Leaders of religious organizations should review their insurance policies with their broker on an annual basis. In order for the agent to adequately review the coverage of the policy, the following information needs to be identified and gathered: • Addresses of all buildings – with relevant leases if spaces are rented to other groups • Types of spaces and the square footage of each space • Building materials (i.e., stone, brick, metal, or wood) • Presence of sprinklers STANDARD CLAIMS, LLC www.standardclaims.com 610-389-7355 Gregory Bogart is a licensed Public Adjuster who received his Bachelors degree in Business Administration from the University of Delaware. He is a native of the Philadelphia area and owner of Standard Claims, LLC, which handles property-related insurance claims on behalf of the insured and specializes in representing religious institutions throughout the insurance process so that they receive full compensation from insurance companies. Bogart has recovered hundreds of thousands of dollars for his clients. He is expert at identifying damages that plague religious institutions, and finding the appropriate insurance coverage for those damages. Sacred Places • Winter 2