For a definition of terms and procedures we believe are critical to understand for good communication and proper application. Our assistance is as near as your email or phone. We value the opportunity to serve with you* (Click here) for definitions or call us toll free 877-471-7997)
Insurance: Without the foundation of a quality comprehensive risk study which deals with each realized risk factor, your ministry is left positioned for a possible disaster in waiting, for your staff and those of your community of faith. Would you think it a wise choice to never take the time to timely check your auto brakes feeling justified with this decision because you have auto insurance? Healthy life choices as are checking your auto brakes, are the risk management safeguards you choose to put in place in your life to lesson the risk of the premature loss of your life or accident. Ministry insurance, is like life insurance which can not stop you from dying or getting sick, but can assist with the possible financial aftermath of your death or ill health. Insurance is thus a contract for a future delivery of funds based up the benefits you have chosen to include in your insurance contract with your agent's assistance to meet the realized risks of your ministry. The purchased contract is to off set possible future financial loss in your ministry when the chosen contracted benefits are realized as a claim to help you financially recover.
PROPERTY COVERAGE offered by the Cornerstone Plus Plan*
Three options work together, from the Basic Form to the Broad Form to the Special Form, in order to provide the benefits of the Cornerstone Plus for your church. GuideOne offers three different plans so as to better meet the specific risk needs of the church, from the most basic risk factors to the more comprehensive risks of today's churches. Today, churches vary greatly in the size and scope of their ministries and in the demographics of their ministry.
| Basic Form | Includes:
- Fire
- Lightning
- Explosion
- Windstorm and hail
- Smoke
- Aircraft and vehicles
- Riot and civil commotion
- Vandalism
- Sprinkler leakage
- Sinkhole collapse
- Volcanic action
| | Broad Form | Includes all causes of loss in the Basic Form, plus:
- Damage by falling objects
- Weight of snow, ice or sleet
- Accidental water damage due to leakage or discharge, including overflow of baptistry
- Collapse of building due to certain specified causes
- Unlimited breakage of glass, including stain glass, from listed causes of loss; please note your specific policy for provision of coverage, limitations and exclusions.
| | Special Form | Includes all causes of loss in both Basic Form and Broad Form, plus:
Any other causes of loss that are not specifically excluded.
Examples:
- Damage caused by acids of chemicals being spilled
- Theft or attempted theft of part of the building
- Theft of contents from house of worship premises
- Damage from wild animals
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EXTRA COVERAGES INCLUDED IN THE BASIC, BROAD AND SPECIAL CORNERSTONE POLICIES:*
- Newly acquired property (building and contents) for up 180 days
- New construction for up to 180 days if you neglect to notify us
- Personal property coverage for ministers and personal property of others in your church facilities replacement cost, used in the work.(Example: cell phone, computer,etc)
- Minister's personal property off the premises (items that pertain to their work at the church) Example: cell phone, computer, books, etc.)
- Personal property of others if items pertain to a sponsor services/activity
- Coverage for valuable papers and records, cost of research
- Digital data recover, includes loss by computer virus
- Ordinance or Law:
- Demolition cost, increased cost of reconstruction and value of undamaged portion of building caused by ordinance or law;
- Specific limits
- Demolition or increase cost of reconstruction
- Value of undamaged part of building
- Caused by reqired ordinance of law
- Buildings and property in the open
- Property in transit
- Property of premises, subject to policy limitations
- Trees, shrubs, plants and lawns; up to $1,000 per plant $20,000/ occurance
- Indirect loss for business income
- Extra expense, tuition income, rental income
- Emergency evacuation, includes civil authority
- Any combination of any above indirect loss of income
- Down spouting, gutter, drains from weight of ice, sleet, and snow
- Signs in the open
- Church fidelity bond
- Lock replacement with no deductible
- Anti-arson reward
- Vacant staff dwelling- no time limit
- Sewer or drain backup, for building value, subject to policy limitations
- Actual cost for fire department service charge
- Loss of personal property at sponsored activity by attendee
- Pollutant cleanup, plus 25% building value for debris removal
- Debris removal included in building limit (25% maximum) including fallen trees;$10,000 additional available
- Includes radio, television antennas and satellite dishes within 100' of covered building
- Anti-theft reward
- Fire extinguisher recharge, refrigerated products loss and automatic fire suppression recharge- blanket insurance
- "Fungus" wet or dry, rot or bacteria
- Physical damage or loss to detached church non-owned trailers
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* This is not a policy but a brief outline of possible coverage that you might obtain with your policy. Due to applicable state laws, certain coverages may not be available in your state. Please see your specific policy for exact details on coverage limitations and benefits. Policies are designed to meet the specific risks of each client; your needs may differ from another. Contact Phelps Financial Services for coverage availability and to discuss what your specific risk needs may require.
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OTHER OPTIONAL Policy Coverage Available*
| CRIME | Provides protection for causes of loss resulting from: - Theft of money & Securities (personal property and building parts included in special form property coverage)
- Employee dishonesty, officer, volunteer
- Forgery and alteration
- Theft/disappearance & destruction in/outside
- Excess fidelity
- Blanket fidelity (the normally written form for churches)
- Double coverage for Christmas, Easter, Thanksgiving, and another day of choice
| | INLAND MARINE | Protects against loss of items such as fine art, data processing equipment, musical instruments, cameras, maintenance equipment, lawn equipment, signs, minister's business property and other scheduled property that may move from location to location. This coverage is critical for those items that appreciate in value or are removed from a covered building since there is little or no coverage otherwise provided for them. | | EQUIPMENT BREAKDOWN | Protects against rupture/explosion of pressure equipment due to corrosion, electrical motor burnout resulting from overload and electrical arcing loss from loose connections. "MEPE" coverage provides basic and broad plans: - Spoilage coverage (only with broad form)
- Data restoration for covered causes of loss
- Expediting Expenses for covered causes of loss
- Animals & Hazardous substance
- Service interruption includes business income with included extra expenses (24 hour time deductible)
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* This is not a policy but a brief outline of possible coverage that you might obtain with your policy. Due to applicable state laws, certain coverages may not be available in your state. Please see your specific policy for exact details on coverage limitations and benefits. Policies are designed to meet the specific risks of each client; your needs may differ from another. Contact Phelps Financial Services for coverage availability and to discuss what your specific risk needs may require.
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Conditions & Clauses available to enhance coverage*
| Replacement Cost for Building and Personal Property or ACV | Replacement cost coverage is the insured value of the property that is necessary to allow for its current replacement of like kind and quality. The ACV coverage is the insured value that is equal to the current value based on the purchased price when bought, depreciated to its present value, factoring in- use and current condition factors. AVC is usually used for its tax advantage by businesses; however, for the religious organization, this would not be an advantage. Usually the ACV provision is only used in the religious organization program when a property is not in good condition or is of little value to the organization. | | Blanket provided coverage for Building and Personal Property | The blanket provision allows the coverage to be written as an amount that is equal to the replacement cost or ACV plan chosen of all buildings and personal property a client owns. This is an added layer of protection that can override a possible short insured value on a specific building, should a claim happen. Any shortfall can be covered by added value from another building or personal property value that was included in the blanket covered properties. This does require each building and its personal property to remain insured to value (replacement or ACV); it gives a premium benefit, but as things progress, this may develop a shortfall unknowingly, which would thus be covered by the blanket. | | Agreed value clause | This provision waves the possible co-insurance penalty if the provided coverage was insufficent to meet co-insurance requirements. Accordingly, the insurance company will give discounts if the building is properly insured to value, either ACV or replacement cost, whichever is the chosen policy plan. When property is not insured to value; where replacement cost requires an amount equal to the replacement value at the time of a loss, or ACV requires an amount equal to the current market value of the property. If the insured value does not meet this requirement, a co-insurance penalty is left against the claim so that a client could only collect in relation to the insured value. In simple terms, a $100,000 building insured for only $50,000 would only allow a claim to pay 50% of the claim. Thus, a $10,000 claim could only yield $5,000. |
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* This is not a policy but a brief outline of possible coverage that you might obtain with your policy. Due to applicable state laws, certain coverages may not be available in your state. Please see your specific policy for exact details on coverage limitations and benefits. Policies are designed to meet the specific risks of each client; your needs may differ from another. Contact Phelps Financial Services for coverage availability and to discuss what your specific risk needs may require.
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STANDARD LIABILITY COVERAGE PROVIDED BY THE CORNERSTONE PLUS*
| GENERAL LIABILITY | Coverage includes congregation members, employees (including ministers), officials and volunteers acting on behalf of the house of worship. This coverage protects the house of worship's legal liability (subject to aggregate and occurrence limits):
- Covers all premises owned
- For all activities "operations" conducted on or off the premises
- For products and completed operations (including food consumption at church sponsored activities)
- For advertising/personal injury liability (libel, slander and false arrest)
| | EXTRA COVERAGES INCLUDED | - New construction and alterations
- Volunteer workers and donated labor
- Ministers spiritual counseling and "lay" counseling
- Damage to property of others
- Worldwide coverage
- Ransom funds (limits equal to liability limit)
- Legal liability
- Defense costs- including court costs and attorney's fee
- Earning lost while in trial
- Expenses incurred testifying Newly-acquired premises and organizations
- Bail bonds
- Acts of authorized persons
- Fire legal liability
- Operation by independent contractors
- Incidental malpractice bodily injury
- Personal injury liabilities
- Additional insureds (employees, officers, volunteers, members)
- Church sponsored athletic activities
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* This is not a policy but a brief outline of possible coverage that you might obtain with your policy. Due to applicable state laws, certain coverages may not be available in your state. Please see your specific policy for exact details on coverage limitations and benefits. Policies are designed to meet the specific risks of each client; your needs may differ from another. Contact Phelps Financial Services for coverage availability and to discuss what your specific risk needs may require.
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SOME OF THE MAIN LIABILITY OPTIONS AVAILABLE; others are available as your risks are reviewed. Contact us for other specific liability options that may be necessary to properly cover your risks.*
| Non-Owned and Hired Auto Liability | Provides excess liability and medical coverage to the house of worship for legal liabilities arising out of the use of a non-owned or hired auto used by your organization. This includes watercraft, snowmobiles and some other recreational items. Optional physical damage coverage $40,000. Chosen limits available. | Directors, Officers
and Trustees Liability | Provides coverage for wrongful acts of house of worship directors, officers, trustees, business administrators and ministers, as is equal to the main policy limits. ( Included are volunteer director, officers, other leaders, teachers of Sunday School, youth group, children's programs) | | Employment Practices Liability | For organizations selecting Directors, Officers, and Trustees coverage, we now provide Employment Practices Liability (EPL).
Specific limits must be requested for coverage.
EPL insurance covers a religious institution in areas relating to employment, including discrimination, wrongful termination and sexual harassment. | | Sexual Misconduct Liability | Limits based on client qualifications or risk factors. | | Employee Benefit Liability | Provides coverage for your legal liability for injury to the rights and interests of employees or their beneficiaries, arising out of improper advice, error, or omission in the administration of employee benefits programs. Chosen limits must be made for coverage. | | Corporal Punishment | Optional, may be available. Coverage subject to client qualifications. | | Church Medical | Pays all reasonable medical expenses for injury, regardless of liability at the insured location or those events that part of the nature of your activities as included in the territorial defination your specific policy* (subject to aggregate and occurrence limits) for members, guests, and volunteer workers. Sunday School and other such students are covered in the base policy. For chosen limits *
- First aid at time of accident
- Necessary medical, surgical, X-ray and dental service
- Ambulance service as needed
- Emergency hospital treatment
- Eye glass and such if there is a provable injury sustained in their loss or damage
- Loss of life due to covered injury (limit depends on written policy limit)
Primary Coverage applies to:
- Sponsored events for incidents occurring on or off premises; policy limitations apply
Excess Coverage applies to:
- Church sponsored athletic activities, sports contests, training, etc.
Specific exclusions for students that can be added by endorsement for their medical coverage: - Day Care, nursey school, academies, church sponsored school, and college, students or other such schools.
- Interscholastic Athletics school sports for the listed schools above.
- Sunday School and other such students are covered in the base policy. for medical.
*Please note your policy for possible other exclusion and benefits that may apply with your specific policy.
| | Medical Options for Day Care and Schools | Provides excess payments of medical expenses for accidents resulting from activities scheduled and supervised by you or on your behalf. These activities may include sports contests; optional coverage can be added for interscholastic school sports) | | Interscholastic Athletics | Provides excess payments of medical expenses for accidents that might result from practicing, instructing or participating in athletic activities |
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* This is not a policy but a brief outline of possible medical coverage that you might obtain with your policy. Due to applicable state laws, certain coverages may not be available in your state. Please see your specific policy for exact details on coverage limitations and benefits. Policies are designed to meet the specific risks of each client; your needs may differ from another. Contact Phelps Financial Services for coverage availability and to discuss what your specific risk needs may require.________________________________
OTHER POLICIES YOU MAY NEED, WHICH ARE AVAILABLE from a variety of sources, to provide necessary coverage for your risks, some provided by others than GuideOne*
| Workers' Comp for Ohio accounts, employers gap coverage | Provides the necessary workers' comp coverage, in states other than Ohio, related to employment risks. In Ohio there is a gap in the Ohio state fund workers' comp program and a policy's general liability; the gap coverage covers this Ohio gap. For Ohio state fund info, please contact our office. For states other than Ohio, contact our office for policy info for your specific state. | | Business Auto | Provides coverage for your business auto, bodily and property damage, comprehensive, collision, medical, under/uninsured motorist, rental, road services by GuideOne. Click here for more info. | | Excess Liability "Umbrella" | Provides excess payments for liability claims above and beyond the standard policy. Please review your policy for specific limitations and exclusions. Click here for more info on this policy type. | | Key Person Life | The loss of a key person, or pastor can greatly reduce income and attendence, thereby forcing some churches to face added risk on top of the key person loss. Click here for more info on this policy type. Underwritten by Kansas City Life insurance Company | | Provided Housing funding, if the minsiter should die. Where will the family live when the home is needed for the new minister? | Provides funding through life insurance, where the church is the payer, owner, and beneficiary, which can be used to relocate a minister's family should a death occur while in the service of the church, and they live in provided housing. This could leave a church with some real issues to deal with. Click here for more info on this policy type. Underwritten by Kansas City Life insurance Company. | | Event Insurance | Medical coverage for Events and trips within the 48 states such as retreats, camping programs. Contact our office for more info on this policy type offered by Nationwide Casualty insurance Company that we offer for those special risks. For trips outside of the 48 states please contact our office for those offerings. We offer coverage for travel to most countries. | | Employee Benefit offerings | We offer churches a full range of employee benefits plans designed specifically for the special needs of church staff. - Retirement plans, 403b, etc. (these can be done in group or individual form, different plans can be used to meet individual desires or needs)
- Group life or individual life
- Group health or individual health
- Group Disability or individual disability, both long & short term
- Group Vision or individual vision
- Group Dental or individual dental
- Long term Care and group would yield a discounted premium
- Products and services at discount to meet individual needs, auto, home financing, phone services, alarm services, internet services, construction services, cell phones, tech equipment, financial planning, legal and accounting services, and others.
Click here for more info on these important benefits. A valuable employee today may not be so valuable in the future without these. These are offered from a variety of companies we represent, other than GuideOne. | | Foreign Travel Medical & Trip Policies | Medical coverage for foreign travel, medical, loss of life, etc. A coverage most often overlooked. Contact our office for more info on this policy type. These are offered by a variety of companies we represent, other than GuideOne. | | Owned Camp or Retreats Properties | These properties require special policies that the standard Cornerstone plan is not designed to offer. Please contact us for this specialized risk. This type of coverage is offered by GuideOne on selected properties that meet underwriting requirements through another policy plan. |
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* This is not a policy but a brief outline of possible coverage that you might obtain with your policy. Due to applicable state laws, certain coverages and policies may not be available in your state. Please see your specific policy for exact details on coverage limitations and benefits. Policies are designed to meet the specific risks of each client; your needs may differ from another. Contact Phelps Financial Services for coverage availability and to discuss what your specific risk needs may require.
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click here for some listed on our professional referral page; others can be connected with you by contacting Phelps Financial Services, Inc.* Any time your church needs a trusted source of assistance with business-related concerns, we likely can refer you to an experienced business or service provider whose record of service, value and integrity match our own. Added services you may take advantage of include: Construction - Financing
- Employee and volunteer screening
- Volume purchasing
- Electrical inspection
- Central Station Alarm installation and monitoring
- Phone systems and service
- Internet services
- Architecture and design
- Master Planning
- Risk Management services
- Roofing services
- Commercial vehicles at reduced rates
- Personal vehicles at reduced rates
- Catering services
- Water quality equipment installation and services
- Workshop on various subjects designed to assist your staff, paid and volunteer
- Resources that are current to meet the demands of today's culture
- Legal services
- Accounting services
- Heating & Air Conditioning services
- Web page design and hosting
- Data archiving
- Collision repair
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* The above products and services vary from state to state and within states; contact us for specific availability if in doubt, at Phelps Financial Services, Inc.
*Please note that these offerings are state and policy specific; please contact our office to be sure they are offered in full or in part for your state. This page is not designed to be a complete listing of the coverage benefits or exclusions but a brief outline. For a complete listing of the benefits and exclusions, please review your state specific GuideOne policy.* Please note that each policy type has certain underwriting qualifications which you may or may not qualify for. Policy plans are also client specific, designed to meet the specific needs of a specific client; since client risks vary, it is critical that you contact us to have us work with you to complete a comprehensive risk management and possible disaster study for the quality security and peace of mind your organization deserves. Call or email our office to have your qualifications reviewed by an agent for a quote. To receive a no-obligation quote, fax or email us a copy of your present insurance dec sheet that outlines your current plan of insurance and any other of your specific pages from your policy, usually 3 to 5 pages.. An agent will reply with a contact for an apt to review your data and your qualifications.
Phone: 614-899-6000
Fax: 614-899-6022
Toll free: 877-471-7997 for states we are licensed with.
Email : dphelps@phelpsfinancial.com
Our agency is licensed to offer insurance in the following states: CO, OH, MI, IL, IN, KY, TN, VA, WI, WV, with others being added. If you are in another state other then what we service, let us know and we will put you in touch with another agency that is like minded as we that can assist you. To request a no obligation quote and to have your qualification reviewed, please fax us a copy of your specifice policy pages from your current policy along with the completion of our short quote form. For a quote please email us with your contact information. Thanks. We look forward to serving you and your ministry.
Last updated 03/09