How a Perfect Storm Sent Church Insurance Rates Skyrocketing.

The insurance industry is facing challenges due to a series of natural disasters and rising construction costs post-COVID. Insurance companies specializing in insuring churches, such as Church Mutual, GuideOne, and Brotherhood Mutual, have seen their reserves shrink, leading them to drop churches they consider high risk. This has left many churches scrambling to find replacement coverage, often at a steep increase in cost. The church insurance market is difficult to insure due to the unique risks associated with churches, such as being open to the public, working with diverse populations, and having large and expensive buildings. The insurance industry's challenges have resulted in higher rates and policy cancellations for churches, causing financial strain and impacting their ability to carry out ministry. [Extracted from the article]