How a perfect storm sent church insurance rates skyrocketing
The church insurance market, like the insurance industry overall, has been hit with a perfect storm in recent years, including skyrocketing constructions costs and an ongoing wave of natural disasters
By BOB SMIETANA
Published - Jul 23, 2024, 05:49 PM ET
Last Updated - Jul 23, 2024, 05:49 PM EDT
(RNS) — The Rev. John Parks was taking his first sabbatical in 40 years of ministry when he got a call from his church’s accountant with some bad news.
Church Mutual, the church’s insurance company, had dropped them.
“This does not make sense,” Parks, the pastor of Ashford Community Church in Houston, recalls thinking at the time. “We’ve never filed a claim.”
Five months and 13 insurance companies later, the church finally found replacement coverage for $80,000 per year, up from the $23,000 they had been paying.
