Automobile/Inland Marine Trust Fund

NCSBA continues to offer risk management protection to its membership through the NCSBT Errors and Omissions/General Liability Fund and the NCSBT Automobile/Inland Marine Fund.  One important benefit of participating in the NCSBT programs is that boards of education do not waive their governmental immunity from certain claims by participating in NCSBT.  Boards of education do waive their governmental immunity by purchasing commercial insurance.

Automobile/Inland Marine Trust fund provides coverage for members for claims arising out of the operation of vehicles owned and used by the school district, including vehicles borrowed, rented and leased by the school district. Excess coverage is also provided for school district employees while using their own vehicles for school district business. This excess coverage is over and above the coverage provided by the owner’s personal auto policy. The limits of liability of this fund are $1 million per accident. Higher limits of liability of coverage also are available.

Bodily injury, property damage, uninsured motorists, underinsured motorists and nonowned and hired vehicles are covered. Physical damage risks are also covered. There is a minimum $250 deductible for comprehensive physical damage and a minimum $500 deductible for collision physical damage. 

This fund also provides inland marine coverage which covers a school district’s miscellaneous property, such as band instruments, computer equipment and farm machinery.

*Covered claim amounts that exceed the NCSBT fund limits (retention) are covered by excess insurance.*