School plants are indispensable for effective realization of school goals and objectives. This is because the successful implementation of school curriculum is dependent on the school plants, which refer to the physical facilities available in the school system, that are provided in the school. The insurance of school plants serves as a means of safeguarding them in the event of risks. This paper therefore looked at the place of insurance company in school plants in Nigeria. The paper examined some concepts on the key terms, the components of school plants, the advantages of insuring school plants, the challenges faced by insurance company in the events of insuring school plants in Nigeria and proffered solutions. The paper concluded that in the event of damages and other hazards to school plants, insurance companies will be held responsible for the renewing, repair and reconstruction of school plants in the school. Finally, the paper suggested the following among others that government at the different levels i.e. Federal, State and Local should enforce the insurance of school plants for both government and private schools.