Insurance: Difference between revisions

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* What insurance should we ask if the landlord holds when leasing commercial space?
* What insurance should we ask if the landlord holds when leasing commercial space?
== Underwriter Paragraph ==
Insurance underwriters will want a single paragraph from us describing what it is we do. Here is a stab at it.
Please edit to size. Include more rather than less. If they tell us it's too expensive we can scale back
later.
Noisebridge is a membership organization that offers work space and storage for use by members and their
guests to pursue projects related to art and technology. Member projects may include electronics, with
soldering and electronics assembly, metal sculpture, and possibly fire arts.


== Insurance Agents and Contacts ==
== Insurance Agents and Contacts ==
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* Chicago Artists Resource explains Insurance for Art Spaces. Includes links to companies that write policies specifically for art spaces, but unfortunately those look Chicago-specific. http://www.chicagoartistsresource.org/?q=node/79
* Chicago Artists Resource explains Insurance for Art Spaces. Includes links to companies that write policies specifically for art spaces, but unfortunately those look Chicago-specific. http://www.chicagoartistsresource.org/?q=node/79


* Bonafide Insurance (Hartford affiliate). Called 22/01/08 around 2:30. Spoke with "Andrew", who took some info and promised to call back on 23/01/08. Andrew advised that insurance underwriters will want a single paragraph from us specifying what it is we do. This paragraph will be used to classify Noisebridge for insurance purposes. Ask [[DavidMolnar]] for Andrew's personal contact, office number is (415) 386-3636
* Bonafide Insurance (Hartford affiliate). Called 22/01/08 around 2:30. Spoke with "Andrew", who took some info and promised to call back on 23/01/08. Andrew advised that insurance underwriters will want a single paragraph from us specifying what it is we do and asked that we send him such a paragraph. This paragraph will be used to classify Noisebridge for insurance purposes. Ask [[DavidMolnar]] for Andrew's personal contact, office number is (415) 386-3636

Revision as of 16:06, 22 January 2008

This page collects questions, notes, and answers related to insurance we may need or want for the space.

Coverage Needed

This section describes potential scenarios and what kind of insurance may cover each scenario. Possibly we will not need to cover all scenarios. Break into sub-categories or annotate as needed (e.g. fire arts may need additional types of insurance).

  • Slip and fall: a Noisebridge member or guest slips and falls while visiting the space (or has some other kind of accident), then decides to sue. This is covered by X kind of insurance. (Fill in X). For Y coverage, a typical premium is W and the deductible is Z. (Also - if someone dies, is that covered by the same type of insurance?)
  • Burn damage: a fire breaks out and causes property damage to the Noisebridge space, possibly other spaces in the same building we do not own. This is covered by X kind of insurance. For Y coverage, a typical premium is W and the deductible is Z.
  • Misc. damage: something eats a hole in the floor, or a window breaks, or a computer emits magic smoke. This is covered by X kind of insurance. For Y coverage, a typical premium is W and the deductible is Z.
  • Electrocution, inhalation, saw oops: a member or guest injures himself/herself as part of a project. Unlike slip and fall, there is no lawsuit involved, but there are medical bills, etc. This is covered by X kind of insurance. For Y coverage, a typical premium is W and the deductible is Z. (Also - does this need to be covered by Noisebridge or is this up to the individual's health insurance only?)
  • Burglary: someone steals stuff from Noisebridge. This is covered by X kind of insurance. For Y coverage, a typical premium is W and the deductible is Z.

Org Questions

  • If several core individuals rent a space personally, can they jointly obtain insurance for the space?
  • If several core individuals rent a space personally, does one of them need to be at the space for the insurance to apply? What happens when one of the core individuals leaves Noisebridge?
  • What kinds of corporate entities can hold insurance for a space like Noisebridge? (e.g. non-profit corp, for-profit corp, limited liability partnership, limited liability corporation) Are there monetary benefits to having a corporate entity take out the insurance vs. several core individuals (i.e. will insurance companies give us a better rate) ?
  • What insurance should we ask if the landlord holds when leasing commercial space?

Underwriter Paragraph

Insurance underwriters will want a single paragraph from us describing what it is we do. Here is a stab at it. Please edit to size. Include more rather than less. If they tell us it's too expensive we can scale back later.

Noisebridge is a membership organization that offers work space and storage for use by members and their guests to pursue projects related to art and technology. Member projects may include electronics, with soldering and electronics assembly, metal sculpture, and possibly fire arts.

Insurance Agents and Contacts

This section contains links to agents or other sources that may offer information or quotes. Reports of quotes and discussions may go here as well.

  • Insurance for Techs (https://www.insurancefortechs.com/). Company specializing in liability insurance for small tech companies. Aimed at for-profit concerns, has some explanation of different insurance types.
  • Bonafide Insurance (Hartford affiliate). Called 22/01/08 around 2:30. Spoke with "Andrew", who took some info and promised to call back on 23/01/08. Andrew advised that insurance underwriters will want a single paragraph from us specifying what it is we do and asked that we send him such a paragraph. This paragraph will be used to classify Noisebridge for insurance purposes. Ask DavidMolnar for Andrew's personal contact, office number is (415) 386-3636