Insurance

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.

• 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 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. Did not have a chance to discuss partnership vs. nonprofit corp implications.

• J.B. Shea (415) 661-4777. Left message for "Jack" on 22/01/08

• HRH Insurance (415) 835-1000. Affiliate of Firemans Fund, which offers an art studio insurance program. Left message on 22/01/08

• Roanoke Insurance - does shipping firms only, does not do small business

• Allstate Agent M. Mahoney - left message 22/01/08

• Carpenter and Moore - (415) 243-2301 . Spoke with Carrina Williams. They specialize in wrongful act insurance for officers and directors of nonprofits. Sounds like we don't need this. Suggested we speak with a large insurer like AAA, Allstate, etc.

• Sweet and Baker - (415) 512-2100. Hartford affiliate. Left message 22/01/08

• Miwaki, Imai, and Fujita - (415) 247-1610. Spoke with "Pauline" on 22/01/08. Wanted to know approx ZIP code,

approx sq. ft. (told her 1200-1400), and wanted to see a web site. Asked if we would be storing members' laptops overnight. Asked what kind of electronics equipment we wanted insured against theft. We briefly talked about partnership vs. nonprofit corp -- it does not make a difference to their rates, but because we are a new business their underwriter is going to take a close look at us, esp. if we are a formal non-profit. Promised to get back to us with more information on 23/01/08.

• Diane McCullagh, Allstate agent - (415) 759-3800. "This number is busy or out of service."