[hackerspaces] Insurance Advice (for US hackerspaces)

[James Carlson]

Thank you for sharing this information! For our space
Bucketworks<http://bucketworks.org/> and
level of insurance we have, here is the cost breakdown which correlates
with what you shared:

Annual costs:
Personal Property: $1569 - to protect member gear and stuff
General Liability: $1326 - $2m coverage
Computer equipment insurance: $168 - covers up to $25k hardware and $10k
software
Directors & Officers Liability: $352 - covers the board from personal
liability exposure -- I highly recommend every space has this type of
insurance!

Paul, would you mind if we document your information and link to it in
the Space
Federation's resources on
insurance<https://atrium.schoolfactory.org/spacefed/insurance>
?




On Sat, Dec 8, 2012 at 7:51 PM, Paul Brown <paul90brown at gmail.com> wrote:

> Dallas Makerspace has joined the league of US hackerspaces to successfully
> obtain the correct insurance policy. We took notes about the process and
> our current policy here: http://dallasmakerspace.org/wiki/Insurance
>
> The process started when our ~$500/year insurance policy provider informed
> us that our claims would be rejected because "the type of activities
> associated with your risk does not match the policy obtained". This means
> we were not properly classified. We found during the process that most
> insurance agents wanted to incorrectly classify us and quickly sell us a
> policy. However, we did find an agent willing to visit our hackerspace and
> explain to the insurance underwriters what we did (to confirm and document
> we were classified correctly). Here's general liability classification info:
>
> Class Code 41668: "Clubs- Civic, service or social- having buildings or
> premises owned or leased- Not for Profit only"
>
> All the quotes we received for 1 million $ in general liability (probably
> required in your lease) were above $1400/year. Number of members and
> revenue are big factors in how much your insurance will cost, but *you
> might not have the proper classification if you're only paying ~$500/year.
> *
>
> _______________________________________________
> Discuss mailing list
> Discuss at lists.hackerspaces.org
> http://lists.hackerspaces.org/mailman/listinfo/discuss
>
>
-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://lists.hackerspaces.org/pipermail/discuss/attachments/20121208/5c63b0e7/attachment.html>