On Wed, Apr 29, 2009 at 1:15 PM, The Bicycle Tree <paul@thebicycletree.org> wrote:

Can either of you (Rich or Rachael) tell me who your insurers are? We're currently looking to get covered, and were told it would be $1,500 - $2,000 /yr by a State Farm agent. And we don't even have a shop right now, we're just doing monthly workshops in a parking lot! A factor that raised the quote immensely was that we work with children sometimes, but I know you guys do, too. I've heard of an established bike cooperative in this region (Southern California) that pays about $1,500 / year. I'm don't know how geographic location can figure into policy costs.

Also, does your "med pay" cover volunteers? I was told volunteers would not be covered, and also told that we should have volunteers sign a waiver acknowledging they are not being paid for their services.

Thanks,

Paul

The Bicycle Tree
http://www.thebicycletree.org

Date: Wed, 29 Apr 2009 10:11:27 -0600
From: poster@richpoints.com
To: thethinktank@bikecollectives.org
Subject: Re: [TheThinkTank] Insurance
Our policy at Community Cycles has very similar coverage but costs us a hundred bucks more.

Rich

rachael spiewak wrote:
Here is what an insurance agent in our community found for us:

$1,000,000    General liability

$1,000,000    Products/Completed Operations

$1,000,000    Personal & Advertising Injury

$   100,000    Fire Legal Liability

$      5,000    Med Pay

Total 12 month premium $742.00.

Apparently, we could have added terrorism coverage for another 7 bucks.

Thankfully, we've never needed this for anything other than getting our distributor account and complying with our lease.

Thanks!
Rachael//Sopo Bikes//ATL

On Wed, Apr 29, 2009 at 11:47 AM, Liza Mattana <pedals2people@gmail.com> wrote:

I like this question because I wonder if we're paying too much, but it is insurance, and just the nature of it makes me question if we're paying too much for too little.

We have commercial general liability insurance, and we pay over $900 a year. $750 for the premium and $150 for the "policy fee." For what type of business, our policy says that we are "org including a corporations."

We sell some bikes, offer a shop where people can rent space/tools and work on their own bikes, and we do free tune-ups in the community.

Liza

On Wed, Apr 29, 2009 at 6:00 AM, 1304bikes <1304bikes@gmail.com> wrote:

Hi all, we here at 1304bikes in Raleigh are getting ready to possibly move out from the building of our fiscal sponsor. We have applied for our own 501(c)(3) status, and are going to start shopping around for insurance. The thing is, we have no idea what to look for in coverage, and what is an acceptable price range. If anyone would be willing to share how much they pay a year and what it covers, we would greatly appreciate it.

We are incorporated as a non-profit, and all our bikes are either given away to children, earned through our Adult EAB program, or given out through other established non-profits. We do not sell anything, and don't have a business license, so we may not need any sort of business insurance if such a things exists.

Thanks for the help!

for 1304bikes,

-Doug

--
1304bikes
2419 Mayview Rd.
Raleigh, NC
1304bikes.org

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Liza Mattana
president
www.pedals2people.org
Spokane, WA

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Sopo Bicycle Cooperative
404-425-9989
www.sopobikes.org
* * * * * * * * * * * * * * *
Hours of operation:
Tues, Wed, & Thurs 7 pm - 10 pm
Sat & Sun 2 pm - 6 pm
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