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
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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