Common Cycle in Ann Arbor, Michigan is hoping to transition from a mobile repair operation into a storefront cooperative.  We currently have a $1 million general liability insurance policy, and we pay around $700/yr for that coverage.

Our adviser suggested that we should get directors and officers insurance to protect the 10 board members above and beyond the $1M policy.

My questions: 

--> What insurance policies does your organization hold? How much do you pay for that coverage? 

--> Should Common Cycle purchase additional policies based on our move into a physical space? (in our case, physical space = more patrons served, so our liability may increase).

PS: yes, I see the info about insurance on the Wiki (http://w.bikecollectives.org/index.php?title=Insurance).  I am hoping that this thread can collect more personal insights / opinions which don't appear in the Wiki.

Thanks for reading,

Andrew

Common Cycle board member