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
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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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.comwrote:
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
Thethinktank mailing list Thethinktank@bikecollectives.org To unsubscribe, send a blank email to TheThinkTank-leave@bikecollectives.org To manage your subscription, plase visit:
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-- Liza Mattana president www.pedals2people.org Spokane, WA
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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 mailto: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 <mailto: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 <http://1304bikes.org> _______________________________________________ Thethinktank mailing list Thethinktank@bikecollectives.org <mailto:Thethinktank@bikecollectives.org> To unsubscribe, send a blank email to TheThinkTank-leave@bikecollectives.org <mailto:TheThinkTank-leave@bikecollectives.org> To manage your subscription, plase visit: http://lists.bikecollectives.org/listinfo.cgi/thethinktank-bikecollectives.org -- Liza Mattana president www.pedals2people.org <http://www.pedals2people.org> Spokane, WA _______________________________________________ Thethinktank mailing list Thethinktank@bikecollectives.org <mailto:Thethinktank@bikecollectives.org> To unsubscribe, send a blank email to TheThinkTank-leave@bikecollectives.org <mailto:TheThinkTank-leave@bikecollectives.org> To manage your subscription, plase visit: http://lists.bikecollectives.org/listinfo.cgi/thethinktank-bikecollectives.org-- Sopo Bicycle Cooperative 404-425-9989 www.sopobikes.org http://www.sopobikes.org
Hours of operation: Tues, Wed, & Thurs 7 pm - 10 pm Sat & Sun 2 pm - 6 pm
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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
Sure. Producer: The Galish Group Insurer: Occidental Fire and and Casualty Co. Coverage: Commercial General Liability
I'm not sure about the other details, but we did have to hang up a "ride at your own risk" sign, get a a fire extinguisher, and do a couple other little things to make the place appear safer. Also, we do a background check on anyone hired to work with the kids because that helps on a few liability oriented fronts.
-rachael
On Wed, Apr 29, 2009 at 1:15 PM, The Bicycle Tree paul@thebicycletree.orgwrote:
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.comwrote:
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
Thethinktank mailing list Thethinktank@bikecollectives.org To unsubscribe, send a blank email to TheThinkTank-leave@bikecollectives.org To manage your subscription, plase visit:
http://lists.bikecollectives.org/listinfo.cgi/thethinktank-bikecollectives.o...
-- Liza Mattana president www.pedals2people.org Spokane, WA
Thethinktank mailing list Thethinktank@bikecollectives.org To unsubscribe, send a blank email to TheThinkTank-leave@bikecollectives.org To manage your subscription, plase visit:
http://lists.bikecollectives.org/listinfo.cgi/thethinktank-bikecollectives.o...
-- 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
Thethinktank mailing list Thethinktank@bikecollectives.org To unsubscribe, send a blank email to TheThinkTank-leave@bikecollectives.org To manage your subscription, plase visit: http://lists.bikecollectives.org/listinfo.cgi/thethinktank-bikecollectives.o...
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participants (5)
-
1304bikes -
Liza Mattana -
R Points -
rachael spiewak -
The Bicycle Tree