any 501c3s out there have 'directors' insurance'
what does it generally cost?
for ten years we have had no insurance... we are now operating in our own building and are actually a 501(c)3, though still entirely volunteer operated... and starting to figure out the insurance thing.
andrew Troy Bike Rescue http://www.troybikrescue.org
any 501c3s out there have 'directors' insurance' what does it generally cost?
We are in the process of covering ourselves above and beyond the liability insurance we currently have with the addition of insurance that will cover our Board of Directors. The numbers have been quoted thus far are $850 per year for $1 million in coverage. Our research also turned up another source that was $100 less than this but required increasing our liability insurance by $150.
Sam H bozemanbikekitchen.org
If your organization joins the League of American Bicyclists, you can get affordable insurance through American Specialty. You can purchase coverage for activities related to bicycle refurbishment. They offer coverage for Directors for $550/year. You can find details at www.amerspec.com/lab
We don't have the Directors coverage (we have nonprofit status under a fiscal sponsor). Otherwise I think we have appropriate and affordable coverage under them.
-Paul
The Bicycle Tree P.O. Box 11293 Santa Ana, CA 92711 http://www.thebicycletree.org info@thebicycletree.org
Date: Thu, 16 Jun 2011 19:22:41 -0400 From: anyone@breathingplanet.net To: thethinktank@bikecollectives.org Subject: [TheThinkTank] Directors insurance
any 501c3s out there have 'directors' insurance'
what does it generally cost?
for ten years we have had no insurance... we are now operating in our own building and are actually a 501(c)3, though still entirely volunteer operated... and starting to figure out the insurance thing.
andrew Troy Bike Rescue http://www.troybikrescue.org
Thethinktank mailing list Thethinktank@lists.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...
Anything from $500-800 is pretty standard for non-profits. But that doesn't cover liability in the shop or your general operations. I seem to recall a conversation a while back where many on the list chipped in on how much their insurance was. We've got a solid policy and pay almost $3k (includes director's insurance). It took contacting a number of people to get that amount, though, as a number of agents who didn't really understand the operation were quoting around $7-8k. Cheers, Clifford
On 11-06-16 7:43 PM, The Bicycle Tree wrote:
If your organization joins the League of American Bicyclists, you can get affordable insurance through American Specialty. You can purchase coverage for activities related to bicycle refurbishment. They offer coverage for Directors for $550/year. You can find details at www.amerspec.com/*lab*
We don't have the Directors coverage (we have nonprofit status under a fiscal sponsor). Otherwise I think we have appropriate and affordable coverage under them.
-Paul
The Bicycle Tree P.O. Box 11293 Santa Ana, CA 92711 http://www.thebicycletree.org info@thebicycletree.org
Date: Thu, 16 Jun 2011 19:22:41 -0400 From: anyone@breathingplanet.net To: thethinktank@bikecollectives.org Subject: [TheThinkTank] Directors insurance
any 501c3s out there have 'directors' insurance'
what does it generally cost?
for ten years we have had no insurance... we are now operating in our own building and are actually a 501(c)3, though still entirely
volunteer
operated... and starting to figure out the insurance thing.
andrew Troy Bike Rescue http://www.troybikrescue.org
Thethinktank mailing list Thethinktank@lists.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...
Thethinktank mailing list Thethinktank@lists.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...
participants (4)
-
andrew -
Clifford McCarten [B!KE] -
Sam Haraldson -
The Bicycle Tree