Liability insurance

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sunrenay
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Liability insurance

Postby sunrenay » Tue 2009-11-10, 19:08:04

At the meeting, it was mentioned about one person having to take on the responsibility of getting an endorsement on their homeowner's policy to rent the hall for the Christmas party. As many of you know, I work in insurance (not as an agent) so I had my coworker look into it. Even though we don't have nonprofit status, our underwriter said she could approve a policy. She apparently explored our site a bit yesterday and I really wish I had a less obvious user name-lol. I will have a quote by the end of the day. I'm not sure how much the underwriter understood but it's a good starting place, right?

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GizmoGuy411
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Re: Liability insurance

Postby GizmoGuy411 » Wed 2009-11-11, 03:34:06

This sounds like great news!
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GoodDog
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Re: Liability insurance

Postby GoodDog » Wed 2009-11-11, 16:22:04

If it's cheap enough, this is great news. I put my insurance life on the line for each Christmas event. I wouldn't have done it with most groups, but geocachers by nature are pretty responsible people. Sill it's a risk that we could pay for. An event policy shoundn't be to much I would't think.

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sunrenay
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Re: Liability insurance

Postby sunrenay » Wed 2009-11-11, 19:29:13

It's a year long policy that covers the group for being sued, renting halls and equipment owned by the group. I'm fuzzy on the exact details of equipment but Denise said she'd fill me in once she gets a minute. She would also be happy to talk to anyone with questions.

It offers $1 mill liability per occurrence and $5000 in medical payments, $1000 for property. The rate is based off my address since we don't have a location or a leader at the moment and is $225. If anyone wants to shop their agent, don't call State Farm since that's where I work-lol. I can fax or email this to anyone who wants to look.

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GoodDog
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Re: Liability insurance

Postby GoodDog » Thu 2009-11-12, 00:18:31

yikes. We don't have that kind of money. we need a Christmas and Spring Event specific policy/rider

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sunrenay
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Re: Liability insurance

Postby sunrenay » Thu 2009-11-12, 04:03:44

Sadly, there is no such thing as an event only policy. An individual will have to continue buying endorsements on their existing policies.

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jslagle
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Re: Liability insurance

Postby jslagle » Thu 2009-11-12, 04:06:03

Actually, $225 to cover all events for a year up to a million doesn't seem too bad to me?
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sunrenay
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Re: Liability insurance

Postby sunrenay » Thu 2009-11-12, 04:16:02

Considering Jen told me she was going to fake an injury and sue for lost caching days, it's not a bad idea.

Seriously though, it's not a bad rate compared to some of the other liability policies I've looked at but we only write for State Farm so I can't compare to other companies. An event endorsement only runs $25 per event so it is cheaper but one person has to assume the risk for the whole group.
Last edited by sunrenay on Thu 2009-11-12, 19:22:22, edited 1 time in total.

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GoodDog
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Re: Liability insurance

Postby GoodDog » Thu 2009-11-12, 16:59:21

sunrenay wrote:. An event endorsement only runs $25 per event so it is cheaper but one person has to assume the risk for the whole group.



Hmmm. I have State farm and used my policy for the Christmas events, but they have never charged me anything.

If we had a source of regular income, $225 might not be bad, but we usually just break even. With having to pay for Christmas venues now, we may not even do that.

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sunrenay
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Re: Liability insurance

Postby sunrenay » Thu 2009-11-12, 19:52:18

GoodDog wrote:

Hmmm. I have State farm and used my policy for the Christmas events, but they have never charged me anything.


Not sure how you've managed that but count yourself lucky since endorsements run from $25 for $100,000 coverage to $50 for $1 mill. I'm hoping your agent doesn't have the same underwriter as us since we were told a group (as opposed to personal such as baby shower, wedding reception etc) activity wouldn't be covered under a homeowners policy. In the event a claim was made, SF would probably only extend the medical limits carried on the HO policy. Now that I've opened a can of worms here, it's safe to say I won't be able to volunteer to buy an endorsement any time in the future. :roll:


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