Insurance for a Community-Based Team?

[Jimmy Nichols]

We are preparing to sign a lease for a new home at a local mall. We are in the process of quoting insurance's. We have received 1 quote and 1 company refused to quote due to the fact that we would have teenagers present. So, the question came up will we have issues with the company that did quote, as the agent seemed hesitant that the parent company would approve it.

I know there are other teams out there that do not work at the school and must carry their own insurance. My question is who do you use?

Thanks!

[ebarker]

We just took possession of a commercial facility. We have a business insurance policy that covers basic property and casualty protection for the building owner and the tenant. It isn't very expensive.

Risk mitigation - we do the same thing that occurs in any real well run company. It doesn't matter if you have teenagers or adults you have to address things including the following

• employee contract - training, rules, procedures, and dismissal policy.
• training requirements
• zero-tolerance for teenage stupid, or even adult stupid. ( "Hey, what if we......" ) - not going there, no way no how

Just think about if you were running a chemical or industrial plant, with adults - same issues - supervision, training, discipline


Liability & Medical Expense - Each Occurence $ 1,000,000
Personal & Advertising Injury LImit $ 1,000,000
Damage to premise $ 500,000
Aggregate Limit - products completed operation $ 2,000,000
aggregate limit - except products complete operation $ 2,000,000
medical expense limit - per person $ 10,000

and a bunch more stuff.................................

[Jimmy Nichols]

Originally Posted by ebarker

We just took possession of a commercial facility. We have a business insurance policy that covers basic property and casualty protection for the building owner and the tenant. It isn't very expensive.

Risk mitigation - we do the same thing that occurs in any real well run company. It doesn't matter if you have teenagers or adults you have to address things including the following

• employee contract - training, rules, procedures, and dismissal policy.
• training requirements
• zero-tolerance for teenage stupid, or even adult stupid. ( "Hey, what if we......" ) - not going there, no way no how

Just think about if you were running a chemical or industrial plant, with adults - same issues - supervision, training, discipline


Liability & Medical Expense - Each Occurence $ 1,000,000
Personal & Advertising Injury LImit $ 1,000,000
Damage to premise $ 500,000
Aggregate Limit - products completed operation $ 2,000,000
aggregate limit - except products complete operation $ 2,000,000
medical expense limit - per person $ 10,000

and a bunch more stuff.................................

Beginning of your policy looks very similar to the one quote we received, not expensive at all was $500 for 1 year. As soon as the 2nd company heard the word teenager, regardless of training courses in place, etc, they no quoted us. Which insurance company did you use?

[Carol]

There are many teams and organizaitons that have insurance - MOE's 501c3, First State Robotics, has insurance that covers not just MOE but also the FTC, FLL, and JFLL programs that it runs. Instead of approaching insurance COMPANIES you should approach an independent insurance AGENCY who can write policies for any company. The agent will know which company will handle your needs.

For example, First State Robotics has coverage through Great American Insurance Co., which covers liability and executive liability (to protect the mentors and other adults). But we got it through a local agency, New Castle Associates.

I can give you more details if you PM me. And fair warning, this type of broad coverage is not cheap - expect to pay in the four figures.

Other teams such as Exploding Bacon has gotten coverage through organizations such as 4-H, if this is applicable to you.

[ebarker]

As Carol stated, dealing with an independent insurance agent is the way to go. Your local homeowners agent may be able to suggest a knowledgeable independent agent that has experience with non-profits and/or business.

The policy we got was $ 539. It was underwritten by The Main Street America Group.

Make sure you get coverage to protect the tenant and landlord against casualty and property.

It should be easy to find a good agent.

[Jimmy Nichols]

Great Information! Thank you much Carol and Ed. I personally use an insurance broker (independent agent) and I had not contacted my agent yet, as we were just starting the search and another mentor had taken ownership of the search when he hit upon the one agency who no-quoted him. But having the information from you-all will certainly make it a bit easier for us to locate someone.

THANKS!