I second this comment. We have the hartford at redtap (redtap.com)
and we told them it was a retail/cafe, and the owners were the
business partners, and the co-workers were really just retail walk in
customers, so there's no 'splaining to do. If you've got a huge
space, then maybe they look at things a bit differently. The key is,
remember, your name or your business is on the lease presumably, so
therefore you need to carry the insurance to cover yourself, your
business, and the assets therein. In SF, we have lots of petty crime
like burglaries, theft, and vandalism. For the more expensive items,
like $3K laptop/computers, you want to make sure these are itemized or
included in the coverage you get. Remember, the $500 deductible is
great for keeping the costs down, but not great for covering petty
theft and vandalism that may occur. For example, a broken window will
cost you $100, and that is just an out of pocket expense, a loss. You
can't use your insurance for stuff like that.
On Wed, Sep 10, 2008 at 2:31 PM, Derek Young <[email protected]> wrote:
We were required by our landlord to carry a couple million dollar policy. It
wasn't a problem to get through a local broker. We explained that we were an
office service and most folks would be doing office-type jobs. We never
mentioned our fire retardant pajama tester, but it only took a few days to
finalize. Plus, it was pretty darn cheap.
A broker should be able to figure it out. We ultimately ended up with The
Hartford I believe.
Our lesson very early on in the process was to forget about explaining the
rational behind coworking. If you tell them it's something new, folks seem
to get worried. If you describe coworking using a long understood business
vocabulary, things moved along smoothly.
On 9/10/08 1:46 PM, "Kelly Brown" <[email protected]> wrote:
I just got off the phone with our insurer and they are having a heck
of a time trying to get an underwriter for us. It looks like they're
going to get it done -- but I can't believe it'd even be an issue.
We're really just renting office space and then allowing people to
come in and work.
(Some of) The underwriters are saying they need to know what each and
every member's company does as there's risk associated with it --
(like one of us might be testing fire retardant pajamas in the
Anywhoo -- anyone else run into trouble?
Anyone have any guidance on how they got their places insured to meet
the landlord requirements?
Any leads on coworking friendly insurers?
Office Space Coworking