Board Minutes August 2024: Difference between revisions
→Value for Insurance Replacement Costs (Marcel - 15 mins)
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=== Value for Insurance Replacement Costs (Marcel - 15 mins)=== | === Value for Insurance Replacement Costs (Marcel - 15 mins)=== | ||
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* | * Insurance agent viewed the shop and felt $36k was way too low. Do we need volunteers to take a more-detailed inventory? It should cover our whole cost to build back after a disaster. Ex rebuilding the mezzanine was done with volunteers, but would have to be paid for if we had to rebuild again quickly. Colin and Sarah feel it's not a big priority right now. Sarah thinks we could just ballpark it at $200k and defer a full inventory-- in her experience the difference in premium is minimal. We would not insure used bikes, because it doesn't make sense to repurchase those new even in the event of a fire or etc-- perhaps some measure of the value of put in by bike builders should be reflected. The storage unit would also need insurance, though much less. | ||
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