Re: Insurance

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Rich & LeAnn (rlhoffmann@frontiernet.net)
Mon, 16 Jun 2008 21:23:34 -0500



Message-ID: <31B1B888788343BFBBAE1942ABBDAC69@ComputerPC>
From: "Rich & LeAnn" <rlhoffmann@frontiernet.net>
Subject: Re: Insurance
Date: Mon, 16 Jun 2008 21:23:34 -0500

Thank you very much for the information Susan. We will look into this.

Rich
  ----- Original Message -----
  From: Baker, Susan K - WHS
  To: localhistory@listserve.uwec.edu
  Sent: Monday, June 16, 2008 9:53 AM
  Subject: RE: Insurance

  You have some important questions. There is no simple answer. Consider forming an ad hoc committee of people who have business experience to investigate your options and weigh the alternatives.

   

  Even if you choose not to insure your collections, be sure to carry liability insurance to protect your organization from the inevitable injury at your site to visitors and volunteers.

   

  Also, consider Directors and Officers insurance to protect the board against errors and omissions.

   

  Insurance on collections has been debated extensively on AAM's list serve (Museum-L). You may want to get on AAM's website and check the archived discussions. You will need to be a member to access this. Look at The American Association of State and Local History website as well.

   

  Whether to carry insurance on your collections should be done with plenty of thought. Determine from your insurance sources what it will cost to cover your building/s. Consider the questions below relative to your building/s and artifacts.

   

    1.. What do you have in your collection?
    2.. Can the items be replaced?
    3.. Are there key artifacts that should be considered separately?
    4.. Would you replace your artifacts and/or buildings if what you have was damaged (or artifacts stolen)?
    5.. How much would it cost?
    6.. How much are you willing to pay each year for that protection?
    7.. What are some alternatives to carrying insurance on everything?
   

  These are a few of the questions that need to be discussed.

  Some organizations choose to not cover their artifacts because of the answers they conclude to the questions above along with other questions.

   

  Sources of insurance -- You may need to procure insurance from different places for the different types of insurance. If your organization is connected to a municipality, start by talking to someone in the government about possible options through it. Do you know an insurance person you trust? Once you learn whether you have options through government, learn what options you have through various insurance avenues. (Government options are likely to be less costly than private.)

   

  Good luck!

   

  Susan K. Baker

  Special Events Manager

  Wisconsin Historical Foundation

  816 State Street

  PO Box 260050

  Madison, WI 53726-0050

  608-261-1856 Tel

  608-264-6542 Fax

  susan.baker@wisconsinhistory.org

   

  This message contains confidential and proprietary information and is intended only for the person(s) to whom it is addressed. Any use, distribution, copying or disclosure by any other person is prohibited. If you have received this message in error, please notify the e-mail sender immediately, and delete the message without making a copy.

   

-------------------------------------------------------------------------
-----

  From: localhistory-request@listserve.uwec.edu
[mailto:localhistory-request@listserve.uwec.edu] On Behalf Of Rich & LeAnn
  Sent: Thursday, June 12, 2008 8:50 PM
  To: localhistory@listserve.uwec.edu
  Subject: Insurance

   

  List Serve Members,

   

  I hope I am sending these questions out right to the members. Should Historical Societies carry liability insurance if so how much? And who would people recommend to insure with if so? Also does everyone insure their collections, buildings, etc. If so where does one go to get this type of protection?

  This list serve is excellent and I have learned alot. If anyone has any answers for me it would be greatly appreciated.

   

  Rich Hoffmann

  President

  Shawano County Historical Society



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