|Re: insurance||<– Date –> <– Thread –>|
|From: Stuart Joseph (stuartcaercoburn.org)|
|Date: Thu, 14 Jun 2007 10:37:43 -0700 (PDT)|
Leah,I would suggest getting the insurance. $1800.00 is a small price to pay, whatever the time frame, to protect yourselves and your project.
Think of the dangers that are inherent in your situation, especially during construction and the accidents that could happen with power tools, construction debris, etc.
If you got sued by someone that got hurt, not only could you lose your property and money if they won, but also consider the legal fees that you would have to pay.
Because other folks have taken a chance and not bought the insurance shouldn't affect your decision. I know in our area, we had a flood across the river in NH, and a number of folks didn't have flood insurance, their houses floated away, and now they have to figure out how they are going to rebuild.
There is an old joke about a farmer who gets arrested in the city for littering and is fined $2.00, but his lawyer tells him he can win the case. there are a number of things that happen and it escalates until the farmer is on death row. Through it all, the farmer keeps saying "pay the $2.00," and the lawyer keeps telling him they can win the case on appeal. In this case, with inflation, pay the $1800.00! <grin>
We are a 13 unit cohousing development that is expected to be completed in August. (by the way, we still have one unit available!) We have carried liability insurance from the time of construction until this week, at which time it runs out. At some point, we will be able to start our HOA insurance but we are thinking that won't be until construction is over in less than 2 months. The contractor has insurance but the insurance we had before would cover anything that was not considered the fault of the contractor and was blamed on us as the developers, including legal costs. For us to renew this it would be $1800 regardless of the fact that it is for such a short time. They would not reimburse us for using it for only part of the year. The insurance agent says most people don't get this kind of insurance and just take a chance that no one will get hurt. What have others done? Leah SchindlerBear Creek Village Ashland, Oregon--------------------------------- Yahoo! oneSearch: Finally, mobile search that gives answers, not web links. _________________________________________________________________ Cohousing-L mailing list -- Unsubscribe, archives and other info at: http://www.cohousing.org/cohousing-L/
-- Stuart Joseph, 802-463-1954 Project Director Caer Coburn, a traditional village based upon cohousing and intentional communities in Rockingham, Vermont, USA http://www.caercoburn.org Mail to: 36 Front St. Bellows Falls, VT 05101 USA
- Re: Insurance, (continued)
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