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Insurance is one of the more difficult situations to go over with a Chartering Organization. This is mostly because Insurance is an expense and many Unit have assumed that the CO's general insurance policies will cover their assets. Many have not looked into how their Trailers and equipment are or are not covered.
With Chartered Org, we will work together to figure out the amount of Insurance your Unit needs. Insurance for Trailers and Equipment will be established by building a complete inventory, taking pictures and building a list of Replacement Items of Like Kind and Quality. Not only does this help establish how much coverage is needed, but it also have the ability to be a list for a Claim against the policy. It has the added value of giving the Quartermaster experience in understanding what the Unit owns, and what value it all has.
A sample application is below the description of coverage:
The application will be filled out by the Chartering Organization.
Types of Coverage:
General Liability is coverage for the Chartered Org (Corporation) as it operates outside of BSA
Extended Medical & Media Liability will not be used.
Directors & Officers Liability is also for the Chartered Org.
Fidelity Bond (Crime) insurance will cover the financial assets and bank accounts.
Inland Marine is what will cover the Trailer while it is being stored, or not on a vehicle, as well as it's contents. Other equiptment will be included on this policy.
The last two Coverage Options will have limits and costs determined based on the Unit's assets.
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