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When the volcano erupts, we’re covered!

October 9, 2010

Why is it that insurance companies all have perky mascots these days? Do you feel better about buying a policy from a lizard? Most of the insurance folks we’ve talked to are not at all chipper, and mostly humanoid. They definitely fall into the category of  the extensive list of bankers we spoke to and the people we describe as Wa? when we tell them what we are doing. Hooray, we now have a policy in hand to cover the B.A.B. during construction!

We learned a couple of things while going over the policy. First, earthquake coverage goes together with coverage for volcanic eruption, but it doesn’t cover a tidal wave or mudslide. I think we’re ok there. Second, the policy has something they call a Green Endorsement. That means, if we have a feature, such as a green roof, that is damaged “by fire, lightning, explosion, theft or collision with aircraft or vehicles” they will cover putting the green roof back, not just a standard roof. They will also cover re-certifying the project, if we decide to do something like LEED, and any extra cost to recycling the debris. Pretty cool. I’m not too worried about “collision with aircraft”, but then again, Tom did sign up for helicopter lessons. Thank you Groupon.

Our broker is already beginning to research how to get us covered once we move in. Apparently, insurance companies don’t like the idea of folks living in a corner of a semi-renovated building. They also don’t know how to put a realistic replacement cost for something like the B.A.B., which is understandable. Buildings just aren’t built like this one anymore.

A shout-out goes to our creative insurance guy, Peter Baxendale of Missouri General Insurance. Thanks Peter!

5 Comments leave one →
  1. Dan Mitchell permalink
    October 9, 2010 11:52 am

    Better take a closer look at our insurance coverage in Colorado to make sure we are covered for the big flood at 7,600 feet.

    • Tom permalink*
      October 13, 2010 12:31 am

      Never know – there’s that story of Noah you know…


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