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Christine,

As someone who has worked both in the museum and insurance field, I would have them shop their insurance and see what other options are available in their community. Chubb Insurance for Cultural Institutions could be a good option (http://www.chubb.com/businesses/cci/chubb5058.html). However, their minimum property limit looks to be $500,000. Philadelphia Insurance (https://www.phly.com/Products/Museum.aspx) also has a program.

Their agent may feel that they are under insured, but at the end of the day, it is more important to have some coverage, then price themselves out of any and all insurance. As with any other consumer product, they shouldn't feel stuck with something that is cost prohibitive or doesn't fit their needs.

If you have any other questions, I'm happy to talk off line.

Nora Hanna

On Wed, May 4, 2016 at 7:46 AM, Christine Mouw <[log in to unmask]> wrote:

I've been asked by an acquaintance who isn't on the list to post this question. I'll pass on any answers to him. Thanks!!

The West Branch (Iowa) Heritage Museum was recently told they needed to
increase their insurance from $300,000/year to at least $1 million
and don’t think they have enough money to sustain that level of coverage
(at about $1 thousand/year). They do not have any staff, just a volunteer
board, and are only open sporadically. They heard that some county level
small museums don’t have coverage for contents, just buildings and
coverage for loaned exhibits.

So the question is what is the path forward they should they pursue. Find
a way to pay for the insurance? Just cover the building and loaned items?
No insurance at all?

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