Hackerspaces are Hard: Insurance

Do you dream of opening a hackerspace, makerspace, or co-working space? Maybe it’s in the works and you’re already scoping out locations, intoxicated by visions of all the projects that will emerge from it. Here’s a sobering thought: makerspaces are a great big pile of risk. If the doors of your ‘space are already open, perhaps you’ve come to realize that the initial insurance policy you signed doesn’t really fit the needs of your particular creative paradise. Even if it does, the protection you need will change as you acquire new toys.

So why should you even get insurance? For one thing, your landlord will probably require it. If you own the building, you should insure it to protect yourself and anyone who uses the space. Do it for the same reason you’d insure a car, your house, or your collection of vintage pinball machines: to mitigate risk. It takes a lot of hard work to open a makerspace, perform the day-to-day operations, and keep it growing and getting better. Whenever the unthinkable happens, insurance will protect your investment as well as the people who make it a great place to be.

In researching this article, I contacted several well-established makerspaces in the United States as well as most of the major insurance providers to get both sides of the story. My intent was not to make a how-to guide, but to simply explore the topic and provide a view of the process and the struggle.

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How To Set Up And Run A Makerspace

A bunch of people who share a large workshop and meet on a regular basis to do projects and get some input. A place where kids can learn to build robots instead of becoming robots. A little community-driven factory, or just a lair for hackers. The world needs more of these spaces, and every hackerspace, makerspace or fab lab has its very own way of making it work. Nevertheless, when and if problems and challenges show up – they are always the same – almost stereotypically, so avoid some of the pitfalls and make use of the learnings from almost a decade of makerspacing to get it just right. Let’s take a look at just what it takes to get one of these spaces up and running well.

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Progressive MyRate hackable?

Progressive Insurance announced that it will be rolling out its MyRate plan nationally. You participate by plugging a monitoring device into the ODB-II port on your vehicle. Once every six months you upload the collected data from every trip you’ve made. You’ll receive at least a 5% discount and maybe more based on your driving habits. In some states though, you could actually have your rates raised. Progressive will show you the direct impact your driving behavior has on your rate.

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