Insurance & risk issues
Insurance has long been a â€˜necessary evilâ€™ for time banks â€“ â€˜necessaryâ€™ because they can face catastrophe if they donâ€™t have any, and â€˜evilâ€™ because it has traditionally been expensive, complicated in its wording, and a chore to buy. It is also often difficult for insurance companies to grasp the concept of timebanking. We suggest that you get quotes from a number of different insurers prior to taking out your insurance policy.
There are a number of insurance companies willing to insure timebanks that are members of Timebanking UK.
We should now highlight the fact that time banks that can show they have signed up to our working declaration (this is a new form for time banks) and achieved our Quality Mark (separate form available on request) may receive discounted rates.
Time banks that are not members of Timebanking UK or who have not signed the working declaration may be refused insurance.
For further info and contact details to specialised insurance companies, please log in our members area.
If you would like to work with Timebanking UK as a partner, please contact Sarah Bird via Email.1. Helpful documents
- Top tips presentation for community time banks
Type:Â Â Submitted by: Fair Shares Gloucester