Instructor Insurance

[LUBOLD8431]

Last year my insurance was $440 thru SSI. I think they were saying that the increase this year was going to make it around $500.

I'm just glad that its tax deductible, and the fact that I derive about six times that from instruction, so I dont feel that bad about it...

However, it is still a big chunk of my pay this month... i am not looking forward to paying it next month...

 

[pt40fathoms]

Rates are up everywhere. I did a lot of shopping around and found out that the LDS that I work with exclusively can add me to their policy for no extra cost. It will only cover me when I work for them, but as they are the only shop I work for, that little detail is not a concern. Saves me and about 9 other people who work for them over $600.00 each, and the Dive Shop comes away looking like heroes. The best part is the low life; money grubbing, insurance companies don't get to fleece us out of thousands of dollars. Only to try everything legal and some not so legal maneuvers to not pay a claim when it is filed. (Personal experience, not related to diving, but I've come to realize that they all try to get out of honoring claims and are not nice people. Unless they are trying to sell you insurance.)

 

[Lead_carrier]

pt40fathoms once bubbled...
Rates are up everywhere. I did a lot of shopping around and found out that the LDS that I work with exclusively can add me to their policy for no extra cost. It will only cover me when I work for them, but as they are the only shop I work for, that little detail is not a concern. Saves me and about 9 other people ...

I am not absolutely sure but I believe that any SSI or NAUI shop that has 10 instructors or DM's can get the same policy where the shop buys an umbrella policy for their employees and the employees just pay the shop. Check it out to be sure. IT could save a bunch.

 

[jbd]

insurance will be $499 this year.

 

[ElectricZombie]

jbd once bubbled...
insurance will be $499 this year.

I am not going to renew and will just quit teaching. :upset:

I was only doing it for fun so, I guess it does not really matter.

 

[jbd]

PADI instructors got clobbered with their premium increase. Cudachaser is facing a 23.8% increase this year. The increase for NAUI is 13.4%.

Has the liability exposure really gone up that much to teach scuba diving? Does anyone know of some major court settlement that has convinced the insurance companies that teaching scuba is so very much more dangerous now?

How frequently are scuba instructors sued and how many of those suits go against the instructor?

Does anyone know what the largest award was for a suit lost by a scuba instructor?

I know people who teach activities that are more "dangerous" than scuba and these people pay far less for their liability insurance than we do.

 

[Drew Sailbum]

My insurance through PADI's broker V&B dropped substantially.

Last year was $774 including the surcharge for TecRec. This year I can buy in under my shop's policy for the same coverage for only $475.

 

[ScubaCrossing]

Gale & Smith have posted their 03-04 Instructor Insurance rates. and itsssssssssssss $486.88 gotta love that!


http://www.scubainsurance.net/Inst0304.pdf

 

[devilfish]

jbd once bubbled...
PADI instructors got clobbered with their premium increase. Cudachaser is facing a 23.8% increase this year. The increase for NAUI is 13.4%.

Has the liability exposure really gone up that much to teach scuba diving? Does anyone know of some major court settlement that has convinced the insurance companies that teaching scuba is so very much more dangerous now?

How frequently are scuba instructors sued and how many of those suits go against the instructor?

Does anyone know what the largest award was for a suit lost by a scuba instructor?

I know people who teach activities that are more "dangerous" than scuba and these people pay far less for their liability insurance than we do.

95% of law suits are settled out of court, it never goes the distance. Diving lawsuits are typically into millions. The insurance rate increase is not because of 9/11, that's the agencies story. With the mickey mouse quicky courses out there, pretty soon Instructors will not be able to afford the rates and quit teaching as many already do. The industry is shooting itself in the foot with reducing the level of training. It's a quick buck now but in the long run it's a sad story. Let's not judge on the basis of the few in this forum who are active. We need to look at the large picture. Just look at any boat full of toursits.

 

[Underwater Locksmith]

I have been retired for almost 10 years. Thinking about renewing inst. credentials. Never did make any money teaching scuba. Same boat as everyone else with that one. But, planing on making some major gear purchases and doing a lot more diving this year. Kind of thinking it might be worth the insurance $s just for the instructor discounts. They realy did seem to add up.
Any thoughts on that note?

The underwater locksmith