PADI Instructors... Insurance Options

Of course we just got our little zinger from PADI about insurance rates. Once again, through the preferred agent, V&B, it is $674 each for us to be in full teaching status. The "good news" is that they will now accept insurance through other carriers/agents. Oh joy. :confound:

Needless to say, it sticks in our gullet. So we are looking for input.

Any other agent writing for PADI? Contractual obligations forbid us to teach anything but PADI, so please nothing about crossing over. Or about multi-agency affiliations.

Someone mentioned Gail Smith & Co, but gave no details. And as I understand it, Marsh will not handle PADI.

Help!!!

~SubMariner~

IMS. They are located in CO. PM me if you would like contact info.

PM on the way.

Send everything you have!

Take care, eh?!

~SubMariner~

I used Gale Smith last year. It was a considerable savings compared to the V&B costs. I just recently received a letter from them saying that they were not writing scuba policies this year. Although they did say that their former manager in charge of scuba policies was opening up his own shop. I am very curious at what his rates will be for this year.

Gale Smith still has last years applications posted. Their website is www.gs1868.com if you want to compare their last years prices with last years V&B. Personally, I do not ever plan on going with V&B again. I am interested in learning more about IMS though. I believe they were one of the ones I contacted last year but they would not write a policy because I was only a PADI instructor. They said they would cover PADI, but that they had an agreement with NAUI, or SSI or something. I do not remember the details. Please let me know.

Thanks

I just found last years application

With Gale Smith

Instructor ins - $419.75
Addl. Equip Lia. - $199.38


With Vicencia & Buckley

Instructor - $674
Addl. Equip Lia. - $295


You do the math.

When I called GS&A I was directed to leave voicemail for John Witherspoon IV, as he was not in today.

IOW, it seems there is SOME route that is available through GS&A.

Anyways, I'll keep everyone apprised of the discussions.

Meanwhile, I would like to thank everyone who responded to my post. That's why I love this place!

~SubMariner~

today and the response I got was that they only cover NAUI and SSI.

Wonder why these carriers will underwrite policies for the other agencies, but not PADI?

First instinct makes me think that they were never approached to quote.

Makes ya go "hmmmm....."

~SubMariner~

SubMariner once bubbled...
Wonder why these carriers will underwrite policies for the other agencies, but not PADI?

First instinct makes me think that they were never approached to quote.

Makes ya go "hmmmm....."

~SubMariner~

Click to expand...

But this likely has to do with realities of the insurance market.

You do not want to go out and purchase an individual insurance policy for something like professional liablity insurance. It would be outrageously expensive.

Instead, these sorts of policies are technically sold to the organization (agency in this case) and its members can purchase certificates of coverage. But if you are not a member of the organization, you can't purchase coverage.

It's similar in this case to the health insurance market. Your employer may purchase a group health policy, and you can obtain coverage under that policy.

I have had liability insurance through ANDI with gale smith. Padi has been accepting this for more than a few years. Padi always tries to get you to use "their" policy and send you a letter to reconsider your choice.. They don't want to loose their "commissions" on the policies(I'm not sure If this is still true but an industry insider told me it used to be substantial).. This year gale smith is no longer directly offering the policy but the agent is selling policies through his own company..

I don't know the rates for other agencies but through ANDI the rates are $420 for instructors, $450 for technical instructors. They cover PADI programs but I believe you must be associated with one of the following to get insurance

PDIC, NASE, YMCA, IDIG, ANDI or "formerly NASDS"

as far as I now its the best rates in the industry..

optional eqpt insurance is $200


MOst scuba policies are bought under a master policy of a training organization and rates generally vary based on project policies sold and number of claims.. in the long run its probably in your best interest to get another affiliation even if you aren't going to teach other classes regularly, at least for the insurance benefit. Another added advantage is keeping up info on whats being done by others instead of staying in a small box. the money I save each year makes up for more than I pay in dues each year.. I used to use v & B but stopped once I started teaching tech.. their policies have always been below what was necessary for me.. Even their current policy wouldn't cover the activities I teach.


contact
John Witherspoon, IV
(800) 327-2802