Join DiveBuddy.com

Meet new scuba divers, maintain a virtual dive log, participate in our forum, share underwater photos, research dive sites and more. Members login here.

#169
Scuba Dive Equipment Insurance
Gregihpil - 12/23/2012 11:27 AM
Category: General
Replies: 9

I just joined this site.I am wondering if any of you (divers) currently have equipment Ins.If so,is it thru another Dive related co., or a rider to your home owners policy,etc.?

I recently had the mis fortune losing my back up d/c in Roatan. It got unhooked when I was trying to release my Camera clip from my B/C.At the point I saw my D/C floating down,I had already taken fins off and only had 400 psi left,it had a 10 to 15’ lead on me.Needless to say,it wasn’t worth risking my life. There were 2 witness’s to the fact.The owner of the dive shop ,with my request,wrote a letter to the co. explaining what happened.I had this item in my insurance policy along with a detailed list of my other equipment. I reported the loss right away when I returned home.

To my disappointment the claim was denied.as in the "fine print".Losses from either stolen,loss from airline travel were covered.However in the event of loss from a unable to recover ,is not covered.

From this point I became very unglued,to be polite.

Here is a copy of the statement I received.

Perils Excluded

This policy does not insure against:

a. Loss or damage which is due and confined to wear and tear, inherent vice, gradual deterioration,

corrosion, insects, vermin, freezing, extremes of temperature, mechanical or electrical breakdown or

failure, unless such damage is the result of other loss covered by this policy.

b. Loss or damage caused by or resulting from delay, loss of market, loss of use, interruption of business;

c. Unexplained loss, mysterious disappearance, or shortage disclosed upon taking inventory

d. ITEMS LOST WHILE IN YOUR CARE, CUSTODY AND CONTROL – WHILE IN USE BOTH IN

AND OUT OF THE WATER, DROPPED OVERBOARD OR SWEPT OVERBOARD


What finally ended up happening.#1 They said they would not even refund my policy $$,which had just been renued before my trip.Since contacting Dan Orr directly and relaying my problem.I believe he convinced Allianz the co. that is brokered from Senn Dunn to return my premium $.I now have a list of questions to ask Insurance co’s.

It’s hard to find a "Dive" Insurance Equipment co..There are not many out there.The ones that are there have allot of exceptions or are not reasonable.

Would like to hear from the divers here..Thanks..
#51828
Subscribed
Greg - 12/23/2012 3:14 PM
In my opinion, equipment insurance was never worth it for me. Any expensive gear I own I don’t let it leave my sight. And the chances of loosing it during a dive like you did are rare. Have you checked out diveassure? They provide scuba divers with insurance as well, and I’m sure they have equipment insurance.
#51828
Subscribed
Greg - 12/23/2012 3:16 PM
And regarding the response from the insurance company, this is another reason I don’t care for equipment insurance...all the damn fine print. They will find any reason not to cover you. All insurance companies are in business for a profit, not to protect you.
#5471
DiveBuddyChgo - 12/23/2012 3:26 PM
There is no gear insurance even with D.A.N. if you read the fine print. I have been on boats where divers left there camera’s in the water and never found. They always feel better that they got the gear insurance. I don’t say anything to them so it won’t ruin thier vacation week. The only way your gear is covered for loss is in a medical or rescue mishap. Another words in a last attempt I cut your straps so ya float or cut your suit open when your not breathing. Then your gear is covered for replacement. But because it is stolen or you loss it. Nothing for you. Anyways a diver is responsible for thier own gear. Anyways I have cut suits open and torn gear off of drowning divers. Also some of my gear that gets torn up with a panic’d diver. I just fix it myself. I thought I lost a lite but is was hooked into a divers BC because the metal ring was bent open. But you won’t get gear replaced for free unless its from an emergency loss. Glad you are in the Chgo. L. Mich. area. By the way. Always get the D.A.N. insurance. I know first hand D.A.N. pays every penny that my BCBS insurance wouldn’t cover. Including Dr. check ups for evalution weeks later. We’ll go diving this spring. OK?
#169
Subscribed
Gregihpil - 12/23/2012 3:38 PM
Greg,Thanks for the quick response.The only detail I had left out.I have inquired to my Home Owners policy and they are VERY Reasonable.No hidden clause’s..the only glich might be the depreciation factor of when the equipment was purchased... and when a claim is made.Which is better than what I came away with from the last co.


The only other comment on the Insurance co.They said that they would have gone out of business,if they let the policy of a loss like mine continue."People were making claims that were not true or they didn’t even own the equipment".Which I replied,"If it ain’t on the policy,how could you even think of coverage or reimbursement.?"

As you mentioned ,"They are in it for the $$$"
#12117
Eric_R - 12/23/2012 4:34 PM
My is covered under my home owners. They have a detailed list of my gear along with pictures. If I remember correctly anything over $2500 in value needs a rider.
#20384
LatitudeAdjustment - 12/24/2012 6:39 AM
I have found most dive gear and trip insurance useless, read the fine print. Some gear insurance requires them to do the repairs, some pay to have it done. Some replace a flooded camera with a used camera.

Trip insurance told me I needed a police report, paid $25 for report and then they told me they didn’t cover stolen cash or the price of the police report. Didn’t cover travel agent going on vacation with your money. Didn’t cover flight change charges when the airline doesn’t go there anymore. I will buy insurance for an expensive trip when there is a chance a family member go get sick and we would need to cancel.
#20384
LatitudeAdjustment - 12/24/2012 7:04 AM
"could get sick"
#169
Subscribed
Gregihpil - 12/24/2012 5:21 PM
To Progrower ..Yes,I have just taken photos something I should’ve done awhile back. I just don’t care to gamble and not have nothing covered.The Homeowners Rider right now is about the only thing going...I’ll have something before the next trip...

To Latitude Adj.. Your assement is something I to had heard happening as well....
#5050
Subscribed
diverray - 12/24/2012 9:11 PM
I found out the hard way that travel insurance won’t cover the airline going bankrupt.