everymansaved 0 #1 November 10, 2007 Hey all, this question is mainly posed to Canadian riggers, as that's where I am, but you folks from south of the border feel free to chime in. I walked into my basement yesterday and took a good hard look at the $100,000 plus worth of student gear and sport rigs I have sitting there and wondered what the hell I'd say to the owners if my house burned down and my insurance didn't cover the rigs because they weren't mine. I called my insurance agent and asked him about if it was covered, etc... He said he couldn't sell me coverage because his underwriters wouldn't see past the fact that it was not just contents, but parachutes, and if I packed a reserve mal or something along those lines, they'd be on the hook if the family sued me. He recomended that I call a broker and talk to them, which I have yet to do as it's the weekend. I'm just curious what other people think, and what they do about this. I guess this mainly concerns riggers operating out of their home, but if you have a comment on this, please share. Thanks.God made firefighters so paramedics would have heroes...and someone can put out the trailer fires. Quote Share this post Link to post Share on other sites
stratostar 5 #2 November 10, 2007 I only have a few rigs at a time besides the family rigs, and those clients rigs would/should be covered by their homeowners policy, the same as if I left my rig in the loft and it burned down. I would be in the U.S.you can't pay for kids schoolin' with love of skydiving! ~ Airtwardo Quote Share this post Link to post Share on other sites
JerryBaumchen 1,064 #3 November 10, 2007 Hi every, I once asked my insurance agent about this ( I had about 75 rigs at my house at the time ). He said that they ( the owners ) would have to rely on their own insurance, if they had any. I think that a fair number of jumpers do not have insurance. JerryBaumchen Quote Share this post Link to post Share on other sites
MrBrant 0 #4 November 10, 2007 our house just burnt down 2 weeks ago. With the insurance we had, it was $150k for contents, but only about 1k for other people's items in the house. The owner of the rig(s) would have to go through thier insurance company to get reimbursed. Quote Share this post Link to post Share on other sites
Armour666 0 #5 November 10, 2007 I would get business insurance specifically. You should be able to get content insurance with out an issue as there is a big difference between content and liability insurance. I don’t do rigging but do run my business form my home and my home owners insurance would not cover any business related equipment that I owned or clients, and with some of the equipment I have in my house at times would have left me in debt 6 lifetimes over if I any thing were to happen so I have contents separate to make sure I’m covered. I take out liability insurance when carrying out work physically on a client site. Also I would highly recommend to incorporate (cost me $400 here in Ontario) that way if any thing were to happen in a legal sense the corporation carries the risk and you are isolated on your personal finances and such. Unless you do over 30,000 a year in sales or income you don’t need to get a GST number (Besides corporations have a lower tax rate)SO this one time at band camp..... "Of all the things I've lost I miss my mind the most." Quote Share this post Link to post Share on other sites
everymansaved 0 #6 November 10, 2007 Yeah, I'm really looking forward to talking to this broker and getting it settled, this is making me nervous. I've thought about incorporating too, it's probably a good idea.God made firefighters so paramedics would have heroes...and someone can put out the trailer fires. Quote Share this post Link to post Share on other sites
hackish 8 #7 November 11, 2007 Being incorporated does not necessarily save you from legal consequences but it can help. I asked about insurance and commercial insurance is in the neighbourhood of $3k per year at the low end. That's a lot of repacks. -Michael Quote Share this post Link to post Share on other sites
JerryBaumchen 1,064 #8 November 11, 2007 Hi hackish, And if you were to read the policy completely ( and understand it ) you would probably find so many exclusions that they ( the insurers ) would never pay out. JerryBaumchen Quote Share this post Link to post Share on other sites
riggerrob 558 #9 November 11, 2007 Just ask the broker about fire and theft insurance. Be really vague about what sort of customers' goods he will be covering. Don't even think about asking about liability insurance. Most parachute manufacturers do not carry any liability insurance. hint; the largest company was called "The Uninisured Relative Work Shop." Quote Share this post Link to post Share on other sites
