Parachute Rig Insurance?

[arl120384 0]

Has anyone ever insured their rig for theft or damage? I thought about it due to the theft rates at big events. Any insight?

Thanks

[peregrinerose 0]

My homeowners would cover it.

Do or do not, there is no try -Yoda

[arl120384 0]

OK, thats seems the only way to go. I rent so I need to get rental insurance, then add the rig to the policy.

Thanks

[michalm21 0]

Question before I bother my insurance agent.
Since I don't have an official lease (landlord is a good friend) does it still work with renter's insurance?
If not, what would be the alternative to insure your rig?

[millertime24 8]

Yes. Renters insurance covers your rig. Also lets say you go to a boogie or something and somebody steals your rig out of your car your renters will cover that as well. Point being if you have a bunch of expensive shit (ie skydiving gear, nice tv, cameras etc) its financially stupid to not have renters insurance. Also, my renters pays to REPLACE my gear not just give me what the value of my gear was. So if my place catches on fire and I lose all my shit then I get all brand new shit.

Muff #5048

[Morrison79 0]

You should be fine even if you don't have an "Official" lease. I rent a room from my friend and we have no contract / lease. I recently got renters insurance and it cover's all my gear. Funny part is when I finally added renters insurance to my car insurance policy it costs me almost nothing. $100 a year for rental insurance but I got a $85 dollar discount on my car insurance

[chaosreins 0]

careful who you get your insurance with - if you've got a life insurance policy you might not want that company knowing about your skydiving habit

[Morrison79 0]

I only have Car / Renters insurance through AAA. My health care is covered by my work.
I don't need life insurance right now cause if I die I have a wife / kid.

[BIGUN 1,049]

Quote

I don't need life insurance right now cause if I die I have a wife / kid.

You have a wife and a kid and don't need life insurance?

Nobody has time to listen; because they're desperately chasing the need of being heard.

[Morrison79 0]

LOL sorry i should have read my post before I posted it.

I don't have a wife and kid so theres no reason to have life insurance right now.

[DrewEckhardt 0]

Quote

OK, thats seems the only way to go. I rent so I need to get rental insurance, then add the rig to the policy.

Thanks

Right.

Just be sure to

1. Get replacement value coverage. If your custom rig gets stolen you want them to pay to replace it with a brand new rig made to your measurements instead of what they think its depreciated value is which may only get you a used rig that doesn't fit as well.

2. Get enough off-site coverage. Some of my home-owner's/renter's policies have limited off-site coverage to 10% of the total policy value. So if you have a rig which will cost $6000 to replace you want $60,000 in contents coverage.

3. Specifically add separate sites. If you have a workshop or something that can be insured as an additional site without the coverage limit for a lot less than you'd spend on 10X the coverage. I did this when living in a high-rise and renting a separate artist's loft to play with my parachutes and power tools.

4. Read the policy and buy appropriate riders. Some policies have limits on specific types of items. When I read my policy I found that there was a $1000 firearms limit that I had to increase.

The extra coverages don't add much to the premium but will make a big difference if something does happen.

[BIGUN 1,049]

Whew... I was gonna have to hand you off to Amazon or SkyMama for a spanking.
And, from what I hear, unless you're REALLY into that, it's gonna hurt.

Nobody has time to listen; because they're desperately chasing the need of being heard.