DM Insurance Costs

[NorthernShrinkage]

Just Curious as to what other Divemasters are paying for annual insurance rates I realize some shops have blanket insurance that covers all staff but for those who pay there own just curious of how much and who you deal with . Mines up for renewal next month it runs me about 320.00 Cdn a year through Willis . I thought I read somewhere it was a bit higher in the States .

 

[Double_D]

Vicencia and Buckley hits us for $325 (US) full fee or $215 assisting only. My shop gives me some store credit in addition to my percentage and that helps offset the hit.

Interesting thread topic.

 

[divebutt]

Whoa!!!! For a DM that's way too much, look at Barton at http://www.barton.ca/group/padi_home.htm With tax, you're looking at $221.40/year for a DM. Plus, if you move to them after Jan 1 st, you pay about $149.04, as all policies automatically end at the end of June, regardless of when you start.

 

[NorthernShrinkage]

Whoa!!!! For a DM that's way too much, look at Barton at http://www.barton.ca/group/padi_home.htm With tax, you're looking at $221.40/year for a DM. Plus, if you move to them after Jan 1 st, you pay about $149.04, as all policies automatically end at the end of June, regardless of when you start.

Thx will look at that big price diffrence. Not sure if I can use them as I am SDI certified but emailed them to find out.

 

[sandersondiver]

Been hitting up the owner of my shop for years to get the umbrella pollicy, but to no avail. V & B gets us pretty good on June 30th of every year.

 

[NorthernShrinkage]

Been hitting up the owner of my shop for years to get the umbrella pollicy, but to no avail. V & B gets us pretty good on June 30th of every year.

Actualy would be curious to know what Umbrella insurance would cost for a smaller type shop .Almost wonder if it would be worthwhile to find out a price and figure out between Instructors and DM,s what we are paying Indidualy and compare it to a group rate . I realize it wouldnt work for a lot of larger areas where people bounce between diffrent shops etc but might work here with a limited market and a single shop.

 

[sandersondiver]

As far as I know, if the shop gets the umbrella policy, then the instructors/ dive masters are obligated to only teaching at that shop. That isn't a big deal for me, but some people might have a problem being locked into a single shop. Talking with my course director, he made it sound as if it would cut individual insurance cost in half. Which would be nice considering all the other dues and insurance costs that pros have to pay for every year.

 

[divemaster_jim]

I get mine from my shop, I'm considering carring mine own this year too, I'm thinking it's around $150.00 or so??? BTW I'm in the states too.

 

[DET]

I am curious for those DM's who pay for their own insurance, are you also compensated for assistance? Enough to cover the cost of insurance?

 

[sandersondiver]

I am curious for those DM's who pay for their own insurance, are you also compensated for assistance? Enough to cover the cost of insurance?

What do you mean by "compesated for assitance"? Are the DM's getting paid for their internship in the pool with an instructor? If that's the case, then "NO." If you mean gaining practical knowlegde and actual dive experinence with customers the "YES." The reward here is that I/ we are getting to do what we want to do. Nobody, including shop owners, are in this business to become rich. I believe that most everybody in this profession is here because they want to be here, despite the low pay, long hours, and tourists that make your life a living hell. We are all here because we choose to be, and that is the bottom line.