Do you run a parachuting school or work as an instructor? If so, you know that insurance is important to protect yourself, your business, and your clients in case of accidents. Parachuting can be an exhilarating experience, but it also comes with risks. The pilot can make a mistake during the flight and result in a crash. The chute can also malfunction and cause someone’s death.
That's why insurance coverage is crucial to protect you and your business. This article will explore everything you need about parachuting insurance, including its various types, coverage limits, and costs. We'll also review some of the best parachuting insurance companies in the market so that you can choose the right one for your needs.
CoverWallet | NEXT (Best) | Thimble | Hiscox | The Hartford | |
---|---|---|---|---|---|
Per occurrence limit | $1,000,000 | $1,000,000 | $1,000,000/$2,000,000 | $2,000,000 | $1,000,000/$2,000,000 |
Aggregate limit | $2,000,000 | $2,000,000 | $1,000,000/$2,000,000 | $2,000,000 | $1,000,000/$2,000,000 |
Products and completed operations aggregate limit | $2,000,000 | $1,000,000 | $2,000,000 | $1,000,000 | $1,000,000 |
Advertising injury coverage aggregate limit | $1,000,000 | $1,000,000 | $2,000,000 | $1,000,000 | $1,000,000 |
Tenant’s legal liability coverage limit | $300,000/$1,000,000 | $300,000 | $100,000 | $100,000 | $1,000,000 |
Waiver of subrogation included? | Yes | No | Included | Can be included | No |
Hired/non-owned auto liability coverage included? | Yes | No | No | Can be included | Can be included |
Equipment breakdown floater included? | No | Yes | Yes | Can be included | Can be included |
Can you get a certificate of insurance online? | Yes | Yes | Yes | Yes | Yes |
Name additional insureds? | Yes | Yes | Yes | Yes | Yes |
Deductible | $0 | $0 | $0 | $0 | $0 |
General liability insurance is important insurance coverage for parachuting instructors and schools, protecting you against bodily injury, property damage, and advertising injury claims. It's also essential to consider additional insurance options to address specific risks and liabilities.
The coverage limits of this skydiving insurance can range up to $1,000,000 per occurrence.
Professional liability coverage–This optional add-on to the general liability coverage of your parachute jump insurance program protects claims related to professional negligence
HNOA coverage–This add-on covers any accidents caused by a vehicle you hired or borrowed for business purposes
The coverage exclusions for this insurance policy may vary depending on the insurer and the specific policy. Some exclusions may include coverage for intentional acts, criminal acts, or acts of terrorism. Reviewing the policy carefully and understanding the exclusions before purchasing it is essential.
CoverWallet | NEXT | Thimble (Best) | Hiscox | The Hartford | |
---|---|---|---|---|---|
Per occurrence limit | $1,000,000 | $1,000,000 | $1,000,000/$2,000,000 | $1,000,000 | $1,000,000 |
Aggregate limit | $2,000,000 | $2,000,000 | $1,000,000/$2,000,000 | $1,000,000 | $2,000,000 |
Name additional insureds? | Yes | Yes | Yes | Yes | Yes |
Waiver of subrogation included? | Yes | No | Yes | Can be included | No |
HIPAA coverage included? | No | No | No | No | No |
Sexual misconduct coverage included? | No | No | No | No | Can be included |
License defense coverage included? | No | No | No | No | Can be included |
Deductible | $500 | $500 | $500 | $50/$10,000 | $500 |
Professional liability insurance protects your business from financial loss due to lawsuits and other legal issues if you are a parachuting instructor or run a skydiving school. This type of parachuting insurance for instructors and schools can grant protection if a claim is filed due to inaccurate advice, negligence, and other related perils.
Coverage limits typically range from $1 million to $10 million, depending on the size and scope of your business and the risks involved.
Business interruption coverage–Protects if your business operations are interrupted due to unpredicted events such as natural disasters or equipment failures
Non-Owned aircraft liability coverage–Covers injuries or damages caused by aircraft you do not own but use for skydiving activities
Professional liability insurance can provide coverage for claims related to improper equipment maintenance. If an accident or injury occurs due to equipment failure or improper maintenance by the instructor or school, resulting in a lawsuit, professional liability insurance can help cover the legal costs and potential settlements associated with the claim.
Public liability insurance for parachuting Instructors and Schools is a type of insurance that covers legal liability arising from accidental injury to third parties or damage to your property during your business operations. Skydiving operators and instructors in Europe often require public liability insurance, and therefore skydiving insurance in Europe is a consideration when opting for a policy.
Coverage limits typically range from $1 million to $10 million, depending on the size and scope of your business and the risks involved.
Public liability insurance typically does not cover accidents that occur during transportation to and from the skydiving location. It primarily focuses on liability for injuries or property damage that arise from the actual skydiving activities or operations conducted by the school or instructor. To cover transportation-related accidents, separate insurance policies such as commercial auto insurance or hired/non-owned auto insurance may be necessary.
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CoverWallet | NEXT (Best) | Thimble | The Hartford | Hiscox | |
---|---|---|---|---|---|
Building coverage limit (minimum) | $50,000 | $320,000 | $25,000/$500,000 | $75,000 | $25,000 |
Contents coverage limit (minimum) | $50,000 | $35,000 | $25,000/$500,000 | $75,000 | $15,000 |
Outdoor signs | Excluded | $2,500 | Excluded | Excluded | Included |
Accounts receivable | Excluded | Excluded | $5,000/$10,000 | Excluded | Included |
Money and securities | Excluded | $2,500 | $1,000 | Excluded | Included |
Lock and keys | Excluded | $2,500 | Excluded | Excluded | Included |
Business interruption floater | Excluded | Included | Included | Excluded | Included |
Equipment breakdown floater | Excluded | Included | Excluded | Excluded | Included |
Inland marine insurance floater | Excluded | Excluded | $10,000 | Excluded | Excluded |
Employee dishonesty floater | Excluded | $5,000 | $2,500 | Excluded | Excluded |
This insurance protects against damage or loss of property owned by the business, including buildings, equipment, and other property assets. Here are some situations where commercial property insurance can help:
Damage to your property or equipment caused by natural disasters such as floods, hurricanes, or earthquakes
The deprivation of belongings resulting from robbery or intentional damage
Loss of income due to business interruption caused by covered events
Commercial property insurance has coverage limits ranging from $25,000-$1 million.
Equipment breakdown coverage–Covers repair or replacement costs for equipment that breaks down due to mechanical or electrical failure
Extra expense coverage–Covers additional costs incurred to keep your business running in case of covered events
Commercial property insurance only covers damage to the insured property and assets the business owns. If a customer's belongings are damaged or lost while on your property, then commercial property insurance can’t help.
CoverWallet | NEXT (Best) | Thimble | Hiscox | |
---|---|---|---|---|
General liability aggregate limit | $2,000,000 | $1,000,000/$2,000,000 | $1,000,000/$2,000,000 | $300,000/$2,000,000 |
Commercial property coverage limit | $50,000 | $320,000 | $25,000/$500,000 | $75,000 |
Optional policies can be added? | Yes | Yes | Yes | Yes |
Name additional insureds for free? | Yes | Yes | Yes | Yes |
BOP discount? | Yes | Yes | Yes | Yes |
Business owner's policy (BOP) can provide property and liability insurance coverage in a single package. This can save you money on premiums while protecting your business from unexpected events.
Coverage limits can range from $100,000 to several million dollars depending on the size and scope of your business and the risks involved.
Cyber liability insurance–Protects your business from damages or losses caused by data breaches or cyberattacks
Employment practices liability Insurance–Covers legal costs in case of lawsuits filed by employees for discrimination, harassment, or other employment-related issues
The advantages of a BOP compared to standalone skydiving insurance policies include the convenience of having property and liability coverage bundled into a single package, potential cost savings on premiums, and coverage limits that can range from $100,000 to several million dollars based on the size and risks of the business.
Commercial auto insurance for parachuting instructors and schools provides coverage for vehicles used for business purposes. This type of insurance covers liability and physical damage for vehicles used by parachuting instructors and schools during business operations. Commercial auto insurance is made out of the following components:
Auto liability coverage–It covers damages you're legally responsible for if you cause an accident that injures someone or damages their property. It includes bodily injury liability and property damage liability
Collision coverage–Covers damages to your vehicle caused by a collision with another vehicle or object, regardless of who's at fault
Comprehensive coverage–Covers damages to your vehicle caused by non-collision events, such as theft, vandalism, fire, or natural disasters
Uninsured/underinsured motorist coverage–It covers damages caused by a driver who doesn't have enough insurance to pay for the damages they caused or have no insurance
Medical payments coverage–It covers medical expenses for you and your passengers in the event of an accident, regardless of who's at fault
Commercial auto insurance has a minimum coverage limit of $25,000 per bodily injury, $50,000 per accident, and $25,000 per property damage.
Rental Reimbursement–Covers the cost of a rental vehicle if your business vehicle is in the shop for repairs.
Roadside assistance coverage–Pays for the cost of tire repair, tire delivery, gas delivery, towing, and other roadside assistance services your vehicle needs if it breaks down on the road
Commercial auto insurance covers only the vehicle, not the transported equipment. However, you may be able to purchase separate insurance policies for your skydiving equipment, such as inland marine insurance.
Workers compensation insurance for parachuting Instructors and schools is a type of insurance that provides coverage for employees injured or ill due to their work activities. This covers medical bills, lost wages, rehabilitation, and in case of death, burial expenses. Here are some situations where this policy can help:
Injuries sustained while landing or exiting the aircraft
Parachute malfunctions or failures
Accidents caused by equipment failure or improper maintenance
Accidents resulting from improper instruction or supervision
Some workers compensation insurance policies may offer additional add-ons or coverage options that can further protect you and your business. Some examples include:
Employer's liability insurance–Provides additional coverage for legal costs and damages if an employee files a lawsuit against you or your business
Skydiving travel insurance is a specialized insurance policy designed to cover individuals participating in skydiving activities while traveling. It offers protection against potential risks and incidents related explicitly to skydiving during the trip.
Coverage limits often range from $100,000 to several million dollars. The actual coverage amount for travel insurance including skydiving will depend on factors such as the level of risk involved in the skydiving activities, the location of the trip, and the duration of coverage required.
Personal accident insurance provides additional coverage for accidental death, permanent disability, or dismemberment resulting from a skydiving-related incident during the insured trip
Emergency medical assistance ensures access to 24/7 emergency medical assistance services in case of a medical emergency during the skydiving trip, including medical consultations, hospital referrals, and medical evacuation, if necessary
For you as a tandem skydiving instructor or school, tandem skydive insurance is essential. It is specifically tailored to address the risks and liabilities involved in tandem skydiving activities. With this insurance, you receive coverage that protects both you as the instructor and your students.
In the unfortunate event of accidents, injuries, or property damage during a tandem skydive, the insurance steps in to provide financial protection. It ensures that you are safeguarded against potential legal expenses, medical costs, and settlements or judgments. By having tandem skydive insurance, you can engage in your activities with confidence, knowing that you and your students are protected.
Cost per Month | Cost per Year | Deductible | |
---|---|---|---|
General liability insurance | $45 | $540 | $0-$500 |
Professional liability insurance | $49 | $588 | $500-$1,000 |
Commercial property insurance | $81 | $972 | $1,000-$2,000 |
Business owner’s policy | $103 | $1,236 | $500-$2,000 |
Travel insurance | $64 | $500-$1,000 | |
Commercial auto insurance | $75 | $900 | $1,000-$2,000 |
Workers compensation insurance | $130 | $1,560 | $2,500-$5,000 |
The average parachuting insurance cost for instructors and schools is $45 per month or $540 per year for a $1 million general liability policy. Factors that affect the cost of premiums are:
Location–Insurance providers may consider some locations higher risk than others, and this can affect the cost of coverage
Level of risk–The degree of potential danger involved in certain activities might be deemed higher by insurance companies, and this evaluation can impact the price of the insurance policy
Coverage limits–Higher coverage limits can lead to higher premiums.=
Number of employees–For workers' compensation insurance, the number of employees can affect the cost of coverage
In connection, here’s a table showing the rates of companies we recommend you work with:
Cost per Month | Cost per Year | Best for | |
---|---|---|---|
NEXT | $25 | $300 | Best overall; Fastest general liability insurance for parachuting instructors and schools |
The Hartford | $29 | $348 | Comparing parachute jump insurance quotes online |
CoverWallet | $33 | $396 | Strong reputation for customer service |
Tivly | $36 | $432 | Comparing parachute jump insurance quotes over the phone |
Thimble | $38 | $456 | On-demand coverage for parachuting instructors and schools |
Hiscox | $40 | $480 | Parachuting insurance for schools and instructors that renews automatically every year |
Get all the best quotes from leading providers in a click of a button!
The best parachuting insurance companies may vary depending on individual needs and preferences. However, here are some well-known insurance companies that are often recognized for their coverage options and customer satisfaction in the parachuting industry. Read some of the reviews below to know their pros, cons, and average rate for a $1 million general liability insurance:
Best overall
Issues an online proof of insurance instantly
Fastest general liability insurance for parachuting instructors and schools
Great customer service and reputation
Excellent rates
Outstanding value for money
Get a 10% discount if you buy two or more policies
Couldn’t find any
NEXT Insurance is a leading insurance company specializing in providing coverage for various industries and professions. They offer comprehensive insurance solutions tailored to the unique needs of businesses, including those involved in adventurous activities like skydiving and parachuting.
Best for: Best overall; Fastest general liability insurance for parachuting instructors and schools
Average cost: $25 per month.
Our rating: 10/10
It is possible to adjust your package to suit your needs and convenience.
Their online resources enable you to pay premiums, submit claims, and obtain an insurance certificate for free
Compare quotes online
Not an insurance company but an insurance broker
CoverWallet is a prominent insurance technology company that offers innovative solutions for small businesses. With its user-friendly online platform, CoverWallet aims to simplify the insurance purchasing process, making it more accessible and efficient for business owners.
Best for: Comparing parachute jump insurance quotes online
Average cost: $29 per month
Our rating: 10/10
Has received customer satisfaction ratings that are higher than the average
They offer assistance throughout the claims process and have a simple and easy-to-follow claims procedure
Renowned company for workers compensation insurance
Limited add-ons to general liability insurance
The Hartford is a well-established insurance company with a rich history spanning over 200 years. With a strong reputation for reliability and financial stability, The Hartford is a trusted provider of insurance solutions for individuals, businesses, and organizations.
Best for: Strong reputation for customer service
Average cost: $33 per month
Our rating: 10/10
Provides a broad range of coverage options and allows businesses to customize their policies to meet their specific needs
Tivly offers insurance options for both individuals and businesses
Compare quotes over the phone
They do not offer any tools to manage multiple policies from different providers
Tivly offers insurance policies for individuals and businesses, including options for skydiving and parachuting. This company can connect you with all types of business insurance and you can easily get a quote on the insurance. Call now to compare quotes over the phone.
Best for: Comparing parachute jump insurance quotes over the phone
Average cost: $36 per month
Our rating: 9/10
Allows customers to choose their coverage duration, from hourly to monthly
Provides online policy management tools
Quick to issue an estimate of your rates
You can’t reach customer service by calling
Thimble is an innovative insurance company that caters to the unique needs of small businesses and independent workers. With their flexible and on-demand insurance policies, Thimble aims to provide simple and accessible coverage to protect businesses against potential risks and liabilities.
Best for: On-demand coverage for parachuting instructors and schools
Average cost: $38 per month
Our rating: 8/10
Excellent financial strength ratings
14-day money-back guarantee
Worldwide coverage
Online quoting not available all the time due to periodic site maintenance
Hiscox is an international specialty insurer offering a range of commercial insurance products, including business liability insurance. If you are looking for skydiving insurance in Europe, their team of experienced underwriters and brokers can help you find the coverage you need at a competitive price.
Best for: Parachuting insurance for schools and instructors that renews automatically every year
Average cost: $40 per month
Our rating: 9/10
Use anyone except Employers. Period. They are non-transparent and shameful. After I complained long enough to warrant a call from a supervisor, the supervisor called back from a PRIVATE NUMBER (no caller ID), left a message that they are not reversing their decision (without any communication with me), and failed to leave a phone number for me to call back. She was hiding! They also fact find via email and phone calls, which is terrific for speed and communication. However, after setting a precedence of email or phone calls, they send time sensitive information via email, without any heads up... they are hoping you miss it and forfeit via expiration. Evil policies. Go elsewhere.
This place is an absolute joke of a company and should be ashamed of the way they conduct business. I was hurt on the job at the end of July and it took them just shy of 7 weeks to issue out a paycheck to me. Yes the amount was back dated but still. Not many have the luxury of not receiving a paycheck for almost 2 months. To top it all off, the original adjuster marked me down for the wrong state which caused a problem from the get go, I've had 3 different adjusters now since each one can't seem to figure out the simplicity of my claim. All my paperwork which includes, my job, house, and drs visits all are from the same state and city but yet some how I have been filed under a completely different state 1500 miles away. They do not answer your phone calls or emails no matter how many you leave. I've had to escalate my frustrations to the supervisors of each of these individuals in order to even get some kind of response. I've had more communication and information given to me about my claim from the customer service representatives then the actual adjusters.......... please tell me how that works?! A serious overhaul needs to happen here in order to serve your clients the way they deserve to be taken care of. 10/10 do not recommend this company to a single soul on earth
I have never had the displeasure of working with a more incompetent and disrespectful person in my life. I’m an injured worker and the adjuster that was assigned to my case was named Carrie Furgeson. In the past 6 weeks that I’ve been injured and out of work I have only been able to get ahold of her twice, not for lack of trying. I have left countless voicemails, countless emails, and she ignores them all. When I am finally able to get ahold of her I’m greeted with terrible customer service. She is rude, she talks over me and I’m hardly able to get a word in edgewise. She spelled my name wrong on my documents even after I spelled it for her properly countless times, this caused a whole new issue with my bank. I have bill collectors from the hospital calling me demanding payment and Carrie Furgeson won’t do a single thing to help, or to get them paid. All of my documentation is in Colorado, my job is in Colorado, my address is in Colorado, all my Dr offices and appointments have been in Colorado and Carrie still managed to hold my claim because she wasn’t sure what state she needed to file it under. It’s been 6 weeks since my Injury and my company still hasn’t received the wage paperwork to fill out so they can get me my correct wages. When she’s not ignoring me she’s answering my questions with “I don’t know” well I don’t know how she got this job, because apparently she doesn’t know anything about it. She is a disgusting morose individual inside and out and I genuinely wish her the worst in all of her future endeavors. I highly recommend you don’t use this company. Please if you are a business owner and your looking into this company please don’t use them. I’m sure they have the cheapest payment and that’s why companies use them in the first place, but you will be doing your employees a grave disservice by forcing them to venture into this absolute dumpster fire of a company. I would rate 0/5 if possible but 1 was the lowest I was allowed.
Their general liability insurance purchase process is simply the best online experience I've ever had in my life!
As long as they cover your line of business, you're literally covered! best rates, best coverage, best online experience, best professionals, can't be happier that I chose them!