Skydiving is an exciting activity that comes with as many risks as the thrills it brings. In this article, we explore the different types of insurance for skydivers.
There are several choices when buying life insurance for skydivers. There is short-term life insurance that covers death benefits only. There is also permanent life insurance which is more costly. It covers a person’s entire life as long as the necessary premium is being paid.
Mandatory Third-Party Policy
This policy provides liability coverage that also includes accidents and injuries. This means that an insurance company will pay compensation if a skydiver damages another person’s property whilst skydiving.
Personal Accident Skydiver Insurance
This insurance policy provides compensation for accidents or death resulting from a skydiving accident. Some policies contribute to lost earnings as a result of skydiving accidents. This means that a skydiver can be compensated if a skydiving accident prevents them from going about their job or business.
Travel Insurance with Skydiver Coverage
This policy provides the policyholder with medical coverage when skydiving abroad. It also includes coverage for skydiving gear, luggage, and other personal possessions. It may also cover medical expenses and hospital benefits, personal accident, and liability whilst abroad, cancelling and cutting short a holiday, abandoning a trip, delayed departure, accommodation cover, loss of personal money, passport, and travel documents, as well as legal expenses.
Medical and Repatriation Insurance
Several skydivers have been seriously injured while skydiving overseas without having repatriation cover. The repatriation of an injured person from overseas could cost a lot of money. The whole medical and repatriation bill can be tens or even hundreds of thousands.
Medical and repatriation insurance covers emergencies that might require the repatriation of an injured skydiver. It is one insurance policy advisable for anyone skydiving overseas.
There are different types of insurance policies, but these are the most common ones. Contact us for more information.