Contact   Imprint   Advertising   Guidelines

Insurance on rental gear worth it?

Forum for kitesurfers
knotwindy
Very Frequent Poster
Posts: 1587
Joined: Mon Sep 26, 2011 4:49 am
Local Beach: baja, gorge
Style: erratic to none
Gear: yes, I use gear
Brand Affiliation: None
Has thanked: 72 times
Been thanked: 69 times

Re: Insurance on rental gear worth it?

Postby knotwindy » Mon Nov 11, 2019 3:36 pm

You are making a bet with the insurance company. They are betting you will be fine. You are betting there will be a problem and hoping they win the bet.
These users thanked the author knotwindy for the post:
grigorib (Mon Nov 11, 2019 9:26 pm)
Rating: 10%

User avatar
bay surfer
Very Frequent Poster
Posts: 928
Joined: Tue Dec 23, 2003 6:30 pm
Local Beach: The Dam Beach
Favorite Beaches: Lake Michigan Beaches, OBX
Gear: Airush, Switch, Pansh, Kites, LF boards, Home Brewed Foils and boards
Brand Affiliation: None
Location: Traverse City, MI usa
Has thanked: 0
Been thanked: 5 times

Re: Insurance on rental gear worth it?

Postby bay surfer » Mon Nov 11, 2019 8:59 pm

Most Credit Cards have Rental insurance included in the perks. Check with your Credit Card company, to find out the limits. Kind of like CDL your card may have better coverage.

badgb21
Very Frequent Poster
Posts: 622
Joined: Mon Jun 16, 2003 8:55 am
Favorite Beaches: High Pines - Duxbury
Chapin/Mayflower Cape Cod
Langebaan
Cape Verde
Gear: CrazyFly, Cabrinha, Concept X Ruler Split.
Brand Affiliation: None. - The words of the prophets are written on the forum “walls”-
Location: Hants UK
Has thanked: 35 times
Been thanked: 20 times

Re: Insurance on rental gear worth it?

Postby badgb21 » Tue Nov 12, 2019 7:38 am

I also agree with these points below.
For relatively minor items, insurance for careful ownwers/users makes little sense.
I guess we all have our threshold on 'minor'.

Insurance companies do make it labourious to claim, I assume they have their reasons.
I witnessed this recently with a rental car insurance claim - though I didn't mind some inconvenience for a £300 claim - for a dent I didn't do!

Car rental companies scamming customers who don't take their insurance is for another thread!

I do take TP kitesurfing insurance for exactly: protecting against 'life changing losses'.

I took the the VDWS insurance for TP cover, it just happens to be competitive and have rental cover as well.
I've never claimed and hope I never will! So can't comment on their claims proceedure.


FLandOBX wrote:
Mon Nov 11, 2019 2:37 pm
slowboat wrote:
Mon Nov 11, 2019 11:31 am
The purpose of insurance is not to come out ahead dollar wise. It is to protect against life changing losses. You actually WANT to lose money on insurance. Meaning, you have insurance on your car (for liability mostly), house or life but don't want to claim house, car or life insurance...so you pay the premiums but are happy to not use the insurance. It is a way of spreading catastrophic risk among many people.

If you damage rental equipment (or lose your phone for example), that is just the cost of kiting and you lose the money. Insuring these "little" things to try and come out ahead does not make any sense as the odds are the insurance company will come out ahead...they have to make a profit to exist.
I agree with this approach.

The other aspect of insurance that most people fail to recognize is that the "cost" of insurance is more than just the premium. The "cost" includes both the premium AND your time, energy and expense required to make the insurance company honor its contract in the event of a loss. Often, it's more cost effective simply to pay for a loss out of pocket than to haggle and battle with an insurance company to settle a claim.


Return to “Kitesurfing”

Who is online

Users browsing this forum: BillyGoatGruff, Frozenfox, Ramkiter and 27 guests