I elected not to join the union at the high school where I work. [This is a topic for another (pit) thread, but even though I’m not a member, I have to pay $600 of the $750 annual dues just for the mediocre bargaining they do for me…].
One of the benefits of union membership, however, is a $1 million liability insurance policy, in case I electrocute a kid (or something less interesting, I’m sure). I’m wondering where I can get a liability insurance policy that I pay for myself, and whether it is worth it. If I sucked it up and joined the union, I’d really only be paying $150 more per year, and if I can’t get a policy for that much on my own, I might as well join, despite my desire not to be a member.
Does anyone have experience buying a policy like this? Is $150/year in the ballpark for a $1 million policy? (it seems ludicrously low, but I don’t know much about insurance)
Really, it depends on a number of factors: Your age, any chronic diseases, basic medical history, span of the policy, etc.
Age is a prime thing.
For me, the best I could do was a $350,000 term life policy for about $150 a month, guaranteed rate for my life. Everything else was at least double that. For the record, this was when I was 53 years old, from Zurich Life.
YMMV, and surely will, but I don’t think this is in any way a bad deal. I’d go for it in a heartbeat, depending of course on the conditions (yours and theirs).
:smack: Oh, crap. I am so sorry. I completely misread your post. You were talking about liability insurance, not life insurance. My brain just somehow cross-threaded.
Please accept my apologies and ignore what I just wrote. I am an idiot.
Here’re one company’s rates. Looks like it depends on how long you’ve had your job, as well as how high a deductible you want. But it looks like you might well be better off joining the union.
They not only pay out for physical damage you do a student, but also provide legal representation and pay out for sexual harrassment and discrimination lawsuits - which I’d venture would be the more likely hazard of teaching high school these days.
Thanks for the info! For $250/year, I can get decent coverage, although you’re right that it is more expensive than with the union (and with a $5k deductible). The company you linked to is actually off-shore: (from their FAQ):
Is Sinclair a rated company?
Sinclair is not rated by AM Best or by another rating body. As an offshore insurance carrier, Sinclair does not need rating. Nevertheless, Sinclair is governed by the State of Anjouan’s International Insurance Commissioner and must therefore follow the legal requirements concerning capital, reserves & solvency margins.
Where is Anjouan?
Anjouan is an Independent State, within the Union of Comoros. The Island of Anjouan is located in the Mozambique Channel, between Mozambique and Madagascar just off the coast of the East African Continent. Anjouan is an island considered a tropical paradise. Its luxuriant foliage, blue waters & golden beaches rightfully earned Anjouan the reputation of being “Paradise on Earth”!
Don’t forget to see if your school/district assumes your liability for you. There may even be language in your contract that provides this. Even if you’re not a union member, most things in the contract still apply to you, such as indemnification. I guess I should repeat the SDMB mantra and say, “see a lawyer” to determine your liability. You may be protected by law, too. Remember, that unions like to tout the “benefits” they provide for you, even if they’re things that don’t mean squat!
No problem. I was wondering what my health had to do with liability insurance! (More likely to have a seizure: more likely to harm a student?)