As far as I can tell ace, you are only limited by the policy that you currently have in effect. So if you upgraded and started paying the higher premiums each year you would not be bound by previous limits. DAN is not attempting to turn huge profits as most insurance companies do (DAN is not the insurance carrier, they are a central group paying for a group policy for their membership; yes, you have to be a member of DAN to purchase insurance through them.)

Littlelemur, I have seen a few rate increases over the years that I have carried DAN, but as any good group policy should be handled, everyone in the group pays a little rather than those who have filed claims having to pay a lot to make up for losses due to payouts. From an actuarial standpoint, this type of insurance is really fun to crunch the numbers on since you have to work with contrived averages (how many divers do you know that dive every single day of the year?) This is what allows them to offer what seems like really decent rates (and why so many of the policies are sold as secondary, rather than primary, policies.)

Just about all the policies are handled in the same manner, so the most important point is to just make sure that you have some sort of coverage.