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(Gould 0738) wrote in
:

Who cares whose fault it was. Apparently you don't understand the
nature of property insurance.

I understand that the nature of property insurance is that its a
written contract between the insured and the carrier.

The time to read your policy is *before* you hit something, rather
than after, (and then howl about the details of the contract you
signed).

The insurance company didn't come looking for you to turn you into a
victim. You hit something. They then performed as per the contract.
Your specific complaint is, what?

My specific complaint is that they aren't performing the contract as
written. I'm "howling" because I think they are making up new parts of the
contract that were never there. I have no problem with "depreciation."
Depreciation, as mentioned, means decline in value "due to wear and tear."
Absent something more in the contract, BoatUS can't simply assume there is
wear and tear based on the age of the part. We are NOT talking about the
market value of parts in question, we are taling about how much of their
useful life remains. What if I bought the boat and parked it for 10 years.
There would be absolutely no wear and tear on the prop shaft. My complaint
with BoatUS is that they simply assume wear and tear based on age without
even inspecting the part. My boat has very few hours and thus very little
wear and tear, so I believe they are depriving me the benefits of my
contract with them. The prop shaft by its nature has a very long useful
life (assuming you maintain the other parts) and certainly, the way I use
the boat, will last more than 15 years they assume in their chart. There
is nothing in the contract allowing them to use their own defintions and
assumptions. In fact,insurance law is exactly the opposite. If there is
any ambiguity in an insurance contract, the ambiguity is interpreted in
favor of the insured.