In article ,
wrote:


On Sat, 30 Oct 2004 22:22:03 -0400, Gene Kearns wrote:

On 31 Oct 2004 00:08:21 GMT, (Gould 0738) wrote:


I replaced an engine within the last year.
Boat/US insurance. They were very fair.
Didn't cover much, (my policy didn't lead me to expect much, either) ...

This is the crux of the matter. One shouldn't expect pie-in-the-sky,
but, then, there is that nebulous... "what is covered" and "for how
much" problem. If you received what you *expected* to receive,
everybody is happy.... otherwise, somebody will feel (and perhaps
*be*) cheated.

This is where the agent should be explaining the details. If you want
coverage for XXX it'll cost this much, otherwise, expect to pay
XX+Something premiums... and the insurance company figures
depreciation in this manner....

If the insurance company states they will "depreciate" whatever... it
would be really nice if *everybody* knew exactly what that meant....
especially if not explicitly stated in the policy.

A policy should not be written in such language that it can be
"interpreted" after the fact..... if, that is, indeed, the case in
this matter.... based on the situation, as presented, it just
*sounds* shady....

Most people are over-insured. They have been bamboozled into thinking that they
need insurance to cover anything that might happen to them.

Insure for things you can't handle without help.

That means, have the highest deductibles you can get, and don't insure anything
that you can do without. You don't need to insure a $1000 outboard motor. Sure,
if you lose it, it will be a setback, but it won't cause you to become homeless.

Think.

BB

Yep.

I can rebuild my own engines. I won't like it, but I can do it.

If I blow one of them up, I will buy the parts, rip it apart, and rebuild
the engine on my own.

I won't like it, but I will do it.

Now if my boat SINKS, well, that's why I have my policy. While that
wouldn't put me in the poorhouse either, it'd seriously pizz me off if
I was running "naked" - so I have hull insurance against such things.

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