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Boat US Marine Insurance
My boat policy is about to renew and I thought I'd do a little shopping
based on posts I've read about Boat US being a reasonable alternative. Everything looked pretty much the same (including cost of coverage) until I got to "uninsured boater" line. My present policy assumes $50,000 and the Boat US is $300,000. I assume that if my vessel is a total loss with someone else at fault, the max. payout with my present policy is $50K (and the boat is worth significantly more). I'm mystified why my broker would write the policy this way and disappointed that I didn't see this previously. Anyone have any insight? Is my broker shortsighted or what? jps |
Boat US Marine Insurance
It sounds like your broker was shortsighted. At least you caught it.
-W "jps" wrote in message ... My boat policy is about to renew and I thought I'd do a little shopping based on posts I've read about Boat US being a reasonable alternative. Everything looked pretty much the same (including cost of coverage) until I got to "uninsured boater" line. My present policy assumes $50,000 and the Boat US is $300,000. I assume that if my vessel is a total loss with someone else at fault, the max. payout with my present policy is $50K (and the boat is worth significantly more). I'm mystified why my broker would write the policy this way and disappointed that I didn't see this previously. Anyone have any insight? Is my broker shortsighted or what? jps |
Boat US Marine Insurance
I had State Farm. They had the best price for my boat at the time when I
shopped them, Boat US, and Progressive. They sent my renewal and the premium was over 30% higher than the previous year with zero claims. They also had a nice, glossy, brochure explaining the reason for their large increase in Florida. I resubmitted my applications to Boat US and Progressive and Progressive came in lower than last year's premium with State Farm. I called them to make sure the limits were comparable and asked them why they were so much cheaper that the last time I shopped them. They said that they had expanded their "specialty" insurance coverages (boats, motorcycles, and even Segways!). I ended up switching and increasing my liability limits at the same time. I still saved over $300 from State Farms's new rate. Boat US came in much higher than Progressive but a tiny bit lower than State Farm. Dan jps wrote: My boat policy is about to renew and I thought I'd do a little shopping based on posts I've read about Boat US being a reasonable alternative. Everything looked pretty much the same (including cost of coverage) until I got to "uninsured boater" line. My present policy assumes $50,000 and the Boat US is $300,000. I assume that if my vessel is a total loss with someone else at fault, the max. payout with my present policy is $50K (and the boat is worth significantly more). I'm mystified why my broker would write the policy this way and disappointed that I didn't see this previously. Anyone have any insight? Is my broker shortsighted or what? jps |
Boat US Marine Insurance
I use State Farm myself. I have a "multi-multi" discount for autos,
homeowner's, business, and boat which make the overall package very attractive. My boat's insurance is 145/mo for 125k + liability, lost equipment, and weather / windstorm. (It does include 2 million flood which crosses over to home.) and there is an "up to" 500k medical per incident as well. My boat is valued at 195k. Perhaps you can save a little by buying more. Two Axioms for you: 1. Flares are like blessings, you can never have enough. 2. Better to be over insured then under insured. Do all the math before making a decision. BTW, Boat US will drop you like a hot rivet if you ever make a claim. Regards, Capt. Frank http://www.home.earthlink.net/~aartworks jps wrote: My boat policy is about to renew and I thought I'd do a little shopping based on posts I've read about Boat US being a reasonable alternative. Everything looked pretty much the same (including cost of coverage) until I got to "uninsured boater" line. My present policy assumes $50,000 and the Boat US is $300,000. I assume that if my vessel is a total loss with someone else at fault, the max. payout with my present policy is $50K (and the boat is worth significantly more). I'm mystified why my broker would write the policy this way and disappointed that I didn't see this previously. Anyone have any insight? Is my broker shortsighted or what? jps |
Boat US Marine Insurance
My boat is valued at 195k.
Say again? |
Boat US Marine Insurance
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Boat US Marine Insurance
On Tue, 13 Jan 2004, jps wrote:
My boat policy is about to renew and I thought I'd do a little shopping based on posts I've read about Boat US being a reasonable alternative. Everything looked pretty much the same (including cost of coverage) until I got to "uninsured boater" line. My present policy assumes $50,000 and the Boat US is $300,000. I assume that if my vessel is a total loss with someone else at fault, the max. payout with my present policy is $50K (and the boat is worth significantly more). I'm mystified why my broker would write the policy this way and disappointed that I didn't see this previously. Anyone have any insight? yes, you're an asshole Is my broker shortsighted or what? no, you're an asshole, starting a normal thread to try and convince people that you're not such an asshole (but you are) jps |
Boat US Marine Insurance
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Boat US Marine Insurance
jps wrote in message .. .
My boat policy is about to renew and I thought I'd do a little shopping based on posts I've read about Boat US being a reasonable alternative. Everything looked pretty much the same (including cost of coverage) until I got to "uninsured boater" line. My present policy assumes $50,000 and the Boat US is $300,000. I assume that if my vessel is a total loss with someone else at fault, the max. payout with my present policy is $50K (and the boat is worth significantly more). I'm mystified why my broker would write the policy this way and disappointed that I didn't see this previously. Anyone have any insight? Is my broker shortsighted or what? "Uninsured Boater" coverage does not cover your boat. The hull value is covered by "Boat and Boating Equipment Coverage", which the Boat US policy equivalent to Collision and Comprehensive on your car. Just like if you're hit in your car by an uninsured driver - it's your collision coverage that repairs your car, not your unisured motorist coverage. "Uninsured Boater" covers those damages for which the uninsured boater may be liable to you, except your boat itself. It would cover, for example, medical expenses for you if the uninsured other guy was at fault in a collision. |
Boat US Marine Insurance
My two boats are insured as part of the house/car/personal liability package, both boats are insured for full replacement value (new) and about a zillion dollars liability and under-insured boater. The full replacement value trick insures that I will at least get what I paid for the boats without any deduction. Sounds like perhaps you're with Encompass, formerly known as CNA? |
Boat US Marine Insurance
On Tue, 13 Jan 2004 16:20:42 -0800, jps wrote:
My boat policy is about to renew and I thought I'd do a little shopping based on posts I've read about Boat US being a reasonable alternative. Everything looked pretty much the same (including cost of coverage) until I got to "uninsured boater" line. My present policy assumes $50,000 and the Boat US is $300,000. I assume that if my vessel is a total loss with someone else at fault, the max. payout with my present policy is $50K (and the boat is worth significantly more). I'm mystified why my broker would write the policy this way and disappointed that I didn't see this previously. Anyone have any insight? Is my broker shortsighted or what? My two boats are insured as part of the house/car/personal liability package, both boats are insured for full replacement value (new) and about a zillion dollars liability and under-insured boater. The full replacement value trick insures that I will at least get what I paid for the boats without any deduction. The only thing I can say about BoatUS is that I know somebody who placed a claim, non-total, and BoatUS dropped him like a hot potato. Later, Tom S. Woodstock, CT ---------- "My rod and my reel - they comfort me." St. Pete, 12 Lb. Test |
Boat US Marine Insurance
On Wed, 14 Jan 2004 04:27:50 -0700, "RG" wrote:
My two boats are insured as part of the house/car/personal liability package, both boats are insured for full replacement value (new) and about a zillion dollars liability and under-insured boater. The full replacement value trick insures that I will at least get what I paid for the boats without any deduction. Sounds like perhaps you're with Encompass, formerly known as CNA? Used to be and they wrote a terrific policy - affordable too. The current policies are a custom job done by an attorney for personal and business reasons. Later, Tom S. Woodstock, CT ---------- "My rod and my reel - they comfort me." St. Pete, 12 Lb. Test |
Boat US Marine Insurance
I have had good experience with Boat US. My last policy had no coverage for
non boating personal items. This was an add on. Cost me a $700 video camera that went over the side, not covered!! Tom Foppiano Atlantic Beach, Fla. "jps" wrote in message ... My boat policy is about to renew and I thought I'd do a little shopping based on posts I've read about Boat US being a reasonable alternative. Everything looked pretty much the same (including cost of coverage) until I got to "uninsured boater" line. My present policy assumes $50,000 and the Boat US is $300,000. I assume that if my vessel is a total loss with someone else at fault, the max. payout with my present policy is $50K (and the boat is worth significantly more). I'm mystified why my broker would write the policy this way and disappointed that I didn't see this previously. Anyone have any insight? Is my broker shortsighted or what? jps |
Boat US Marine Insurance
Sounds like perhaps you're with Encompass, formerly known as CNA? Used to be and they wrote a terrific policy - affordable too. The current policies are a custom job done by an attorney for personal and business reasons. I've been with CNA/Encompass for 13 years, using their USP Elite product, and really like the concept of a single policy covering all property and casualty risks, including excess liability. Very well written coverage. Sounds like you've taken that concept even further with your custom package. Good move. |
Boat US Marine Insurance
On Wed, 14 Jan 2004 07:22:09 -0700, "RG" wrote:
Sounds like perhaps you're with Encompass, formerly known as CNA? Used to be and they wrote a terrific policy - affordable too. The current policies are a custom job done by an attorney for personal and business reasons. I've been with CNA/Encompass for 13 years, using their USP Elite product, and really like the concept of a single policy covering all property and casualty risks, including excess liability. Very well written coverage. Sounds like you've taken that concept even further with your custom package. Good move. Didn't have a lot of choice what with insuring the kids cars, my boats, some investment real estate, yada, yada, yada. :) I will say this - CNA was a great company to work with - had a couple of claims and they didn't even burp - no cancellation, no nothing,. adjusters very cooperative and knowledgable - couldn't ask for better service. Later, Tom S. Woodstock, CT ---------- "My rod and my reel - they comfort me." St. Pete, 12 Lb. Test |
Boat US Marine Insurance
I will say this - CNA was a great company to work with - had a couple of claims and they didn't even burp - no cancellation, no nothing,. adjusters very cooperative and knowledgable - couldn't ask for better service. My experience as well. Call the claims dept., tell them the problem, fax them a quote, a check's in the mail the next day. Simply outstanding customer service. Always felt I was paying a premium price for a premium product, which is the way I prefer to do things. I've never regretted buying quality in any purchase ever made. Frequently have regretted purchases made based on price alone. |
Boat US Marine Insurance
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Boat US Marine Insurance
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Boat US Marine Insurance
I placed a claim with Boat/US was completely satisfied with the service and
the speed they completed the inspection and paid the claim. The only thing I lost by filing the claim is the 10% deduction for not filing a claim within the last year. My claim was due to hurricane damage not due to operator error, so it is quiet possible they would have dropped me if they thought I was a bad risk. Since I also use Geico who has a reputation for dropping high risk people, I like the idea of doing business with those who keep fees low by only insuring low risk individuals. "Short Wave Sportfishing" wrote in message ... On Tue, 13 Jan 2004 16:20:42 -0800, jps wrote: My boat policy is about to renew and I thought I'd do a little shopping based on posts I've read about Boat US being a reasonable alternative. Everything looked pretty much the same (including cost of coverage) until I got to "uninsured boater" line. My present policy assumes $50,000 and the Boat US is $300,000. I assume that if my vessel is a total loss with someone else at fault, the max. payout with my present policy is $50K (and the boat is worth significantly more). I'm mystified why my broker would write the policy this way and disappointed that I didn't see this previously. Anyone have any insight? Is my broker shortsighted or what? My two boats are insured as part of the house/car/personal liability package, both boats are insured for full replacement value (new) and about a zillion dollars liability and under-insured boater. The full replacement value trick insures that I will at least get what I paid for the boats without any deduction. The only thing I can say about BoatUS is that I know somebody who placed a claim, non-total, and BoatUS dropped him like a hot potato. Later, Tom S. Woodstock, CT ---------- "My rod and my reel - they comfort me." St. Pete, 12 Lb. Test |
Boat US Marine Insurance
"jps" wrote in message
Okay, I understand but the question remains. Why would my broker write the policy for $50K "uninsured boater?" If someone were to get hurt, $50K can get eaten up pretty fast... The reason a broker would write that policy is it allowed him to give you a low price, so you would buy the policy from him, allowing him to make his commission. He did not do his job, and I would look for another insurance agent and company. |
Boat US Marine Insurance
"jps" wrote in message ... In article , says... jps wrote in message .. . My boat policy is about to renew and I thought I'd do a little shopping based on posts I've read about Boat US being a reasonable alternative. Everything looked pretty much the same (including cost of coverage) until I got to "uninsured boater" line. My present policy assumes $50,000 and the Boat US is $300,000. I assume that if my vessel is a total loss with someone else at fault, the max. payout with my present policy is $50K (and the boat is worth significantly more). I'm mystified why my broker would write the policy this way and disappointed that I didn't see this previously. Anyone have any insight? Is my broker shortsighted or what? "Uninsured Boater" coverage does not cover your boat. The hull value is covered by "Boat and Boating Equipment Coverage", which the Boat US policy equivalent to Collision and Comprehensive on your car. Just like if you're hit in your car by an uninsured driver - it's your collision coverage that repairs your car, not your unisured motorist coverage. "Uninsured Boater" covers those damages for which the uninsured boater may be liable to you, except your boat itself. It would cover, for example, medical expenses for you if the uninsured other guy was at fault in a collision. Okay, I understand but the question remains. Why would my broker write the policy for $50K "uninsured boater?" If someone were to get hurt, $50K can get eaten up pretty fast... Then your liability insurance kicks in. If someone other than the insured is injured on your boat, it is your liability that works. If you are injured by an uninsured boater / motorist then the uninsured motorist part will pay the deductibles, etc from your health policies. And boat / car damages upto the limits. |
Boat US Marine Insurance
jps wrote in message . ..
In article , says... I have had good experience with Boat US. My last policy had no coverage for non boating personal items. This was an add on. Cost me a $700 video camera that went over the side, not covered!! Those sorts of things are usually covered by homeowners policies if you aren't covered by the boat policy. The only trouble with that, is the fact that if you have a reasonable premium, then the deductible is usually higher than the loss!! Also, the way the market is today, one claim, and they cancel you, and when you are cancelled because of a claim, it is pure hell getting another policy. |
Boat US Marine Insurance
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Boat US Marine Insurance
"jps" wrote in message ... Everything looked pretty much the same (including cost of coverage) until I got to "uninsured boater" line. My present policy assumes $50,000 and the Boat US is $300,000. I assume that if my vessel is a total loss with someone else at fault, the max. payout with my present policy is $50K (and the boat is worth significantly more). I don't think that is correct, unless you are only getting liability coverage. You want to be covered for a large amount of liability, regardless of the size or value of your boat. I was witness to a 18 foot runabout causing millions of dollars in damage (it caught fire, drifted into a dock of very expensive boats). Depending on the value of your boat (and perhaps the bank) you may elect for insurance that will cover any damage to your boat, regardless of the nature of the damage. It could be an accident where you were at fault, storm damage, theft, etc. This coverage generally wants to be for the true value of the boat. Then the insurance companies tend to throw other line items in there. For example, my BOAT US policy contains: "Fuel and other Spill Liabilty": This is becoming an important item as the law enforcement agencies are starting to get tough on spills. I have heard tales of some very large fines for relative minor fuel spills. "Medical Payments": if someone gets hurt on your boat (slips and falls) then this will provide some amount of coverage. If everyone who is likely to ever be aboard your boat has their own insurance, you can skip this or make it small to cover their deductable or co-pay amounts. "Personal effects": if your boat sinks, this covers all the items you had aboard. Uninsured Boater: if someone else causes an accident who does not have insurance, and there are expenses incurred that are not covered by everything else, then this will kick in. It might pay additional to medical, personal effects, fuel spills, etc. I'm mystified why my broker would write the policy this way and disappointed that I didn't see this previously. Before you blame your broker, check and make sure what Uninsured Boater means to them. Perhaps your broker was really doing you a favor by not providing double coverage. Anyone have any insight? Is my broker shortsighted or what? No, I think your broker was doing it right. I am sure if you asked for more they would gladly provide it, but it may be redundant coverage. Rod McInnis |
Boat US Marine Insurance
"Calif Bill" wrote in message link.net...
"jps" wrote in message ... In article , says... jps wrote in message .. . My boat policy is about to renew and I thought I'd do a little shopping based on posts I've read about Boat US being a reasonable alternative. Everything looked pretty much the same (including cost of coverage) until I got to "uninsured boater" line. My present policy assumes $50,000 and the Boat US is $300,000. I assume that if my vessel is a total loss with someone else at fault, the max. payout with my present policy is $50K (and the boat is worth significantly more). I'm mystified why my broker would write the policy this way and disappointed that I didn't see this previously. Anyone have any insight? Is my broker shortsighted or what? "Uninsured Boater" coverage does not cover your boat. The hull value is covered by "Boat and Boating Equipment Coverage", which the Boat US policy equivalent to Collision and Comprehensive on your car. Just like if you're hit in your car by an uninsured driver - it's your collision coverage that repairs your car, not your unisured motorist coverage. "Uninsured Boater" covers those damages for which the uninsured boater may be liable to you, except your boat itself. It would cover, for example, medical expenses for you if the uninsured other guy was at fault in a collision. Okay, I understand but the question remains. Why would my broker write the policy for $50K "uninsured boater?" If someone were to get hurt, $50K can get eaten up pretty fast... Then your liability insurance kicks in. If someone other than the insured is injured on your boat, it is your liability that works. If you are injured by an uninsured boater / motorist then the uninsured motorist part will pay the deductibles, etc from your health policies. And boat / car damages upto the limits. Not neccesarily. Liability coverage only covers you if you are found negligent. If the accident was someone elses fault, your liability coverage may not kick in at all. So the amount of "unisured boater" coverage is something to consider. And "unisured boater" coverage does not cover damage to your boat. Your "boating and boating equipment" coverage would handle that. |
Boat US Marine Insurance
"Curtis CCR" wrote in message om... "Calif Bill" wrote in message link.net... "jps" wrote in message ... In article , says... jps wrote in message .. . My boat policy is about to renew and I thought I'd do a little shopping based on posts I've read about Boat US being a reasonable alternative. Everything looked pretty much the same (including cost of coverage) until I got to "uninsured boater" line. My present policy assumes $50,000 and the Boat US is $300,000. I assume that if my vessel is a total loss with someone else at fault, the max. payout with my present policy is $50K (and the boat is worth significantly more). I'm mystified why my broker would write the policy this way and disappointed that I didn't see this previously. Anyone have any insight? Is my broker shortsighted or what? "Uninsured Boater" coverage does not cover your boat. The hull value is covered by "Boat and Boating Equipment Coverage", which the Boat US policy equivalent to Collision and Comprehensive on your car. Just like if you're hit in your car by an uninsured driver - it's your collision coverage that repairs your car, not your unisured motorist coverage. "Uninsured Boater" covers those damages for which the uninsured boater may be liable to you, except your boat itself. It would cover, for example, medical expenses for you if the uninsured other guy was at fault in a collision. Okay, I understand but the question remains. Why would my broker write the policy for $50K "uninsured boater?" If someone were to get hurt, $50K can get eaten up pretty fast... Then your liability insurance kicks in. If someone other than the insured is injured on your boat, it is your liability that works. If you are injured by an uninsured boater / motorist then the uninsured motorist part will pay the deductibles, etc from your health policies. And boat / car damages upto the limits. Not neccesarily. Liability coverage only covers you if you are found negligent. If the accident was someone elses fault, your liability coverage may not kick in at all. So the amount of "unisured boater" coverage is something to consider. And "unisured boater" coverage does not cover damage to your boat. Your "boating and boating equipment" coverage would handle that. If the other person causes the accident and is uninsured, then is very likely that your liability coverage is going to kick in, if anybody besides you on your boat was injured. |
Boat US Marine Insurance
"Calif Bill" wrote in message ink.net...
"Curtis CCR" wrote in message om... "Calif Bill" wrote in message link.net... Then your liability insurance kicks in. If someone other than the insured is injured on your boat, it is your liability that works. If you are injured by an uninsured boater / motorist then the uninsured motorist part will pay the deductibles, etc from your health policies. And boat / car damages upto the limits. Not neccesarily. Liability coverage only covers you if you are found negligent. If the accident was someone elses fault, your liability coverage may not kick in at all. So the amount of "unisured boater" coverage is something to consider. And "unisured boater" coverage does not cover damage to your boat. Your "boating and boating equipment" coverage would handle that. If the other person causes the accident and is uninsured, then is very likely that your liability coverage is going to kick in, if anybody besides you on your boat was injured. Only if those people on your boat make a claim that you are legally liable. Generally that would mean they have to claim that you were negligent in some way. If that happens, it may have to go to court before your insurer pays. But this may be where I have something wrong. I am not sure if uninsured boater coverage pays you and anyone on your boat, or just you. The meat of description of the uninsured boater coverage on my policy is (caps are my emphasis): "...we will pay for the damages which, because of bodily injury recevied aboard the insured boat, YOU ARE LEGALLY ENTITLED TO RECOVER from the uninsured owner or operator of another boat that collides with the insured boat. "'Ininsured boater' and 'uninsured owner or operator' mean an owner or operator of a boat other than the [insured boat] who is leaglly responsible for the collision, and: "A. to whom no liability policy applies; or B. who cannot be identified (such as a hit-and-run operator)." Liability coverage mainly says: "...we will pay damages and any costs ASSESSED AGAINST YOU... for any claim for suit covered under this policy for bodily injury or property damage for which any INSURED BECOMES LEGALLY LIABLE though ownership, maintenance or use of the insured boat. We will settle and defend as we consider appropriate any claim or suit covered under this policy which asks for these damages..." As I said, your guests would have to make the claims, and possibly sue you. the insurer could defend against the suit. Could make friendship with your guests dicey - ya think? You can't make a liability claim against yourself. If another boater was at fault, the insurance company would have a case NOT to pay through your liability. And by the way - you can't simply accept liability in advance and expect the company to pay. There are usually exclusions, like mine, that say something like, "We will not provide liability coverage for... liability which has been assumed by the insured under a contract or agreement..." (Though they usually will cover liability under storage and slip rental contracts.) "Medical Payments" coverage is more likely what would kick in if you have it. It would probably kick in first as there is no assumption of fault associated with it. I used to think the same way you do about my auto insurance. But if your liability coverage is going to kick in when uninsured boater or medical payments runs out, why have the latter coverages all? My agent straightened me out on that when I asked. Your liability coverage only covers you when you are at fault. Uninsured boater/motorist provides coverage when someone else is at fault and doesn't have insurance or otherwise can't pay. Medical payements coverage provides coverage without assigning negligence to anyone. |
Boat US Marine Insurance
Boat US reduced my coverage to "dockside only" after my claim from Izzy
was processed. For the privilege of this reduced coverage I loose the 10% no claim reduction and my new premium for my February 1 renewal is up about 10%. So for this reduced coverage which translates into their reduced exposure my new premium is about 20% higher. Ron I don't recieve e-mail at this address because of spam. E-mail me at crtsrATmsnDOTcom. |
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