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#1
posted to rec.boats
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List of the most common marine insurance claims
Interesting that fire and explosion are so common, and that faulty DC
wiring (typically low voltage) is a frequent cause of boat fires: BOATU.S. LIST OF TOP INSURANCE CLAIMS While you may never expect to file an insurance claim on your boat, knowing why and how damages occur can help you reduce your chances. The January 2006 issue of Seaworthy, the damage avoidance newsletter from BoatU.S. Marine Insurance, reviewed five years of its own claim files to find the most common causes for insurance claims. Both the individual number of claims, as well as insurance claim dollar amounts, were factored in to compile the list. #9: Theft of equipment: Make time-consuming "work" for a thief, and they will likely go elsewhere. The theft of outdrives can be prevented by adding hefty locking nuts; the same goes for outboards and trailers. If they can be removed, expensive electronics should be stored under lock and key - and at home in winter. Well-lighted storage or marina facilities with security measures are the best deterrence. #8: Theft of boat: When thieves steal boats, they often strip everything of value leaving only a shell. Ninety percent of the boats stolen were on trailers, so removing tires, installing a coupler lock and parking in a well lit, secure area can help. #7: Lightning: Since there isn't anything you can do to prevent a lightning strike, the best measure to mitigate damage is to ensure your boat has a proper bonding system that will direct the strike to ground. #6: Grounding: What you do after you've hit bottom - such as attempting to power through - often causes more damage than the initial impact. It's best to stop, carefully evaluate the situation, wait for the tide or call for help if you need a gentle pull. Also, knowing the exact depth beneath your depthsounder's transducer and its exact position relative to the bottom or your boat or running gear is very important. #5: Collisions: Collisions with docks or pilings are common but collisions with other boats are more serious. Inattention, blind spots and too much speed most often are the culprit. Out on the water, misunderstandings of the rules of the road are most often cited, but know that it takes two skippers to be in one bad spot at the same time. #4: Wind and weather: Sloppy weather happens everywhere. Minimizing windage, tying up securely, guarding against chafe and staying protected help reduce storm damage. #3: Fire and explosion: The number one reason for boat fires is DC wiring faults, with the most common fault being chafed wires, usually as the result of poor support or insecure attachment. AC shorepower cord inlets are another prime area as wear and corrosion cause resistance, which creates a lot of heat. Corroded, overheated exhaust manifolds and fuel leaks bring up the bottom of the list. #2: Sinking: Lesser fittings like hoses and clamps only last a few years and often fail long before the beefy seacock they are attached to. Outdrive bellows over five years old are on borrowed time and rainwater improperly drained into the bilge by clogged scuppers kills your battery and bilge pump. #1: Striking submerged objects: Nationwide, striking a submerged object is the most common incident that leads to filing a claim. The amount of floating debris increases after major storms or extreme tides so be extra vigilant after these events. Unfortunately, striking an object sometimes leads to a sunken boat claim; check the bilge immediately after a strike and frequently thereafter. If you live in a hurricane prone state, hurricane damage also ranks high when you factor the dollar amount of each individual claim - hurricanes cause significant salvage and repair bills. Before the 2006 season starts, have a hurricane plan in place that spells out every precaution. You can go to http://www.BoatUS.com/hurricanes to get started with a free hurricane preparation worksheet |
#2
posted to rec.boats
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List of the most common marine insurance claims
wrote in message oups.com... Interesting that fire and explosion are so common, and that faulty DC wiring (typically low voltage) is a frequent cause of boat fires: BOATU.S. LIST OF TOP INSURANCE CLAIMS While you may never expect to file an insurance claim on your boat, knowing why and how damages occur can help you reduce your chances. The January 2006 issue of Seaworthy, the damage avoidance newsletter from BoatU.S. Marine Insurance, reviewed five years of its own claim files to find the most common causes for insurance claims. Both the individual number of claims, as well as insurance claim dollar amounts, were factored in to compile the list. #9: Theft of equipment: Make time-consuming "work" for a thief, and they will likely go elsewhere. The theft of outdrives can be prevented by adding hefty locking nuts; the same goes for outboards and trailers. If they can be removed, expensive electronics should be stored under lock and key - and at home in winter. Well-lighted storage or marina facilities with security measures are the best deterrence. #8: Theft of boat: When thieves steal boats, they often strip everything of value leaving only a shell. Ninety percent of the boats stolen were on trailers, so removing tires, installing a coupler lock and parking in a well lit, secure area can help. #7: Lightning: Since there isn't anything you can do to prevent a lightning strike, the best measure to mitigate damage is to ensure your boat has a proper bonding system that will direct the strike to ground. #6: Grounding: What you do after you've hit bottom - such as attempting to power through - often causes more damage than the initial impact. It's best to stop, carefully evaluate the situation, wait for the tide or call for help if you need a gentle pull. Also, knowing the exact depth beneath your depthsounder's transducer and its exact position relative to the bottom or your boat or running gear is very important. #5: Collisions: Collisions with docks or pilings are common but collisions with other boats are more serious. Inattention, blind spots and too much speed most often are the culprit. Out on the water, misunderstandings of the rules of the road are most often cited, but know that it takes two skippers to be in one bad spot at the same time. #4: Wind and weather: Sloppy weather happens everywhere. Minimizing windage, tying up securely, guarding against chafe and staying protected help reduce storm damage. #3: Fire and explosion: The number one reason for boat fires is DC wiring faults, with the most common fault being chafed wires, usually as the result of poor support or insecure attachment. AC shorepower cord inlets are another prime area as wear and corrosion cause resistance, which creates a lot of heat. Corroded, overheated exhaust manifolds and fuel leaks bring up the bottom of the list. #2: Sinking: Lesser fittings like hoses and clamps only last a few years and often fail long before the beefy seacock they are attached to. Outdrive bellows over five years old are on borrowed time and rainwater improperly drained into the bilge by clogged scuppers kills your battery and bilge pump. #1: Striking submerged objects: Nationwide, striking a submerged object is the most common incident that leads to filing a claim. The amount of floating debris increases after major storms or extreme tides so be extra vigilant after these events. Unfortunately, striking an object sometimes leads to a sunken boat claim; check the bilge immediately after a strike and frequently thereafter. If you live in a hurricane prone state, hurricane damage also ranks high when you factor the dollar amount of each individual claim - hurricanes cause significant salvage and repair bills. Before the 2006 season starts, have a hurricane plan in place that spells out every precaution. You can go to http://www.BoatUS.com/hurricanes to get started with a free hurricane preparation worksheet Prior to reading the full post and only the subject line I suspected sinking to be the number one claim. However, hitting submerged objects certainly makes sense as the most frequent cause of a claim. I was not surprised to see fire, wind/weather to be #3 and #4 respectively. It is possible to substantially reduce a number of these claims in all the cases listed by BoatUS if folks took responsibility and learned how to properly operate, maintain and secure their boats. Vigilance while at the helm and not drinking/driving would also help. I would guess that my 17 year old (18 next month) son knows more about safe boating, the rules of the road and boat maintenance than many of the clowns out on the water. BTW: He recently received his certification for Safe Boating from the US Power Squadron. He has operated our 32 footer and I look forward to working with him this Spring on fine tuning his boating skills on our 20 footer. I am proud of him as he took the PS course on his own without any prodding from me. |
#3
posted to rec.boats
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List of the most common marine insurance claims
JimH wrote:
snip... I would guess that my 17 year old (18 next month) son knows more about safe boating, the rules of the road and boat maintenance than many of the clowns out on the water. BTW: He recently received his certification for Safe Boating from the US Power Squadron. He has operated our 32 footer and I look forward to working with him this Spring on fine tuning his boating skills on our 20 footer. I am proud of him as he took the PS course on his own without any prodding from me. Good for him! I wish my sons were interested enough to take a boating course. I keep telling them my sailboat is all I'll have left for them to inherit as I plan to spend any monies I have over the next 30 years. |
#4
posted to rec.boats
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List of the most common marine insurance claims
"Don White" wrote in message ... JimH wrote: snip... I would guess that my 17 year old (18 next month) son knows more about safe boating, the rules of the road and boat maintenance than many of the clowns out on the water. BTW: He recently received his certification for Safe Boating from the US Power Squadron. He has operated our 32 footer and I look forward to working with him this Spring on fine tuning his boating skills on our 20 footer. I am proud of him as he took the PS course on his own without any prodding from me. Good for him! I wish my sons were interested enough to take a boating course. I keep telling them my sailboat is all I'll have left for them to inherit as I plan to spend any monies I have over the next 30 years. Thanks Don. He was raised on our boats since he was an infant and has a love for the water...........even now he has pictures of our boats and boating venues in his room. He loves boats and boating. He is looking forward to (and has earned) being able to take our 20 foot runabout out on his own, with friends, to do some cruising and water skiing. Based on his one on one with me this Spring, it is likely that will be happening this year. ;-) |
#5
posted to rec.boats
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List of the most common marine insurance claims
On Thu, 09 Mar 2006 00:16:54 GMT, Don White wrote:
JimH wrote: snip... I would guess that my 17 year old (18 next month) son knows more about safe boating, the rules of the road and boat maintenance than many of the clowns out on the water. BTW: He recently received his certification for Safe Boating from the US Power Squadron. He has operated our 32 footer and I look forward to working with him this Spring on fine tuning his boating skills on our 20 footer. I am proud of him as he took the PS course on his own without any prodding from me. Good for him! I wish my sons were interested enough to take a boating course. I keep telling them my sailboat is all I'll have left for them to inherit as I plan to spend any monies I have over the next 30 years. I like that attitude! Maybe I'll have to give a Grady White another look!! -- 'Til next time, John H ****************************************** ***** Have a Spectacular Day! ***** ****************************************** |
#6
posted to rec.boats
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List of the most common marine insurance claims
Don White wrote: JimH wrote: snip... I would guess that my 17 year old (18 next month) son knows more about safe boating, the rules of the road and boat maintenance than many of the clowns out on the water. BTW: He recently received his certification for Safe Boating from the US Power Squadron. He has operated our 32 footer and I look forward to working with him this Spring on fine tuning his boating skills on our 20 footer. I am proud of him as he took the PS course on his own without any prodding from me. Good for him! I wish my sons were interested enough to take a boating course. I keep telling them my sailboat is all I'll have left for them to inherit as I plan to spend any monies I have over the next 30 years. Great attitude. My father in law is still with us and turning 90 this year, and my own parents are both alive in their mid 70's. I hope never to inherit a dime from either because 1) it means somebody has died 2) they should be using their money to make their own lives more comfortable and enjoyable while they're here and not worrying about leaving it to the kids. In fact, if either of them should run out of money before their time is up I'll get out the checkbook, every month if need be, without a moment's hesitation. You often hear remarks when some retired person buys a very nice boat. Jealous bystanders might say, "What a shame, they should have left that money to their kids!" Nope. Not at all. Outliving your parents and hoping they die rich (so you can become all the richer) is not one of life's worthy pursuits. As for leabing the boat itself to the kids.........I think the vikings had the right idea. :-) |
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