FOR IMMEDIATE RELEASE
Press Contact: Scott Croft, 703-461-2864,
Date: June 6, 2007

WHAT'S SO DIFFERENT ABOUT BUYING FISHIN' BOAT INSURANCE?

Five Buying Tips from BoatU.S. Angler

When it comes to catching fish, most anglers already know the best
fishing spots, the best pole and reel combo to use, or the bait that's
most appealing to their prey. But buying insurance for your fishing
boat isn't so easy. When compared to buying other types of insurance,
some of the differences lie in the expensive tackle often found aboard
fishing boats, the need to trailer the boat to distant fishing grounds
or occasionally enter an amateur tournament.

Here are five questions any angler should ask when shopping for
insurance for their fishing boat:

1. The first choice: do you need an "actual cash value" or "agreed
value" policy? If you have an insurance claim, actual cash value
policies take depreciation into account when getting reimbursed for a
loss. For example, if your 12-year old bass boat is totaled, you will
be reimbursed for its actual, present day market value - not what you
paid for it. However, "actual cash value" policies are generally the
less expensive option.

"Agreed value" policies are generally more expensive but pay for
repairs or replacement up to the value stated on the policy - except
for a few specified items - regardless of the age or condition of the
boat or equipment. A partial loss, such as a stolen 10-year old fish
finder, is replaced "new for old." However, there is no wrong or right
answer in selecting one over the other - it all depends on your budget
and what risk you feel comfortable with.

2. Is my fishing gear covered? Fishing gear isn't "optional" for
anglers. So why do some insurance companies make you pay extra for
this coverage? Any fishing boat insurance policy should automatically
include some type of coverage for expensive tackle.

3. What is the fine print on towing assistance services? Like an "auto
club," some fishing boat insurance policies include on-the-water or
roadside assistance service. The problem is that when you need to call
upon these valuable non-emergency services - such as an on-the-water
gas delivery, a tow back to the launch ramp, or roadside jumpstart -
it counts against you as an insurance claim.
You shouldn't be penalized when taking advantage of these services.
Find an insurance company that offers them but does not require you to
file an insurance claim in order to use them.

4. Where can I go? Unlike a car insurance policy that is good for
every state you drive in, most boat insurance policies have what's
called "cruising grounds" which limit where the policy is in force.
Trailer your fishing boat outside those areas and you'll need to call
your company for an "extension" to ensure coverage remains in effect.

Look for an easy to use insurance policy that doesn't put limits on
where you can trailer your boat - especially if you have a smaller
boat.

5. What about tournament coverage? If you'd like to try your hand at a
local tournament, make sure the policy provides the liability coverage
required. Another thing to think about is what happens if you've paid
your entry fee but can't make the tournament because of a trailer
breakdown? Look for a policy that offers some type of reimbursement
for your entry fee if trailering troubles or other covered losses
prevent you from getting to the starting line.

(company pitch deleted)

On Jun 6, 8:22?am, Gene Kearns

An actual cash value (ACV) policy is almost like having no insurance
at all. Insurance companies will allow you to insure an item for any
amount that you dream up, but they will only pay an amount that they
want to.


The interesting aspect of many insurance companies' skinflint behavior
is that it normally applies far more to their own policy holders than
to folks with a claim for damage caused by any specific company's
policy holder. They can be almost generous with a victim.

When a sailboat failed to hit reverse in a timely manner and rammed
its anchor and bow pulpit through my transom several years ago, (the
sailboat was named "Penetration", by the way), the culprit's insurance
company was downright generous. We were scheduled to leave on our long
summer cruise the following week, and obviously the repairs were going
to take a lot longer than that. The perp's insurance company offered
to charter us a similar boat so we wouldn't miss our vacation cruise.
In the end, we did some quick and dirty temporary repairs to be able
to take our own boat......but it was commendable that the insurance
company made the offer.

On Wed, 06 Jun 2007 09:22:31 -0700, Chuck Gould
wrote:

The perp's insurance company offered
to charter us a similar boat so we wouldn't miss our vacation cruise.
In the end, we did some quick and dirty temporary repairs to be able
to take our own boat......but it was commendable that the insurance
company made the offer.

Defending against law suits is very expensive, and there is no
shortage of lawyers ready to take on your case.

-+


4. Where can I go? Unlike a car insurance policy that is good for
every state you drive in, most boat insurance policies have what's
called "cruising grounds" which limit where the policy is in force.
Trailer your fishing boat outside those areas and you'll need to call
your company for an "extension" to ensure coverage remains in effect.

Was talking to my insurance man the other day about the coverage that is
included with my homeowners policy. Supposedly covers a 14' or less boat
with 25hp or less motor. So, I figured my 14 boat with 9.9hp motor doesn't
need an additional policy but my recently purchased 16' boat will. In
discussion, he says something about the homeowners policy covering the
smaller boat on my property, like the farm pond (don't have one). I said,
what happens when I pull away from the dock on the river in front of my
place. He says "Well, your not on your own property, then are you? So, no
coverage, then, unless you have a separate boat policy." All of this was
news to me. I guess the homeowners policy is basically giving you coverage
on your boat as a personal property loss if it's stolen or something but no
liability if you use it and run into someone. You wouldn't believe how
insurance poor I am. Until, I qualified for medicare, over half my income
went to some kind of insurance.

Tom G.

Chuck Gould wrote:
:On Jun 6, 8:22?am, Gene Kearns
:
: An actual cash value (ACV) policy is almost like having no insurance
: at all. Insurance companies will allow you to insure an item for any
: amount that you dream up, but they will only pay an amount that they
: want to.
:

:The interesting aspect of many insurance companies' skinflint behavior
:is that it normally applies far more to their own policy holders than
:to folks with a claim for damage caused by any specific company's
olicy holder. They can be almost generous with a victim.

Remember that most insurance policies cover very different things for
the insured and for third parties. If you crash into someone else's
boat, you're liable for their losses. That includes not just the
physical damage to the boat, but also the economic losses, such as
loss of use, and lost income for a commercial vessel. Most policies
don't cover such losses for the insured.

On Wed, 06 Jun 2007 13:18:15 -0400, Wayne.B
wrote:

On Wed, 06 Jun 2007 09:22:31 -0700, Chuck Gould
wrote:

The perp's insurance company offered
to charter us a similar boat so we wouldn't miss our vacation cruise.
In the end, we did some quick and dirty temporary repairs to be able
to take our own boat......but it was commendable that the insurance
company made the offer.

Defending against law suits is very expensive, and there is no
shortage of lawyers ready to take on your case.

Those lawyers have quite the scam going on, don't they?