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"JimH" ask wrote in message
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"JoeSpareBedroom" wrote in message
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"HK" wrote in message
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JimH wrote:
"HK" wrote in message
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JimH wrote:
"Vic Smith" wrote in message
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On Mon, 16 Jul 2007 20:37:12 -0400, Gene Kearns
wrote:

On Mon, 16 Jul 2007 18:21:12 -0400, "JimH" ask penned
the
following well considered thoughts to the readers of rec.boats:

"Hamish" wrote in message
ink.net...
I am in California. I just got the renewal bill for my personal
umbrella
policy, and the "Important Notice" brochure that always comes
with it said,
"The definition of insured is revised so that a person or
organization
using an insured's auto, RV or watercraft is no longer covered."
So, when
I let a valet park my car, he's not covered. If I loan my car to
a friend,
relative, or neighbor, they're not covered. If my ski boat was
running -
it isn't right now - and I let a friend drive it to tow me, he's
not
covered. (Yes, I know that my "underlying" car insurance covers
them up to
the limits of that policy, but those limits are only enough to
pay for a
stubbed toe.)

I called my agent and she was totally unaware of the change, and
asked me
to fax her a copy of the brochure. Then, once she called the
underwriters, she still seemed unconcerned. She was happy to
quote me the
increase in premiums to bring each of my car polcies up to the
same limits
that were formerly covered by the Umbrella. An additional $206
per year.
I will pay the money, because I own a home and it is vital that I
remain
insured up to a high limit.

I have taken the trouble to write this post because I think that
a lot of
other people will fail to read the "Important Notice" (the
brochure is 17
pages long), will simply write the check like they do every other
year,
and will end up with a big gap in their coverage. And their
insurance
agent won't take the trouble to call them or write them a
personal letter
telling about the big gap that just opened up in their coverage.
So, look
out! And warn your friends.

Ham

1. The valet company should have their own insurance.
*You* pay insurance premiums to make sure *you* are covered. Don't
assume that anybody else has you covered (they don't, though they
may
try to indemnify themselves). If you have to take them to court, be
sure that you can afford all of the justice that you feel you are
entitled to....

2. Don't loan your car or boat to anyone outside your family.
Ok, I'll buy that, but it doesn't cover any non-loaner legitimate
use
of your vehicle. Boats? Marina re-positioning your boat to another
slip (see? says they can do it in the lease agreement..... Personal
injury? You have a dangerous boat! Damage? See no evil, hear no
evil...... see #1 above)

3. Why should the insurance company cover anyone but you and your
family?
Because there *are* no-loaner issues to be dealt with....

So what is the big deal?
You have equity that other people want.... it really is a BIG DEAL!
Bingo. $206 yearly premium increase for the same coverage.

--Vic
Why in the world would you want to extend your general liability
umbrella coverage to any one but your family?

If you were smart...........you would pay zero extra as the changes
have no effect on you.

At a couple of ramps I use, I sometimes have to "manhandle" the boat
onto the trailer properly while someone else handles the tow vehicle.
Or, at launch, I sometimes stay in the boat while someone else backs
down the trailer. **** happens. I'd want coverage for nasty things
happening at those times, since I can't handle everything at once.

You are still covered as is your boat...............same as you always
were. The other guy however is no longer covered by your gl umbrella
coverage nor should he be.

Hopefully you get it now.

Well, if the other guy is driving my truck at the launch ramp, he is
using my truck. I'd hate to see that usage excluded.

It seems the company wants to insure the driver, not the vehicle, which
makes perfect sense. Let's say you have no tickets or accidents for 11
years, and a low premium to go along with it. Your friend's one of these
morons who has an accident and a serious ticket every 18 months. Why
should your policy cover him? Makes no sense, unless you think the goal
of a business is to lose money. His policy should cover him, no matter
whose vehicle he's driving.

Do you understand what an umbrella policy is? Apparently not.

What policies claim to cover has nothing to do with Harry's fantasy about
evil corporations vis-a-vis his needs. I was addressing his scenario.

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