Yesterday, there was a discussion concerning lying on your auto
insurance, to help reduce your rates. This is a great way to lower your
cost, unless you actually have to file a claim.

The same is true about your boat insurance. If you lie about who uses
the boat, how often you boat, where you keep your boat and where you
boat, you could actually be without any insurance. The insurance
application is a legal contract, and to provide fraudulent information
on that contract provides the insurance company with the legal recourse
to cancel your insurance at any time, including, after you have had the
claim, but before they have paid for the claim.

I think it was Ben Franklin who said something about being penny wise
and pound foolish.

Make sure you answer ALL of the questions about your boat AND your auto
insurance correctly. If you misrepresent your auto driving record it
can result in you not have any boat insurance when it comes time to file
a claim.

Additional info from Insurance specialist:

"So what sort of lies do drivers tell their insurers when buying
insurance? Admiral has compiled a list of the five most common ways
people lie to insurers:


1. Withholding motoring convictions. By far the most common reason why
policies are canceled. People with motoring convictions tend to be bad
drivers and so pay more for their insurance. If you have had a motoring
conviction of any kind in the last five years, you must tell your insurer.

2. Undisclosed modifications to the car/boat. Modifying a car/boat so it
affects its performance or appearance means it is no longer a standard
model, and therefore a different risk. You must tell your insurer of any
modifications either you or a previous owner has made to your car/boat.


3. Insuring a young person's car/boat in the name of an older driver.
This is known as fronting and usually involves a parent insuring their
child's car/boat. Young people are a higher risk for insurance companies
because they have more accidents. You must tell your insurance company
who will be the main driver.


4. Withholding previous claims. You must tell your insurer of any
accidents or claims you have had in the previous three years, even if
the claim is settled or wasn't your fault. The insurance company needs
to know your insurance history.


5. Unacceptable licenses. Make sure you follow all of the local and
state licenses requirements. Some states require taking boating safety
courses. Not to have all users of the boat to have taken the safety
course, can void your insurance, even after you have filed the claim.

"Insurance companies have become much better at finding out if motorists
are lying, and we have a number of ways of investigating anyone we think
might not have told the truth.

"We are not trying to catch people out, but people must realise they
have to be honest with their insurer. They might think a little white
lie is harmless, but it could end up costing them a lot more in the long
run."

Reginald P. Smithers III wrote:
Yesterday, there was a discussion concerning lying on your auto
insurance, to help reduce your rates. This is a great way to lower your
cost, unless you actually have to file a claim.

The same is true about your boat insurance. I

If you ever buy a boat, you can follow the advice you googled.

"HK" wrote in message
...
Reginald P. Smithers III wrote:
Yesterday, there was a discussion concerning lying on your auto
insurance, to help reduce your rates. This is a great way to lower your
cost, unless you actually have to file a claim.

The same is true about your boat insurance. I

If you ever buy a boat, you can follow the advice you googled.

Hey Krausie, you got that lobster boat insured?