Beware of BoatUS Insurance

[Rick Webb]

A point of comparison. I recently got quotes from Progressive. No line item for environmental cleanup / spills. When I asked, they said that was included in the liability limits. You'll notice on a Boat US policy, that item is a separate line with very high limits. That's one of the reasons I stick with Boat US and have also not found similar coverage from anyone else for the same price.

Don't trust that. They are leaving you hanging out in the wind. Leaving you to arraign contractors and make payments. That is what you are paying the insurance company to do. let them deal with the salvage and clean up rather than you paying and hoping to get reimbursed enough to cover what you paid. Allstate is the other company that folks have had issues with. The other thing that happens particularly after a storm they will send adjusters who know little or nothing about boats. Have a friend who just went through this with his Hobie one of the newer rotomolded ones. The adjuster wanted to give him a check for a couple of hundred dollars to have it "refiberglassed". Documentation from a dealer saying the hull needed to be replaced and that it was not a fiberglass boat did not sway the adjuster. Finally got an adjuster who knew a bit more and got it resolved.

 

[Tally Ho]

When I acquired my policy from BoatUS /Geico, they asked for a survey. Boat is a 1974 Cal. 120 of them built. I offered them a copy of 2 yr old survey, they asked I submit an owner survey. It was a listing of boat condition and stated value. We agreed on the AVP amount, they established the premium. I paid the premium. So far all is good.

Our marina has just upped the minimum liability levels to keep a boat in the slip. I advise you check your liability policy coverage values as you renew this year.

My marina raised (well, tried to raise) their liabilty insurance requirement from $300k to $1M a year ago or so after a major renovation to the Marina docks. They were also adding jet ski and paddle board rental (and everyone has to traverse the same alley to get to the open water).

The marina is municipally owned and I am sure a City lawyer figured it was a good idea to raise liability insurance since they were now going to be mixing boats and people on paddle boards, kayaks, etc.

Many slip holders responded that no other Marina in the area required that level of liability insurance, and the City backed down. we are required to name the marina as additional insured and provide them a copy of the insurance coverage annually.

So far, no kayakers have been run over, so all is well.

Greg

 

[dlochner]

So far, no kayakers have been run over, so all is well.

This is good. Now the jet skiers, that may be a different story.

 

[Crazy Dave Condon]

Who is the CEO of Geico? You could writ a professional letter asking to explain which those in lower management could or would not

If you do your homework with data/evidence, file a complaint with your State Insurance Commissioner. Insurance companies hate getting letters from the state Insurance Commissioner

 

[dlochner]

GEICO is owned by Berkshire Hathaway, the CEO of Berkshire is Warren Buffet. (No relation to Jimmy).

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