Insurance: do you have it, should you get it?

[rjlipscomb]

Re: Insurance: do you have it, should you get it?

For the no need for insurance crowd:

I drive a battleship size SUV. While driving down the road one day minding my own business and enjoying life, a young girl in a small white Honda who is not paying attention while she tries to read the street signs swerves into my lane and hits me. I chase her down the road and she pulls over. I'm angry of course, she's crying of course, and after summing up the total damage (her car: broken mirror, My SUV: white paint scrape and a small dent which should clean-up and pop out okay) I agree to just let it go, no need to involve the insurance companies. We exchange information and leave. A week later, I get a stern letter from her insurance company looking for how I'm going to pay for the extensive damage to her car. Stupid me, that's why I have insurance and immediately notified my carrier to resolve.

Moral of the story, as mentioned above, insurance buys you peace of mind even when it's clearly not your fault.

 

[dingbat]

Re: Insurance: do you have it, should you get it?

Looks like if you are insuring a boat over 26', it's called yacht insurance. I'm thinking that would be more expensive. Anyone have yacht insurance out there?

A boat insurance co. told me there are no deductibles on liability. Is this everyone's experience?

I have a "yacht" policy on my 22?er. A yacht policy is nothing more than a premium, agreed value, insurance policy. The deductables on any insurance policy are negotiable.

Most insurance companies will write a yacht policy on a jet ski if you so desire.

 

[rucaradio]

Re: Insurance: do you have it, should you get it?

This thread got me off my duff and on the phone with my insurance agent. I was able to score a $500,000 liability policy INCLUDED FREE with my homeowners. If I want comprehensive (with a $100 deductible) it'll run me about $160/year. Pennies for the peace of mind it provides.

 

[Thad]

Re: Insurance: do you have it, should you get it?

This thread got me off my duff and on the phone with my insurance agent. I was able to score a $500,000 liability policy INCLUDED FREE with my homeowners. If I want comprehensive (with a $100 deductible) it'll run me about $160/year. Pennies for the peace of mind it provides.

KUDOS to you!!!

Now, may you never need it

 

[redone4x4]

Re: Insurance: do you have it, should you get it?

How that played into the thread is actually the reason I started this thread. I was reading on hers and it reminded me of the first two stories.

And I got to thinking, how many boaters out there do not have insurance. How many thought they did not need it. And most importantly, how to get people to understand the importance of it.

Redone, I.m glad this got you going on the insurance.
A big ATTABOY to ya.

I never thought I didnt need it.....I dropped it when it broke down and was sitting inside a empty warehouse that is secured until it was fixed. Now, there is no excuse. I have been trying for a few months to get it combined with my auto policy to get a reduced rate, but no luck. Hopefully BoatUS has some good news. I like insurance, its a good feeling knowing that your not riding with everything u own on the line lol.

 

[Home Cookin']

Re: Insurance: do you have it, should you get it?

One thing to keep in mind: the terms of the policies control and all policies are different. Never let anyone (even me) tell you what insurance coverage you have or don't have unless they have YOUR policy in front of them and they are trained or experienced. Even agents don't know. Your homeowner's, marine and umbrella all need to be coordinated. Each policy defines "boats" differently, and there are also different rules for who is covered in the boat and who is covered operating the boat.
As for accidents on a trailer, they will involve your auto insurance, and may or may not be covered by your marine insurance.
PS IMO the guy with the 30'+ boat and no insurance needs to be in jail.

 

[bluebayou]

Re: Insurance: do you have it, should you get it?

Agree. That or he'll bury himself eventually.

That's great, rucaradio. You must have under 26' then. No offense.

 

[Sikiguya]

Re: Insurance: do you have it, should you get it?

One thing to keep in mind: the terms of the policies control and all policies are different. Never let anyone (even me) tell you what insurance coverage you have or don't have unless they have YOUR policy in front of them and they are trained or experienced. Even agents don't know. Your homeowner's, marine and umbrella all need to be coordinated. Each policy defines "boats" differently, and there are also different rules for who is covered in the boat and who is covered operating the boat.
As for accidents on a trailer, they will involve your auto insurance, and may or may not be covered by your marine insurance.
PS IMO the guy with the 30'+ boat and no insurance needs to be in jail.

Well said. I want to emphasize the 'even agents don't know!' How many of you actually met with your agents? Mostly, it is licensed assistants that crammed for the state exam and got their license. If a claim happens, your policy is frozen in time. Whatever coverage you have at that moment is how the claim is settled. By the way, the statement about the trailer is absolutely correct. It would be on your auto insurance. Better companies will extend liability automatically. The 'cheap' companies will require an added coverage. Your insurance policy is a legal contract. How many of you will sign a legal contract without reading it detail first?!

 

[Sikiguya]

Re: Insurance: do you have it, should you get it?

For the no need for insurance crowd:

I drive a battleship size SUV. While driving down the road one day minding my own business and enjoying life, a young girl in a small white Honda who is not paying attention while she tries to read the street signs swerves into my lane and hits me. I chase her down the road and she pulls over. I'm angry of course, she's crying of course, and after summing up the total damage (her car: broken mirror, My SUV: white paint scrape and a small dent which should clean-up and pop out okay) I agree to just let it go, no need to involve the insurance companies. We exchange information and leave. A week later, I get a stern letter from her insurance company looking for how I'm going to pay for the extensive damage to her car. Stupid me, that's why I have insurance and immediately notified my carrier to resolve.

Moral of the story, as mentioned above, insurance buys you peace of mind even when it's clearly not your fault.

Ya should have called the cops! Word of advice...always call the cops. Once there is a police report, that is evidence and not a he said/she said. Oh yeah, remember that parking lots are private property. No matter if they are at fault, they will not be ticketed. If you have an accident on private property, you need witnesses...not just the one in your vehicle...get the name and number of anyone who might have seen anything!

 

[skysurfer2010]

Re: Insurance: do you have it, should you get it?

I just purchased my first boat yesterday. I just got insurance today. I went with progressive mainly because I could adjust how much coverage I wanted and it would show the adjusted price of the plan immediately before purchasing it. At first I selected a smaller coverage plan and it came out to $140. If I made monthly payments it was $12 a month. For much better coverage (100/500/100) it only went up to $240 which was something like $19 a month. It was a no brainer.

 

[jakebrake]

Re: Insurance: do you have it, should you get it?

for under $200 a year, versus someones medical bills, losing my vessel, a costly environmental clean up (the though of all of which make me cringe)? waste of money, nothing! I insure every one of my vehicle to the teeth for a reason.

 

[Home Cookin']

Re: Insurance: do you have it, should you get it?

<<How many of you will sign a legal contract without reading it detail first?!>>

Every damn one of us.

 

[rjlipscomb]

Re: Insurance: do you have it, should you get it?

Ya should have called the cops! Word of advice...always call the cops. Once there is a police report, that is evidence and not a he said/she said. Oh yeah, remember that parking lots are private property. No matter if they are at fault, they will not be ticketed. If you have an accident on private property, you need witnesses...not just the one in your vehicle...get the name and number of anyone who might have seen anything!

Public street, called the police and they said that unless there is an injury, they cannot come and for us to just exchange information. Which we did. No witnesses other than the statements made to our insurance companies and they obvious facts of aftermath.

Long story short... she said she was turning left in the right hand left turn lane and that I was in the left hand turn lane and went straight. My story, I was in the left thru land she was in the middle thru lane. I kept going straight. She was looking for the street signs and saw the left signal arrow and started to merge into the left hand lanes so she could make the left hand turn. But we both ended up going straight thru the intersection. I travel this route several times a week. She is new to the area and looking for the street signs.

Again, insurance provides peace of mind. Let them worry about it, that's why I pay for insurance.

 

[Showtime22]

Re: Insurance: do you have it, should you get it?

My liability Insurance is 105 a year. That's less then 2 tanks of gas.

Although I have been stopped multiple times by patrol and never asked for proof of insurance.

 

[Thad]

Re: Insurance: do you have it, should you get it?

I have never been asked for proof of insurance when stoped either. It is not a requirement in my state. But you had better have your registration card on board! Big fine.

My insurance company does not issue "proof of" cards. What I do have is a print out of my policy, it's active date and expiration date. Along with my agents name, work, and home number. Again, just incase. I do a lot of boating on waters away from my home area. I also carry on board a Recreational Boating Accident Form. You can print these of from the USCG site.

 

[dwhite1031]

Re: Insurance: do you have it, should you get it?

I added boat insurance to my auto and homeowners policy and wouldn't be without it. The cost increased the monthly premium less than the price of a nice lunch with my wife.

We just spent the 4th dodging jet skiers and some other not so courteous boaters on Lake LBJ. I'm not gonna take the chance of "the other guy" not being insured if he hits my boat or injures one of us.​

 

[sea wolf]

Re: Insurance: do you have it, should you get it?

Yep, my BoatUS insurance covers $800K for a fuel/oil spill, even someone that has that cash laying around wouldn't want to just pay that out.

When I was a member of BoatUS, I contacted them for a quote for my '87 Starcraft, 19ftr. They told me I needed a survey done on the boat. I told them to shove it, along with my membership.

 

[JimmyOOOOO]

Re: Insurance: do you have it, should you get it?

I insure my boat. Mainly in case of injury, but then again I don't invite libtards onto my boat so that shouldn't be an issue. You got hurt on my boat? Sorry but you didn't have to come along, much less get in the water or ask to be pulled behind the boat. In these liberal/national days personal responsibility seems to be a thing of the past.

I hate to get off topic, but are you really that small-minded to think that republicans/conservatives don't sue anybody? Turn off the TV and talk radio, you'll be a LOT smarter for it.

Back on topic, I purchased full coverage before I even found out it was required in the great "libtard" state of new york.

 

[oceansbreeze]

Re: Insurance: do you have it, should you get it?

I wouldn't go anywhere without it. I had made arrangements with my insurance company for coverage before I picked it up at the dealer, and we faxed the bill of sale to my agent before I left the dealers yard....

I'm pretty safe in the water, but you never know what can happen. I like knowing that if I am trailering it, and she flips in the ditch, or some moron smashes into her, she's covered. $213 a year for full coverage on a Princecraft 16'6" Pro series.

Just plain common sense all around.

 

[skargo]

Re: Insurance: do you have it, should you get it?

When I was a member of BoatUS, I contacted them for a quote for my '87 Starcraft, 19ftr. They told me I needed a survey done on the boat. I told them to shove it, along with my membership.

Really? I did a self survey and sent them pics( I have agreed value) and they were good. They've been nothing but great with me so far.