Fuzzy Insurance Language

[Harry Woods]

Marine insurance policy's contain exclusions and limitations that are incomprehensible to the average boater. Based on recent loses caused by Hannah and Ike, I am sure that several of the faithful were sitting on the edge of their chairs post storm hoping that they were adequately covered.

Would it be feasible to use the power of the B31 board to locate an independent consultant to review our policy's and make recommendations? I would be willing to pay a modest fee to insure that the bookies do not clean our clocks. What do you think?
Harry

[Sean B]

I've often thought that we should all get together and form our own non-profit insurance company. Not sure how you organize something like that though. That is essentially how USAA got started

[steve miller]

I was just looking at my new policy; says the insurance company will pay to have my boat hauled any time a hurricane, tropical storm, or nor'easter approaches. That's a new one on me. Does anyone else have a similar clause in their policy???

[Rawleigh]

Will they paint the bottom while they are at it?

[Capt. DQ]

Some policies have that now where you must pull your boat to be covered, because if it gets damaged and you did not pull it, it will not COVER ANY DAMAGES ON YOUR BOAT.

That's why at certain marina's they have a marina customer first come waiting to be pulled list, and a marina non-customer waiting list on a first come basis depending on how much room is left in the yard before a storm Etc.., so don't wait to long to get on that list or your screwed if you have major damage.

DQ

[Harry Woods]

Steve & Capt. DQ,
Thats my point. Insurance companies are famous for slipping these changes into the policy and amendments that could easily get by you. I would hate to find that provision the day after the storm. My marina has no services and the nearest yard has 200+ boats that would get priority. You were lucky to catch it.
Harry