Boats For Sale:
Once again |
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eric lavine 
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Joined: August-13-2006 Location: United States Status: Offline Points: 13413 |
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 Topic: Once againPosted: November-14-2007 at 3:12pm |
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I can't stress enough on choosing the right insurance company, i have a newer boat here with a hole in the side and to repair the hole correctly you have to paint the entire side, 95% of insurance companies will allow this except of course the big three, this one happens to be nationwide. he beat down a $2800.00 estimate to $720.00, he only allows you to spot in the area and the clause doesnt allow you to paint match. once again choose wisely when looking for boat insurance
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"the things you own will start to own you"
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8122pbrainard
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Joined: September-14-2006 Location: Three Lakes Wi. Status: Offline Points: 41045 |
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Posted: November-14-2007 at 3:38pm |
Eric, Didn't you use you normal method of estimating for the insurance company? Take you actual cost and multiply by 4 and then enter that figure on your written estimate! I have mentioned it before but I will again. One of the prominent insurance companies in the classic boats area (especially wood) is Hagerty. I highly recommend against them. I can tell you some stories on them handling claims!!! |
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eric lavine
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Joined: August-13-2006 Location: United States Status: Offline Points: 13413 |
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Posted: November-14-2007 at 4:14pm |
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2800 divided by 4, i was trying for some x-mas money
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"the things you own will start to own you"
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eric lavine
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Posted: November-14-2007 at 4:16pm |
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the best so far to date for insurance is International Marine Underwriters out of Montana, i have not had a problem with them
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"the things you own will start to own you"
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Guests
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Posted: November-14-2007 at 10:59pm |
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got progressive...how are they eric?
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phatsat67
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Joined: March-13-2006 Location: Indiana Status: Offline Points: 6157 |
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Posted: November-15-2007 at 12:09am |
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Me too ryan.
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Bryan89
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Joined: March-23-2007 Location: United States Status: Offline Points: 119 |
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Posted: November-15-2007 at 12:17am |
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Stay away from Erie Insurance, last year I had an I/O sink from a muskrat chewing a hole in the bellows. I had full coverage but after a month and over 20 phone calls to my adjuster Erie did not pay a dime. I had everything with Erie house, cars and boat and they still refused to make any accommodations for my claim. I ended up selling the boat as salvage and buying my SN. I guess with the SN purchase I made something good out of the situation. I have no confidence in Erie and do not want anyone to get burned like I did.
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eric lavine
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Posted: November-15-2007 at 10:11am |
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the more popular the insurance company the less likely they are to pay the claim, alot depends on your policy, read the fine lines. The larger companies can afford to hire surveyors and will send auto adjusters to process the claim.
Bryan, did they tell you why? Ryan, we have problems with Progressive. We deal with the insurance companies on a daily basis, as with some you give them an invoice and they Fed-ex you a check the next day. most boat owners are afraid or dont even think of using thier insurance when something happens, if you wreck your car are you going to dig in your pocket to fix it? no...thats why you have insurance |
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"the things you own will start to own you"
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Bryan89
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Joined: March-23-2007 Location: United States Status: Offline Points: 119 |
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Posted: November-15-2007 at 12:22pm |
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I was told that my full coverage did not cover damage from rodents. A muskrat is considered a rodent therefore they would not pay. It was a mess, I learned to give as little info about the situation as possible. I told them I assumed it was a muskrat, their crack team of professionals determined (after a month) that was what it was. Later, I found out that I would have been better off saying I did not know what caused the damage. I also learned to read the fine print and don’t always take your agents word that you are covered.
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eric lavine
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Joined: August-13-2006 Location: United States Status: Offline Points: 13413 |
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Posted: November-15-2007 at 1:41pm |
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Bryan, the less info you give the better, the sole purpose of an adjuster or surveyor is to report the damage and save the company money, find a loop hole, lets face it who gives money away. over the years it made me wise to thier game and i try to squeeze them anyway i can.
I had a customer pull both tranny's into nuetral at full power which glazes the plates and causes them to slip on powering up, it was a big dollar job and at first he was going to pay out of pocket and i explained to him that it was an accident, he did not deliberately pull them into nuetral, he turned it into his Insurance company and they covered it with no questions asked. the point of this is to make boat owners realize what an accident is and why you pay for insurance. and with insurance repairs no corners are cut, if he was paying out of pocket i could of got by with just cleaning and re-clutching and it would have been a reliable repair, with the insurance company involved, i was able to re-bearing his transmissions, install new dampers, check the shafts for twist and so on and in no way could i have done all this extra if it was out of pocket and i have a legitimate reason to back these repairs up, my angle is if i dont do this or that i cant give a warranty to the insurance companies customer and it strong armes the insurance company.....everybody'S happy |
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"the things you own will start to own you"
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quinner
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Joined: October-12-2005 Location: Unknown Status: Offline Points: 5828 |
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Posted: November-15-2007 at 4:33pm |
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I had a boat destroyed by fire while in storage, the company paid the claim exactly as the agreed value, the only issue I ran into was they felt the trailer was repairable so they would not total it along with the boat, once I explained they could not use my trailer to transport the boat out of my concern of liability they agreed to pay the trailer agreed value as well.
A word of caution, once a claim is made do not be afraid to get the maximum of what should be covered, most carriers do not look at how much is paid out but simply that a claim was made, also they look at how many over 3 yr spans, more than 2 and you will most likely be dropped, one other word of caution do not even contact the insurance co. about a claim unless you are absolutely positive you are making one, this one got me when I called my broker about a potential claim, discussed the issue however never filed a claim, about 18 months later was forced to make a claim and they dropped me for 2 claims within a 3yr period. |
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eric lavine wrote: