Why have insurance???

[bigwormy]

i could pay for the lower unit, but that is not why i pay for my insurance. it just makes my blood boil to not have this paid for. with my deductible all it is they have to pay is 8 freaking 92. come on! like i said. ive never filed a claim or even had a ticket in over 10 years! insurance is just safe to have especially if you have any others in your boat. you never know what the smell of money could do to a "friend" if you had a boating accident.

[bigwormy]

Unless one has a new boat kind of a waste with full coverage as pro rated,for years carried full coverage on a 1985 373v ranger,the payoff wouldnt have boght a decent motor let alone another pristine boat.
I do fish T and 300k is a requirement,I cover the other guy running an allison 2002 with a 140 insurance is but about 100 bucks a year,does not cover me for hitting a log,so one is a tad more carefull.
Studies indicate any boater that has accidents is more prone to repeat same accidents-example guy has a collision in 2009,had one again in 2010 but killed someone.This did happen nearby.
Studies also indicate if not new not required and you arnt using full coverage,having to pay for mistakes you actually make less of them.
Thus why insurance companies raise when it hits the fan.
I sign a waiver prior to going out with a boater,yet if I knew the guy ever had a collision id sit it out and be out entry fee.
Are you positive it wasnt that sandbar that sticks out all the way across almost just prior to rich creek.Yatesville was always one of my favorites.

didnt hit the sand bar. saw the log. wasnt near rich creek.

[coombro]

i could pay for the lower unit, but that is not why i pay for my insurance. it just makes my blood boil to not have this paid for. with my deductible all it is they have to pay is 8 freaking 92. come on! like i said. ive never filed a claim or even had a ticket in over 10 years! insurance is just safe to have especially if you have any others in your boat. you never know what the smell of money could do to a "friend" if you had a boating accident.

It's a racket man they get us coming and going. Thats what you bought it for and they should pay up regardless of your claim. Hitting a log and lower unit damage or hitting a deer with your car. Thats what you been paying for that piece of mind for. Now your out of your boat 5+ weeks and more thanks to your agent. Then the time to repair your boat. Lot of down time. Good luck and let us know what happens in the long run.

[Fishin is life]

What company do you have Bigwormy?

[JoeB]

Allstate pulled this same crap on me a couple of years ago after being a customer for years and never filing a claim. Dropped 5 policies the next day that totaled about 5 k annually. They should have covered the $1500.00 claim.

[bobbyg47]

Why not just drop your coverage and start a savings account with the monthy payment you pay the insurance company? If you've been paying that amount over 20 years, you would have more than enough for your lower unit minus the BS. I do not own a boat yet, but am currently looking around. I will probably take this route when I purchase a boat. It just seems like this would be the easier route.

[stoner]

No boat insurance and your garage catches fire, I bet your home owners will not cover it. Most likely will cover equipment but nothng thats licensable. I would definately check on this and at least have it written in the policy if possible.
I speak from experience regarding a motor cycle that was stolen a while back.

[LMHunter]

No insurance.... you hurt someone or something....start praying!
If someone sues You get ready to lose your home, vehicles, any personal property or assets. They will take everything you own. If your homeowners insurance picks up and covers the claim you will more than likely be dropped and good luck finding another policy. The will also require you to pay back what they have paid for that claim because they are not liable to cover boating accidents. Don't want to pay it back and they will garnish your wages. Do yourself a HUGE favor and get boat ins.
Recommendations would be State Farm and Farm Bureau.

[coombro]

No boat insurance and your garage catches fire, I bet your home owners will not cover it. Most likely will cover equipment but nothng thats licensable. I would definately check on this and at least have it written in the policy if possible.
I speak from experience regarding a motor cycle that was stolen a while back.

You are right about that the higher dollar boats aren't covered at least not through farm buxxxx. Seperate policy required.

[adam7456]

Unless one has a new boat kind of a waste with full coverage as pro rated,for years carried full coverage on a 1985 373v ranger,the payoff wouldnt have boght a decent motor let alone another pristine boat.

I'm not sure who you have insurance with but State Farm doesn't work that way. You insure your boat for whatever value you feel it is worth and they will cover repairs up to that limit.

I've had 2 claims submitted to State Farm on 2 different boats. In both cases I was told to fax them an estimate from a shop and the next week I had a check. The last claim was for a crack in the hull. I didn't think they would cover it but the agent said to go ahead and file the claim. Book value of my boat is around $1,200 but like you said I couldn't even replace my motor for that much less the boat. I have coverage for the boat and trailer up to $8,000 and the personal property on the boat for $2,000. That coverage costs me $180 a year. The estimate for the crack in the hull came back at $3,400, almost 3 times the book value of the boat and motor. There was no hassle with State Farm at all. They didn't even send out an adjuster. Just fax the estimate and the next week there was a check in my mailbox.

State Farm has not jacked up my rates or dropped me despite having two claims. I highly recommend them. I've look at other insurance companies and the cheapest was about double the premium that State Farm had.

[RoadToad]

Don't just say you're going to file a complaint, do it!

http://insurance.ky.gov/online_complaint.aspx

[Jabbo]

Boy there sure is a lot of disdain for insurance companies out there..
I work for the largest boat insurer in the country. I think they are the best personally. Not because I work for them but because I know the extent they go through to be fair. A lot of people don't like the results sometimes but you get that with any company.
I will tell you that most insurance companies look at previous loss history as a partial way to rate people but most of the rating comes from your credit score.. Thats right.... So if you have poor credit, a lot of outstanding debt, etc. your insurance will likley be higher.
I don't write policies but I do handle claims. I have made a lot of people happy and ticked a lot of people off.
I can tell you that it is our policy to look for every available way to pay a claim. That does not mean we just pay stuff arbitrarily, we always refer to the policy and look for coverage. if it's not there it's not there. Most of our adjusters are highly trained and we can give you an exact reason why we are denying claim. If one has a claim that is denied, they need to ask why. I can assure you if I ever declined to pay a claim I have all my "T's" crossed and "I's" dotted. Insurance is not out to get you, but they are in the business to make money too. A lower unit can fail for multiple reasons. Many of these reasons can result in sudden jarring of the boat where one would think that they hit something and it be a completely internal failure never having hita thing other than water.
I hate to hear you had a bad experience and hope it all works out for ya so you can get back out and catch a BIGGUN!!.