Re: Insurance Coverage
Bobber and company, no offense, I am a real insurance broker. Been licensed for 30 years.
The umbrella policy I mentioned is strictly a liability function which I previously stated. That is to protect you from lawsuits.
Property losses if you loose your boat are another coverage. I agree call Vito. He is a sponser and as a licensed insurance broker I have him writing my coverage.
There is no question you should have marine insurance. The umbrella kicks in if someone sues you and your LIABILITY Limits are not sufficient. In other words if you are sued for 1,000,000 and only have $300,000 in liability on your marine liability the umbrella should pick up the difference. If you own a home, or other assets, you should carry a $1,000,000 umbrella policy, period. That is the purpose of an umbrella policy. It has nothing to do with you recovering money on your physical loss. It is to protect your assets.
Thus endith the lesson.
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Captain Shrimpy
100 ton master captain
Last edited by shrimpman steve; 12-23-2015 at 06:05 PM..
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