Insurance Coverage

[Capt. Debbie]

I think this is a great string.

Many find out too late their insurance coverage does NOT cover all they need with a boat.

Whether true marine insurance and homeowner policy's umbrella and boat rider coverage are VERY VERY DIFFERENT.

While liability coverage is a number you choose and pay for. The rest is staggering in differences.

Let's not forget boat insurance is optional.

It's a bad time to find out the difference when you looking at your destroyed sunken boat and the vessel recovery costs (about $100-200 per foot) are equal to the boat's value and your replacement check is being used to pay for recovery and if anything is eve left the disposal of the hulk.

Depending on age of boat you may not have anything left.

[shrimpman steve]

Frank
I agree good dialogue.

The umbrella policy is a separate policy. Not part of the homeowners. Some carriers will not write more then 500,000 or 1,000,000 in liability. This is where the umbrella policy comes in. Let's face it, we live in a litigious society and people sue for as much as they can. All the unbrella does is increase the "base" limit on the liability end. I recommend anybody who owns a car and a house carry as much liability as you can reasonably afford. The last thing you should be doing is driving around with minimum liability limits. God forbid you kill a family in an auto or boating accident, I guarantee you can't have enough liability coverage.

As far as the many exposures faced by boat owners, no question you are better off with a marine policy to bring you back to whole after a sinking or other incident.

Hopefully between the two of us we have opened peoples eyes as to the importance of insurance

Merry Christmas
Happy Chanukah
And a healthy new year!

[Charlie B]

Yes, sure did open my eyes...Charlie