Boat Insurance....

[Capt. Debbie]

Definitely do call and get coverage if it's not buried somewhere else in that policy. After it sinks and salvage costs are $1,000's its a bad time to find out that salvage and boat value are shared in that $30K.

You want boat cost $30,000 coverage
AND
Salvage cost to at least $10,000
AND
Spill coverage_____________
AND
Physical injury Liability. __________
AND
Scrapping costs ( if not under salvage) _________


I knew a few people screwed in Sandy that way.

Wife was happy boat was gone. The owner was NOT.

Originally Posted by pcheesesteak

Thanks. I'll give a call to the insurance co. to verify this is true.

[pcheesesteak]

Tip of the hat to you, Captain, you were 100% correct. Verified with the insurance agent today. Thank you!

Update:

The insurance agent called the insurance company, which said:

Partial loss requiring salvage comes out of the agreed value.
Total loss requiring salvage comes out of the Watercraft Liability portion ($300K).

Your thoughts Captain?

[Capt. Debbie]

Thoughts? Just I was glad to help you catch this. Most do not know this BIG HOLES in heir coverage stuff until they are screwed after the boat is destroyed. One rare occurrence is the boat is over Capacity plate HP rating. They offer no coverage but will take you money until you tell them and pay for an over power rider. This is true even if it sinks at the dock.

Just glad to help. Now you tell/ save someone. LOL

Originally Posted by pcheesesteak

Tip of the hat to you, Captain, you were 100% correct. Verified with the insurance agent today. Thank you!

Update:

The insurance agent called the insurance company, which said:

Partial loss requiring salvage comes out of the agreed value.
Total loss requiring salvage comes out of the Watercraft Liability portion ($300K).

Your thoughts Captain?

[pcheesesteak]

Many thanks, Captain.

[Capt. Debbie]

Originally Posted by pcheesesteak

Many thanks, Captain.