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Insurance Underwriter Alert
- On 8-27-04 I applied for insurance coverage thru "United Marine Underwriters"
- On 8-30-04 I received a quote that stated that they needed a copy of the survey. I faxed the survey that day.
- On 9-3-04 I receive an e-mail stating: "The survey for your vessel has been reviewed and approved. Once coverage
is bound, a letter of compliance to the survey recommendations will be
required within 30 days of effective date....."
- On 9-3-04 I called them and discussed the coverage and inquired what other info they needed. They indicated that they needed a few additional bits of information (hull number, etc) I immediately e-mailed them with the additional info.
- On 9-07-04 I call the underwriters to verify that they had received all necessary info. They indicated that they had and that everything was approved and they were ready to bind coverage BUT the insurance company was not binding coverage at the present time due to a "named storm" in the Atlantic. I fully understood the reasoning and after further discussion they assured me that once the restrictions on binding coverage in Florida, Georgia, SC & NC were lifted, they could bind the coverage.
- On 9-13-04 I call the underwriter to ask how long it took to issue the binder after the restrictions were lifted and they indicated that they could issue the binder immediately.
- On 9-14-04 I call the underwriter and asked if the newly named storm (Jeanne) would hold up issuance of the binder. They advised me that they could not write the policy due to the age of the boat. Per my calculations, the boat is 11 days older than it was when they committed to providing coverage. During the discussion that followed, the only thing they would say is that they made a mistake and the initial acknowledgement should never have been sent. Trying to find out why was like a dog chasing it''s tail around & around & around in circles with no intelligent explanation.
Fortunately, I had obtained several other quotes and after spending the last 5 hours on the phone, I have confirmed coverage with 2 other companies (after ALL "named storms" are out of the Atlantic)
You may wish to think long & hard before dealing with UNITED MARINE UNDERWRITERS.