Join Date: Jun 2005
Location: Barnegat Bay, NJ
Thanked 51 Times in 48 Posts
Rep Power: 11
A guy on my dock is a CFO and actually ENJOYS reading insurance policies and jousting with underwriters. Says it's part of his job.
Hey I don't understand it either. But he did point out something I thought was interesting. He said most of the boat policies he looked at were exclusive. In other words they had a list of things they covered, everything else was excluded, and he claimed the list was written to exclude some pretty common things.
He described BoatUS as an inclusive policy that was written to include just about anything that happened to you on the water short of gross negligence.
I'm not an insurance geek. I just pay my premium and hope I never have to use it. Hopefully there's someone on the list who's in the business that can shed some light on this.
95 Catalina 30 Island Time
“The sail, the play of its pulse so like our own lives: so thin and yet so full of life, so noiseless when it labors hardest, so noisy and impatient when least effective." - Henry David Thoreau