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Old 09-30-2013
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Boat insurance question

earlier this summer i was told about an insurance provider that will also cover the costs of taking the boat out of the water, storage and placing the boat back in the water next season.... i never looked into it until now... Is there such a thing?
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Old 10-01-2013
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Re: Boat insurance question

Never heard of that. The closest is storm coverage that will pay all or part of a quick haul for a named storm warning.

It would be strange to buy insurance for a sure thing, like seasonal hauling. In order to make a profit, they would have to charge you more than it costs, since this "loss" would always be paid and not shared among all premiums.
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Last edited by Minnewaska; 10-01-2013 at 03:20 AM.
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Old 10-01-2013
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Re: Boat insurance question

I agree, it would be strange. I think it is likely for storms as well. Much cheaper to pull a boat and keep it on the hard during a hurricane than to take it's chances on the water. You can pull a lot of boats for the cost of replacing one of them. It's a numbers game.
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Old 10-01-2013
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Re: Boat insurance question

In the Chesapeake where I am, BoatUS pays half the cost of hauling for a named storm. I guess if the storm happens at the end of the season when you were going to haul for the winter anyway, you'll get half of the hauling cost paid at least.
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Re: Boat insurance question

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Originally Posted by DRFerron View Post
In the Chesapeake where I am, BoatUS pays half the cost of hauling for a named storm. I guess if the storm happens at the end of the season when you were going to haul for the winter anyway, you'll get half of the hauling cost paid at least.
This scam was frequently attempted last year during Sandy. Our marina refused to play along and I'm glad. That's the sort of insurance scam that costs the rest of us increased premiums. If one is hauling anyway, one didn't incur a loss. I happened to be scheduled to come out the day prior to Sandy and didn't even dream of a fake claim.

In fact, our marina declared, if you're doing a hurricane haul, you must go back in. Hurricane hauls are emergency placements, not the permanent shuffling necessary to get everyone out and placed appropriately for the entire winter.
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Re: Boat insurance question

Minnewaska, I suppose that's true. The only time we were hauled for a TS I never submitted a claim even though we had the boat put back into the slip. I'm saving our insurance for any big stuff that happens (dismastings, accidents, etc.) and the cost of hauling wasn't that much, comparatively.
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Old 10-01-2013
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Re: Boat insurance question

Minne, I wouldn't be so fast to call it a scam. If the insurer is going to pay to haul the boat, what difference is it whether you relaunch, sell it, or let the storm take it away? No one is being defrauded, if the policy says "will pay for..." and what got done is what the policy agreed.

Sounds more like a win-win situation than a fraud. Especially since most of us would rather be the LAST boat to be hauled, normally, so we can be the first to get back in. In the metroNYC area, that can mean staying in the water past Thanksgiving, unless you're forced off earlier.
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Re: Boat insurance question

My situation would have been ripe for the scam. We schedule our haul outs in early Sept. I was literally scheduled to come out for the year about a day before land fall in late Oct. The cost of a quick haul is entirely different than winter storage, which includes the haul and relaunch, along with storage in one per sq fee.

To effect the scam, the yard would have to bill the hurricane haul separately and then reduce the winter storage accordingly. Since it did not cost me one cent more than I was planning to pay for the winter, why would the marina fake it and the insurance company feel the need to pay? Many asked the marina to break the bill down and identify the haul as hurricane related, not winter storage related. That's dishonest and a scam, IMO.
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