Boat insurance question - SailNet Community
 
LinkBack Thread Tools
post #1 of 8 Old 09-30-2013 Thread Starter
Member
 
Join Date: Aug 2013
Posts: 33
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 0
 
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?
Grampian1989 is offline  
Quote Quick Reply Share with Facebook
Sponsored Links
Advertisement
 
post #2 of 8 Old 10-01-2013
Senior Member
 
Join Date: Feb 2010
Location: Narragansett Bay
Posts: 11,226
Thanks: 46
Thanked 237 Times in 222 Posts
Rep Power: 7
   
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.


To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.

Jeanneau 54DS

In the harsh marine environment, something is always in need of repair. Margaritas fix everything.

Last edited by Minnewaska; 10-01-2013 at 03:20 AM.
Minnewaska is offline  
Quote Quick Reply Share with Facebook
post #3 of 8 Old 10-01-2013
Senior Member
 
krazzz's Avatar
 
Join Date: Jul 2013
Location: Ludington, MI
Posts: 159
Thanks: 2
Thanked 8 Times in 8 Posts
Rep Power: 3
 
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.

Ludington, Michigan - Lake Michigan
1971 Ericson 32 Hull # 193
1974 Catalina 22

To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
krazzz is offline  
Quote Quick Reply Share with Facebook
post #4 of 8 Old 10-01-2013
Dragon Mod
 
DRFerron's Avatar
 
Join Date: Nov 2005
Location: SE Pennsylvania
Posts: 4,726
Thanks: 110
Thanked 212 Times in 194 Posts
Rep Power: 10
 
Dock
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.

Donna


To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.


To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
Catalina 30 TRBS
DRFerron is offline  
Quote Quick Reply Share with Facebook
post #5 of 8 Old 10-01-2013
Senior Member
 
Join Date: Feb 2010
Location: Narragansett Bay
Posts: 11,226
Thanks: 46
Thanked 237 Times in 222 Posts
Rep Power: 7
   
Re: Boat insurance question

Quote:
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.


To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.

Jeanneau 54DS

In the harsh marine environment, something is always in need of repair. Margaritas fix everything.
Minnewaska is offline  
Quote Quick Reply Share with Facebook
post #6 of 8 Old 10-01-2013
Dragon Mod
 
DRFerron's Avatar
 
Join Date: Nov 2005
Location: SE Pennsylvania
Posts: 4,726
Thanks: 110
Thanked 212 Times in 194 Posts
Rep Power: 10
 
Dock
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.

Donna


To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.


To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
Catalina 30 TRBS
DRFerron is offline  
Quote Quick Reply Share with Facebook
post #7 of 8 Old 10-01-2013
Reward for lost Kraken!
 
hellosailor's Avatar
 
Join Date: Apr 2006
Posts: 11,538
Thanks: 6
Thanked 136 Times in 133 Posts
Rep Power: 11
   
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.
hellosailor is offline  
Quote Quick Reply Share with Facebook
post #8 of 8 Old 10-01-2013
Senior Member
 
Join Date: Feb 2010
Location: Narragansett Bay
Posts: 11,226
Thanks: 46
Thanked 237 Times in 222 Posts
Rep Power: 7
   
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.


To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.

Jeanneau 54DS

In the harsh marine environment, something is always in need of repair. Margaritas fix everything.
Minnewaska is offline  
Quote Quick Reply Share with Facebook
Reply

Quick Reply
Message:
Options

By choosing to post the reply above you agree to the rules you agreed to when joining Sailnet.
Click Here to view those rules.

Register Now



In order to be able to post messages on the SailNet Community forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.
Please note: After entering 3 characters a list of Usernames already in use will appear and the list will disappear once a valid Username is entered.


User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.

Password:


Confirm Password:
Email Address
Please enter a valid email address for yourself.

Email Address:
OR

Log-in









Human Verification

In order to verify that you are a human and not a spam bot, please enter the answer into the following box below based on the instructions contained in the graphic.




Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page



Similar Threads
Thread Thread Starter Forum Replies Last Post
Insurance Question ??? rjcaudle Cruising & Liveaboard Forum 18 12-09-2011 06:25 PM
Insurance Question casey1999 General Discussion (sailing related) 6 08-04-2011 08:35 PM
new boat: insurance question Charrob General Discussion (sailing related) 16 06-02-2011 06:32 PM
Insurance Question donhaller Boat Review and Purchase Forum 11 01-08-2009 08:56 AM
Insurance Question????????????? Dmarina General Discussion (sailing related) 18 07-10-2008 09:05 PM

Posting Rules  
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On
Trackbacks are On
Pingbacks are On
Refbacks are On

 
For the best viewing experience please update your browser to Google Chrome