Insurance Claims?

[Dmarina]

I posted the following on another Forum and got great responses, so I thought I would post the same here and see what you have to say.

Hello: I would like to know if anyone has filed an insurance claim and received a payment. We are about to purchase insurance for our boat and would like to know more information regarding insurance companies. We live in a boat yard and there are boats here that have claims and most of them are in court fighting insurance companies to cover their claims, so we are wondering if insurance is all the necessary. Thanks for any input. Diane
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Twenty years from now you will be more disappointed by the things that you didn't do than the ones you did do. So throw off the bowlines. Sail away from the safe harbor. Catch the trade winds. Mark Twain

[hellosailor]

Insurance companies routinely pay out claims. And deny them. Some companies are better than others.

If your boat yard requires you to have insurance, it is necessary. If the yard doesn't require it, that's your gamble. Generally if you hunt for the cheapest possible policy, it will be from a carrier that is cheap because they try to deny claims more often.

If "most" of your neighbors are in court fighting for claim payments, there is something very wrong. Perhaps with the neighbors, or the source of the claims, or the insurers.

[Dmarina]

Yes we are in a boat yard building our boat and are getting ready to launch it very soon. That is why I am looking for information regarding insurance companies. We will be going into a marina and we know they require insurance but should we insure more than what is required is the question. We will be doing, only coastal sailing in Southern California. Thanks for you response. Diane

[sailingdog]

Many marinas require a minimum of liability insurance coverage.