Does insurance really not pay up?

[ausnp84]

Originally Posted by tsenator

But if you left your car unlocked in a dodgy neighborhood and it was stolen, insurance would pay for it.

Fine - unlocked and the keys in it, then insurance wouldn’t pay.

Regardless, everyone complains about insurance however it often comes down to folks not reading the fine print. The guy displayed a lack of common sense and wasn’t covered. Had he been paid by the insurer, that would’ve increased everyone else’s premium that little bit more, and then folks would’ve complained about that.

N

[sailorboy1]

Originally Posted by sailorboy1

well I am going to find out

for me it will be my first and I suspect the last

in the end Progressive paid me the agreed value of my boat

[sailingharry]

Originally Posted by ausnp84

Regardless, everyone complains about insurance however it often comes down to folks not reading the fine print. The guy displayed a lack of common sense and wasn’t covered.

Fine print is OK, if it is clear. Sometimes it isn't clear, sometimes it's "the way it is." Unlike car and auto insurance, there is not normally much government oversight, and inexcusable fine print (and interpretations that lay persons can't understand) are common.
* There is that case currently in litigation (mentioned in this thread?) about a boat that sank, and because a fire extinguisher was out of date, the policy was declared invalid, all premiums returned, and no coverage. I doubt many owners would have a solid enough understanding of their coverage to understand that ANY violation, no matter how insignificant (and UNRELATED!), makes the entire policy null and void. Anybody have standing rigging over 10 years old (guilty). Or an impeller over 1 year old (guilty, cleaning up the vane parts now...). Or a shaft bellows over the recommended age (I'm sure I'm guilty).

* Similarly, there is a pervasive belief that an LFP battery renders a policy void (or perhaps excludes damage from LFP). My policy, at least, does not include the words "Lithium" or "LFP" in it -- but there may be some language that gives wiggle room. The problem is, if it is there, I can't find it -- and so I'm of the reasonable belief that it isn't excluded. I could ask, but the answer would probably be unclear and non-binding anyway. The only way to really know is put one in, and have a sinking from a failed seawater strainer!



In short, it's hard for "due diligence" and "responsible shopping" to suss out the good from the bad, and often it's a case of "the bad or the bad."


Oh, and a lack of common sense? Really? He checked on the boat, including running the engine, two days before the sinking! In these parts (Maryland), the vast majority of boats are not covered ever.

[s/v Jedi]

Originally Posted by sailorboy1

in the end Progressive paid me the agreed value of my boat

What, you lost your boat?! Please say it wasn’t an electrical fire

[rslifkin]

Originally Posted by s/v Jedi

What, you lost your boat?! Please say it wasn’t an electrical fire

https://www.cruisersforum.com/forums...ng-282626.html

[s/v Jedi]

Originally Posted by rslifkin

https://www.cruisersforum.com/forums...ng-282626.html

Oh no! I completely missed this as we were out sailing and dealing with cold fronts etc.

I’m so sorry Don, so they totalled the boat even though the hull was fine?

I think you guys did an excellent job of getting the boat safe and moving in on your own power without outside help.

This also reminds me to not rely on AIS but actively use the radar at night. I think many fishing boats are without lights as well as without AIS. This year we arrived at Port Canaveral in the afternoon but often it’s early morning in the dark and there’s many out there at that time.

What are your plans?

[sailorboy1]

Originally Posted by s/v Jedi

Oh no! I completely missed this as we were out sailing and dealing with cold fronts etc.

I’m so sorry Don, so they totalled the boat even though the hull was fine?

What are your plans?

Boat wasn't totaled as it was only insured for about 50% of its value. Took the payout, sold a few big accessories and then sold boat in 4 days as it was. Ended up with about 80% of the boat value.

Closing on a house in Jacksonville Fl next week