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Insurance Nightmare... need a referral


Bdecker
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Sorry for what I know is a dull topic, but I have had an awful time with boat insurance and hope someone can point me in the right direction. The primary piece through SkiSafe or Global Marine is easy enough, but my umbrella provider specifically excluded the boat which got me looking. After weeks of back and forth, I was able to find one but they exclude use in the slalom course, so not much help. FYI, Progressive had an exclusion on the primary policy! SkiSafe and Global Marine have been no help in the umbrella space. What are the rest of you doing?
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@bdecker what do u mean by exclusion. I have Progressive and in 02 they stepped way up and payed for a new prop, shaft, rudder, and rudder box on a '87 Supra ts6m. Premiums stayed the same and they delt directly with the dealer. I didn't have to do anything. But times have changed so maybe I should be looking.
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Hopefully I'm just too conservative (or my agent is) but read the policy carefully. Property damage is not really my concern.

 

This was in the RLI umbrella:

"N. Injury arising out of or while you or any covered

person is participating in an organized, unorganized or

prearranged speed contest or race as an operator or

occupant of an Automobile, Recreational Vehicle, or

Watercraft. This exclusion does not apply to insured

Watercraft operated by sail."

 

I thought it was no problem but the agent confirmed with the carrier that this would apply to the slalom course.

 

The progressive policy exclusion was on page 5, item 4 of the policy and was even broader (she sent a PDF so I can't cut and paste. Basically saying any predefined or permanent course was excluded.

 

@wish-funny, I did the exact same thing to an 89 ts6m about 20 years ago. Paid a couple hundred in deductible and it was covered. Haven't been back in that river with my boat since...

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@alberto- while I agree completely with you- my concern is that the carrier (not agent) disagrees, which means I'm potentially paying for an empty promise.

@boarditup- that's exactly what I have been doing. The big premium increase this year is what started this search in hopes of dropping the limits, but I have decided to renew at the max limit.

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Unless you kill or maim someone deliberately or are grossly negligent in your actions, it is very unlikely that your primary boat insurance coverage would ever be exceeded. Your umbrella policy will, by definition be the last line of defense to protect your assets when something horrible has happened to someone and it is determined that you are at least partially responsible. I pay my umbrella policy each year with the full knowledge that they will probably never have to pay a dime. The more you read it, the less you will like it.
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As far as an umbrella excluding your boat I find that strange. Most policy language I have read does have a racing or timed event execption. Usually there is language in that parargragh about a sanctioned or an organized racing event. I have never heard of a slalom course exception. The underwriter is using the timed part of our sport to exclude the boat. What needs to be explained to the underwriter is the timeing device is a standard feature or factory option in ski boats. This option is used to verify the speed of the boat. The undewriter see that when your boat is in a slalom course fastest boat threw the course wins.

None of these would apply unless you are a promo boat. That is why it is important to carry high liabilty and have the correct endorsements on your promo boat. Global does a good job of staying on top of that.

 

Jeff Lindsey

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@Baja- I respectfully disagree. If someone gets seriously hurt in our sport a couple million bucks would be gone in a heartbeat. I pay my premiums with the hope that I never need to use it but try to protect whatever assets I can as well.

 

Thanks for the referrals- will try liberty and Allstate for umbrella. Back to focusing on how to run -38!

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I don't know if I'd depend on it, but I know of a lake owner who stands on the Outdoor Recreation Act of 1963 as an across the board indemnification of liability, so long as you do not charge a fee to be pulled by his boat or use his lake. You could research that.
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