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Insurance premiums

Posted By: Anonymous

Insurance premiums - 05/03/12 03:51 PM

Just got the latest invoice from Gowrie for 2012/13 insurance on my Falcon - a 10% increase from 2011/12 to $388. Curious what others out there are seeing.
Posted By: waterbug_wpb

Re: Insurance premiums - 05/03/12 05:45 PM

not enough info to determine the increase...

What agreed value and deductible on your boat?
what limit of liability?
what navigational limits?

In general, premiums are increasing for pretty much every first-party coverage (where the carrier pays you - like property, equipment, home, etc) in FL it can be up to 28% if you're in a high hazard class/area/navigational region
Posted By: Kris Hathaway

Re: Insurance premiums - 05/03/12 06:35 PM

Declaration page for my Falcon 2009-2010 from Gowrie. Moved it to my Progressive Home & Auto policy for the 2010-2011 and saved about $100.
[Linked Image]

Attached picture DeclarationPage.jpg
Posted By: Anonymous

Re: Insurance premiums - 05/03/12 07:17 PM

Jay, I was just looking for an indication of what percentage increases people are seeing. But fwiw the details are similar to what Kris posted. $17k value, $850 deductable, P&I $300k, Uninsured boater $100k.
Posted By: waterbug_wpb

Re: Insurance premiums - 05/03/12 07:28 PM

"Not to exceed 10 miles from land"... yowch that could hurt anyone in T-500, GT-300 etc who may wander a bit offshore...

and no coverage for the trailer? would someone steal both?

And I agree that Progressive has thrown out some decent numbers lately compared to the premium increase you mentioned... Haven't tried Geico, but both of these carriers look at your credit rating and driving record...
Posted By: Karl_Brogger

Re: Insurance premiums - 05/03/12 07:44 PM

I've got the boat insured for $25k, the trailer for another $8k, and I think my premium is around $360 a year through Progressive.
Posted By: pgp

Re: Insurance premiums - 05/03/12 09:45 PM

I think my Progressive policy has a "named storm" exclusion. Everything else in Florida does!
Posted By: rehmbo

Re: Insurance premiums - 05/04/12 11:33 AM

I had to change providers this spring and shopped around. Progressive was the best I found @ $138/yr. (I also checked BoatUS and Gowrie)

Bit of an apples/oranges comparison - my TheMightyHobie18 & trailer is almost 25yrs old and only worth about $3000 now. I have 100k liability and a $500 deductible.

Tipping point for me was the included pet injury coverage. Actually - I just found it as I was leafing through the policy - how that got in there I'll never know.

Noticed my coastal navigation range is good for 75 miles though! When's the last time a non-spin boat ran the GT300?
Posted By: waterbug_wpb

Re: Insurance premiums - 05/04/12 01:47 PM

Originally Posted by pgp
I think my Progressive policy has a "named storm" exclusion. Everything else in Florida does!


I hope it was cheaper that way. I presume the logic there was that you'd hook up the trailer when you're leaving town in the path of a named storm....

Posted By: pgp

Re: Insurance premiums - 05/04/12 02:06 PM

I don't think the premium has changed much over the years but the storm exclusion is new.
Posted By: tback

Re: Insurance premiums - 05/04/12 03:00 PM

Originally Posted by Karl_Brogger
I've got the boat insured for $25k, the trailer for another $8k, and I think my premium is around $360 a year through Progressive.


Ditto,

And deductible is $125 vanishing.
Cost is $302



Attached picture InsuranceDeclarationPage_2012.JPG
Posted By: yurdle

Re: Insurance premiums - 05/04/12 07:54 PM

I insured my last boat through progressive for $5k for ~$200/year with a $250 ded., and it was totalled. That included the trailer, though, which was undamaged and customized, and that meant that they would keep the trailer (presumably goes to sit in a salvage yard.) if I took the payout. I bought the totalled boat and trailer back from them for $600 IIRC.

My next boat is insured for just under twice as much, with the same deductible, and the premium as actually LESS, at ~$150/year.

These also gave me about $85/year multi-policy discount off of my auto policy.

I think the premium discrepancy was due to ordering the first policy online which included roadside assistance and a few other things that don't apply to me, and I called for the second policy and only got the specific coverages I wanted.
Posted By: Karl_Brogger

Re: Insurance premiums - 05/04/12 09:24 PM

Insurance is a strange business. Explain to me how the multi-vehicle discount works? I added a 2nd pickup to my policy, (just liability), and my premium went down $240 a year. Go figure! Maybe it'd be a different story if I had comprehensive and collision on the 2nd pickup, but still, the liability is there.



Posted By: Jake

Re: Insurance premiums - 05/04/12 10:58 PM

Originally Posted by Karl_Brogger
Insurance is a strange business. Explain to me how the multi-vehicle discount works? I added a 2nd pickup to my policy, (just liability), and my premium went down $240 a year. Go figure! Maybe it'd be a different story if I had comprehensive and collision on the 2nd pickup, but still, the liability is there.





Because chances are you can't drive both vehicles at once?
Posted By: Team_Cat_Fever

Re: Insurance premiums - 05/04/12 11:21 PM

Originally Posted by Jake
Originally Posted by Karl_Brogger
Insurance is a strange business. Explain to me how the multi-vehicle discount works? I added a 2nd pickup to my policy, (just liability), and my premium went down $240 a year. Go figure! Maybe it'd be a different story if I had comprehensive and collision on the 2nd pickup, but still, the liability is there.





Because chances are you can't drive both vehicles at once?


Karl, That Jake fella is smart.You should listen up, he even used small words for you.
Posted By: waterbug_wpb

Re: Insurance premiums - 05/07/12 06:48 PM

Originally Posted by Jake
Originally Posted by Karl_Brogger
Insurance is a strange business. Explain to me how the multi-vehicle discount works? I added a 2nd pickup to my policy, (just liability), and my premium went down $240 a year. Go figure! Maybe it'd be a different story if I had comprehensive and collision on the 2nd pickup, but still, the liability is there.





Because chances are you can't drive both vehicles at once?


Hey, I need some help in my office. You got the brains for it....
How's your pole dancing technique?


More cars than drivers is a GOOD thing. Teenage drivers, however, is not such a good thing.
Posted By: Jake

Re: Insurance premiums - 05/07/12 06:53 PM

Originally Posted by waterbug_wpb
Originally Posted by Jake
Originally Posted by Karl_Brogger
Insurance is a strange business. Explain to me how the multi-vehicle discount works? I added a 2nd pickup to my policy, (just liability), and my premium went down $240 a year. Go figure! Maybe it'd be a different story if I had comprehensive and collision on the 2nd pickup, but still, the liability is there.





Because chances are you can't drive both vehicles at once?


Hey, I need some help in my office. You got the brains for it....
How's your pole dancing technique?


More cars than drivers is a GOOD thing. Teenage drivers, however, is not such a good thing.


The technique is there - it's probably just not something you would want to see though.
Posted By: Karl_Brogger

Re: Insurance premiums - 05/07/12 08:29 PM

No, I can't drive all three vehicles at once, but I can loan two of them out and be driving around in the third. Still though, less money for two vehicles? My bike is on its own policy.


Thanks for filling Jake in Todd. Them big 1s are tuf 4 me.
Posted By: waterbug_wpb

Re: Insurance premiums - 05/08/12 06:10 PM

Originally Posted by Karl_Brogger
but I can loan two of them out and be driving around in the third.


Yeah, you may want to check your policy about that... I know a few carriers that state if the drivers aren't listed on the policy, there's no coverage...

Remember two things about insurance in general:
- the devil is in the endorsements
- you often get what you pay for

And Jake, my pole dance is only legal in two states, and this ain't one of 'em
Posted By: daniel_t

Re: Insurance premiums - 05/08/12 10:19 PM

Insurance is like casino gambling... The house always wins.
Posted By: waterbug_wpb

Re: Insurance premiums - 05/09/12 03:46 PM

well, in FL that's not always the case. Check the public record on the number of insurance companies that fold each year. Even the past few years with no storms/damage. And they are supposed to be regulated by OIR.

Anyone remember Poe? I think we (FL policyholders) are still paying that mess off....

And don't get me started on Citizens or the CAT fund...
Posted By: pgp

Re: Insurance premiums - 05/09/12 04:07 PM

smile Why? I'd love to hear your explanation for why I'm subsidizing wealthy, water front property owners, while I can barely find access.
Posted By: waterbug_wpb

Re: Insurance premiums - 05/10/12 02:50 PM

Originally Posted by pgp
smile Why? I'd love to hear your explanation for why I'm subsidizing wealthy, water front property owners, while I can barely find access.


BEGIN RANT...

Because they contribute more $ to the politicians who control this crap. For you local politicos, I will (begrudgingly) give props to FL Sen. Garrett Richter (head of insurance and banking committee)for his efforts at trying to reduce Citizens and their vast policy count (they are currently the largest carrier in FL in terms of # of policies written)

Also, Citizens is about the only carrier to cover mobile homes/manufactured housing. All that stuff you see in the keys will likely end up on your tab if something bad goes down..

and if "the big one" hits, the CAT fund will sell bonds to fund the estimated $450 B shortage. Yeah, like I want to buy a bond from a state that just got totally wiped out. Maybe I'll buy some Greek bonds while I'm at it...

END RANT

You going sailing sometime soon?
Posted By: pgp

Re: Insurance premiums - 05/10/12 02:54 PM

You forgot to mention that we're picking up the tab for all those mega mansions with their foundations in the high tide line.

So, the next time you're looking for a place to launch your boat you may want to give some thought to the fact that you're paying for all those waterfront property "owners" who exclude you.
Posted By: Mlcreek

Re: Insurance premiums - 05/10/12 02:56 PM

Jay,

Don't forget to mention to all of them about the "new" carriers in the state with little to no re-insurance to cover the losses. Of course we won't discuss FEMA; that by law has to total and refuse to rebuild "substanitally damaged homes", but they do, over and over and over!

Forrest
I-20
Posted By: waterbug_wpb

Re: Insurance premiums - 05/14/12 08:35 PM

Yeah, FEMA's not a good word in our little part of the world. Seems the flood map just got "revised" and we've all sunk down into flood zones. So FEMA gets a whole lot of premium for stuff that's never flooded before but is now "at risk of flooding"

Dang, that Al Gore dude must have been right and we're all sinking.... Or the Myan calander thing.
Posted By: pgp

Re: Insurance premiums - 05/14/12 08:49 PM

What I want to know is this. If I'm paying for water front property shouldn't I get to use it?

If the so called "owner" of waterfront property has publicly subsidized insurance, as part of the public shouldn't I have the same right to use the beach the "owner" does?
Posted By: Karl_Brogger

Re: Insurance premiums - 05/15/12 02:28 AM

Should you? No, Pete, you should not. You want water front property, go buy warrfront property.
Posted By: pgp

Re: Insurance premiums - 05/15/12 05:15 AM

Fine, you move down here and pay the insurance, the "owners" sure as hell don't.
Posted By: catman

Re: Insurance premiums - 05/15/12 12:05 PM

You are allowed on any beach. You just can't cross private property to get to it. People that live on say North Clearwater Beach only own a portion extending from the house to the water. The actual shoreline is public.

We can carry your argument further. Why should I subsidize homes in a wildfire prone ,tornado prone, or hurricane prone area.


Posted By: pgp

Re: Insurance premiums - 05/15/12 01:38 PM

Good question! Hurricanes are precisely the reason your insurance is being subsidized. If you're receiving a subsidy you should at least be required to provide an easement to the beach, which you agree I have a right to use.
Posted By: waterbug_wpb

Re: Insurance premiums - 05/15/12 04:08 PM

Originally Posted by pgp
If the so called "owner" of waterfront property has publicly subsidized insurance, as part of the public shouldn't I have the same right to use the beach the "owner" does?


Since these are typically their second or third vacation homes, I've asked them for the key so I could "keep an eye on it" while they're gone. So far, no takers frown
Posted By: waterbug_wpb

Re: Insurance premiums - 05/15/12 04:22 PM

Originally Posted by catman
Why should I subsidize homes in a wildfire prone ,tornado prone, or hurricane prone area.


A question I've asked time and time again...the answer seems to be "because we want to". But to require taxpayer subsidies to make the insurance "affordable" (to who's standard? The rich folk living there?) for those within 1000 ft of the water?

The reason the windpool and Citizens Ins. exist? No commercial carrier wants it at the rate the State says "should be". But now even the state admits the rates are "actuarily unsound" and need to be raised.

The reason we have insurance in the first place? We buy (or, rather, finance) things we can't afford to replace. So ultimately it's our fault... If you don't have a mortgage, you don't have to buy property coverage. Warren Buffet (and the lender) laughs all the way to the bank because we want stuff we can't afford.
Posted By: orphan

Re: Insurance premiums - 05/15/12 05:21 PM

It's not just the McManssions and it's not just within 1000 ft of the water. If you live in a county that is considered a coastal county the insurance companies treat everyone in that county the same. Even when you are 25 miles from the coast. I could only get hurricane coverage from the state.
Posted By: Anonymous

Re: Insurance premiums - 05/15/12 07:31 PM

Originally Posted by pgp
If you're receiving a subsidy you should at least be required to provide an easement to the beach, which you agree I have a right to use.

this is an argument for your senator or congressman ... but your statement that since you help subsidize.. you should have rights... is pie in the sky.
Posted By: ksurfer2

Re: Insurance premiums - 05/15/12 08:12 PM

What defines a "beach" that should have public access? A waterfront home on the ocean, Gulf of Mexico? What about homes on large bays, the great lakes, rivers, small lakes? Tim's house is on a lake, should his backyard be open to public access?
Posted By: waterbug_wpb

Re: Insurance premiums - 05/15/12 08:56 PM

Originally Posted by orphan
If you live in a county that is considered a coastal county the insurance companies treat everyone in that county the same. Even when you are 25 miles from the coast.


which makes it even more ridiculous. I live in a coastal county, but thankfully only the first 1000' to tidal water is in the wind pool. I believe Hillsborough & Monroe may be entirely within the wind pool, there are probably more...

and my opinion with regard to beachfront homes is that by artificially reducing the true insurance cost, you actually encourage construction in high-hazard zones. But those are the only places people want to live (well, except Timbo), so I guess the state is trying to make oceanfront living "affordable"?
Posted By: waterbug_wpb

Re: Insurance premiums - 05/15/12 09:02 PM

Originally Posted by ksurfer2
What defines a "beach" that should have public access?


(I won't mention the name for fear he may appear magically on this thread, but you all know the F16 guy I speak of crazy)

Isn't some form of public access to beaches in NED the law? Why not adopt some form of this guideline?
Posted By: Jake

Re: Insurance premiums - 05/15/12 09:23 PM

Originally Posted by waterbug_wpb
Originally Posted by orphan
If you live in a county that is considered a coastal county the insurance companies treat everyone in that county the same. Even when you are 25 miles from the coast.


which makes it even more ridiculous. I live in a coastal county, but thankfully only the first 1000' to tidal water is in the wind pool. I believe Hillsborough & Monroe may be entirely within the wind pool, there are probably more...

and my opinion with regard to beachfront homes is that by artificially reducing the true insurance cost, you actually encourage construction in high-hazard zones. But those are the only places people want to live (well, except Timbo), so I guess the state is trying to make oceanfront living "affordable"?


The state or the lobbies?
Posted By: pgp

Re: Insurance premiums - 05/15/12 10:31 PM

Originally Posted by ksurfer2
What defines a "beach" that should have public access? A waterfront home on the ocean, Gulf of Mexico? What about homes on large bays, the great lakes, rivers, small lakes? Tim's house is on a lake, should his backyard be open to public access?


Google is your friend, try "littoral zones", but I don't think there is just one definition.

Regarding Tim, hell yeah his back yard should be open! His tribe will soon be gone and he'll be an empty nester. He should convert his place to a beach club, B&B and offer FREE horse back rides with honky tonk on Saturday night. Kinda like Juana's Pagoda south. But I doubt he even has flood insurance. Water would have to be butt deep in Arcadia for him to see a change in the lake's level.
Posted By: Karl_Brogger

Re: Insurance premiums - 05/15/12 11:08 PM

Pete here's something to consider. Take your house, the chunk of dirt it sits on, and put it on the water. Same everything, but now one property line is on the water. I'd bet your property taxes would triple. Trust me, those folks are paying in more than their share
Posted By: pgp

Re: Insurance premiums - 05/15/12 11:41 PM

No they aren't! They never do, that's how they can afford to live Gulf front.
Posted By: Karl_Brogger

Re: Insurance premiums - 05/16/12 12:24 AM

Right..... Keep dreaming Pete.
Posted By: pgp

Re: Insurance premiums - 05/16/12 01:38 AM

My dream is a huge bulldozer wiping Sanibel and Estero Islands clean.
Posted By: catman

Re: Insurance premiums - 05/16/12 03:14 AM

If it makes you feel better. I live on the water so thanks for your support.
Posted By: pgp

Re: Insurance premiums - 05/16/12 10:45 AM

I don't live on the water so thanks for blocking public access and hogging a national treasure you don't own.

fwiw I think Lido Key got it right for the most part.
Posted By: pgp

Re: Insurance premiums - 05/16/12 11:07 AM

http://www.littoralsociety.org/about_us.aspx

It's a shame Florida isn't more active with this organizatin, we certainly need it.
Posted By: orphan

Re: Insurance premiums - 05/16/12 12:10 PM

Other things to consider. Two homes. One on a lake 8 feet above the 100 year high water mark was placed in a flood zone. One house 250 feet from the ocean 15 feet above sea level is not in a flood zone. Truth.
Pete
You can walk,play(but not land a sailboat beacuse of local regs) on any beach anywhere in the state. You just have to get there.

Posted By: pgp

Re: Insurance premiums - 05/16/12 12:19 PM

Tell me something I don't know.

Because of "local regs" there are beaches in the state where you can't take a picnic basket, cooler or even a bottle of water.
Posted By: Karl_Brogger

Re: Insurance premiums - 05/16/12 01:50 PM

Originally Posted by pgp
My dream is a huge bulldozer wiping Sanibel and Estero Islands clean.


That's a big dream. Only a small percentage of the population has the brains, work ethic, managerial skills, luck, and resources to buy up that much high dollar property to turn it into a utopian playground.
Posted By: Anonymous

Re: Insurance premiums - 05/16/12 02:10 PM

Originally Posted by pgp
No they aren't! They never do, that's how they can afford to live Gulf front.

You don't purchase a multi-million dollar home with your insurance premium savings
Posted By: waterbug_wpb

Re: Insurance premiums - 05/16/12 02:50 PM

I don't have a particular problem with people purchasing multi-million dollar waterfront homes. I don't even have a particular problem with that home restricting my access to a beach (as long as the municipality is smart enough to designate some reasonable amount of public access)

My problem comes when they whine they can't afford the insurance on said home and need artificially reduced rates. Really? You just paid $7M CASH for this house (your second VACATION HOME by the way) and you can't afford a $12,000 wind policy? You gotta have other policyholders subsidize 20% of that? Really?
Posted By: Karl_Brogger

Re: Insurance premiums - 05/16/12 04:05 PM

But, like I said, their property taxes probably level that off. It's financial ju-jitsu. I'd bet that $7m second vacation home coats them at least $30k a year in property taxes, whereas your normal house is a few thousand a year. It ends up in the kitty somewhere along the way.
Posted By: pgp

Re: Insurance premiums - 05/16/12 04:20 PM

Originally Posted by waterbug_wpb
I don't have a particular problem with people purchasing multi-million dollar waterfront homes. I don't even have a particular problem with that home restricting my access to a beach (as long as the municipality is smart enough to designate some reasonable amount of public access)

My problem comes when they whine they can't afford the insurance on said home and need artificially reduced rates. Really? You just paid $7M CASH for this house (your second VACATION HOME by the way) and you can't afford a $12,000 wind policy? You gotta have other policyholders subsidize 20% of that? Really?


Allstate has non-renewed us (for the second time). We should just throw them out for good, make Citizens the go to company, and pay policy holders a dividend.

If gubmint would really get behind public access (I give them a C+), it would go a long way to ending our housing crisis.

Posted By: orphan

Re: Insurance premiums - 05/16/12 05:28 PM

30K on 7mil. Way low. I pay 3K on a house that is taxable value of 175,000.
Allstate non renew twice, State farm once. Never had a claim.
Posted By: Karl_Brogger

Re: Insurance premiums - 05/16/12 06:05 PM

Well, at least.....

My house is taxed at a value of around $120k, I pay $830 per year for property taxes. wink
Posted By: waterbug_wpb

Re: Insurance premiums - 05/17/12 01:32 PM

Yes, the beachfront property pays a lot more in tax dollars (their tax rate, however, is lower), but they are also spent within their own town (municipality)borders only, so their tax dollars pay for landscaping on the roadways, the nice police cars (all 6 of them) and fire trucks (4-5 of them), their city managers 6 figure salary, and special parking areas for town residents only. Oh, they've got a boat storage rack for town residents only, too (sunfish/laser type stuff), but no mast-up storage and NO TRAILER PARKING (you have to use one of their boat launches at $5 per launch)

The rest of us working class "help" are delegated to the county gub-ment.

Maybe I don't get what tax dollars have to do with insurance subsidies, as they don't mix...?

And Citizens is currently so far upside down in terms of ability to pay losses, if it were the go-to carrier you'd be better off paying the loss yourself (which is what you will do eventually anyway)

I believe the meeting today is supposed to remove the 10% rate hike cap on Citizens, which (if approved) would hike premiums next year at least 30% in our area... joy


Oh, and looking at my TRIM notice, my tax rate is close to 13 mils... ouch
Posted By: pgp

Re: Insurance premiums - 05/17/12 01:47 PM

Now you're being inappropriate and obviously a troll.

Posted By: Ventucky Red

Re: Insurance premiums - 05/17/12 02:04 PM

Have all my policies with the same carrier..

Funny thing, the agent noted to me that my boat policy will only kick in when the boat is on the water... The auto and homeowners cover it when its not..
Posted By: waterbug_wpb

Re: Insurance premiums - 05/17/12 02:31 PM

Originally Posted by Ventucky Red
Have all my policies with the same carrier..


another interesting "quirk" here in my state...it is rare that a carrier would want the home AND auto/boat. Most auto/boat carriers want nothing to do with homeowner policy. The home carriers are undercapitalized and therefore can't take boat/auto in many cases... so you pretty much get screwed out of the "multipolicy discount" some offer.

There was a "race to the bottom" in auto coverage a short time ago, and plenty of SR-22 coverages out there which is why you should really make sure you've got good UM/UIM coverage. FL only requires $10,000/$20,000 liaiblity, which would just about cover a damaged bumper on many cars here.
Posted By: Ventucky Red

Re: Insurance premiums - 05/17/12 03:13 PM

Originally Posted by waterbug_wpb
Originally Posted by Ventucky Red
Have all my policies with the same carrier..


another interesting "quirk" here in my state...it is rare that a carrier would want the home AND auto/boat. Most auto/boat carriers want nothing to do with homeowner policy. The home carriers are undercapitalized and therefore can't take boat/auto in many cases... so you pretty much get screwed out of the "multipolicy discount" some offer.

There was a "race to the bottom" in auto coverage a short time ago, and plenty of SR-22 coverages out there which is why you should really make sure you've got good UM/UIM coverage. FL only requires $10,000/$20,000 liability, which would just about cover a damaged bumper on many cars here.


In the Peoples (soon to be bankrupt) Republic Kalifornia if you want to sell auto policies you need to do the other policies as well.. May be a good thing, maybe not!

I hear ya on the UN and under insured motorist, got the max on that and have an umbrella policy as well..

Found it odd that when your boat is hooked to the car the auto policy covers it, when sitting in the storage yard, the homeowners policy covers it, when it is on the water, the boat policy covers it... Needless to say, I have the max on all three..

Been sued before and I won, but it was not fun and it is a comfort to know I was covered should I have lost...
Posted By: Mlcreek

Re: Insurance premiums - 05/17/12 03:27 PM

Jay, this is true as to the 10/20 but for third party property damage only. There is no B/i requirement. So in other words the state is more concerned about the car then your life.

I hear ya on the UN and under insured motorist, got the max on that and have an umbrella policy as well..

Found it odd that when your boat is hooked to the car the auto policy covers it, when sitting in the storage yard, the homeowners policy covers it, when it is on the water, the boat policy covers it... Needless to say, I have the max on all three..

Been sued before and I won, but it was not fun and it is a comfort to know I was covered should I have lost...

Red, you better check those policies. Most umbrellas are third party liability. As to the boat, there again liability and not first party for the boat while attached to the car. The HO for the boat is named peril and for stated contents limits which is usually $1,000.00.

Forrest
I-20 USA 645
Posted By: Ventucky Red

Re: Insurance premiums - 05/17/12 05:00 PM

Originally Posted by Mlcreek

Red, you better check those policies. Most umbrellas are third party liability. As to the boat, there again liability and not first party for the boat while attached to the car. The HO for the boat is named peril and for stated contents limits which is usually $1,000.00.

Forrest
I-20 USA 645


Forrest...thanks. This is a little different from what I understood.. We have a full replacement cost policy with no depreciation clause for the boat and homeowners.. IE Sail gets stolen, they replace it new or send me a check for the replacement.

Few years back I let some nimrod helm my NACRA and they ran up on a sand bar tearing up a dagger board and splitting the hull. I got everything fixed and replaced after my $250 deductible was paid this came off my boat policy..

I'll pass this to my wife. She does the insurance as she works for the company were insured with..



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