Next message: Randy Pickelmann: "T&T: BoatUS Insurance NOT"
In a message dated 10/24/2006 12:20:08 A.M. Central Standard Time,
writes:
We have an old 1939 trawler that has
been insured with Boat US for 6 years
This is an excellent example of the inconsistency of insurance companies.
When I was shopping for insurance for KARUNA, a 1968 vintage wooden ketch with
an impeccable survey and never a claim, in 1999, ALL of the domestic
companies (including Boat/US) declined to quote. The stated reasons were either age
or wood or both. I easily got a reasonable quote from a european company
through Offshore Risk Management of Marathon, FL. Over the last few years, the
carrier has changed several times, but has always been a well respected name
(ING, Lloyds, TL Dallas). Last year (June 2006), the premium went up by 50% but
was not a problem with renewal. The boat is berthed on a protected river
north of New Orleans and 30 miles from Katrina's path (small damage but no
claim).
ORM is sometimes funky to deal with but always seems to get everything right
eventually. No relationship other than a customer. Obviously I have no
experience with claims service.
I'm on the fence right now as to self-insuring but I think I'll probably go
that way, maintaining liability, mostly for marina requirements..
My point is that things change on the whim of the company and, often, on the
whim of the underwriter or agent. Like airfares, keep asking and you'll
probably get several different answers to the same questions.
Bill
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