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From: (no name) (no email)
Date: Tue Oct 31 2006 - 08:44:29 EST
Howdy All,
Before this insurance thread burns out I would like to pose some questions
to the group.
Our marina was purchased earlier this season and we recently got a copy of
the new contract. The New contract states that we must list the marina as an
"additional insured".... along with lots of other requirements that I have
never seen before. The marina's attorney stated that this was common
practice and we needed to comply or leave. So we contacted our insurance
company and they said that they would not comply and did not see it in our
best interest to do so. This is how I felt. I understand the ramifications
of insuring my kids on my vehicle. I am having difficulties with the concept
of insuring a "Company" on a personal marine insurance contract. Too much
can go wrong and for my insurance always to be at fault just does not sit
right with me. So we contacted the Maryland Insurance Commissioner. To my
surprise he was surprised the marine industry was doing this. He forwarded
the contract to one of the Staff Attorney Generals. She contacted us, to
pretty much state that there probably was nothing wrong with this clause and
the contract in general was fairly rock solid with a 100% bias in the
Marinas favor. Her suggestion was to seek a different marina. The
Commissioners concern is if the marinas are strong arming the Insurance
companies to comply, or the Insurance companies are getting kick backs from
the marinas. If either is the case, then they have broken the law. Neither
case really suits me. Trying to investigate or prove either of the 2 is not
even something I would consider... He did recommend I file a claim with
the States Attorney Generals Consumer Protection Agency as the wording
struck a nerve with him but the issue was out of his jurisdiction.
To me this all seems like a huge conflict of interest.
Example that has me going No Thanks....
The marina group that I am now a member, sunk a boat at their other marina.
The story goes something like this so I am told.
Customer "A" calls the boatel to have his boat put in the water in the
evening. Customer "A" arrives after closing to use his boat. Customer "A"
notices that his boat is still in the boatel. He calls the marina in the
next morning to give them heck for the mishap. The Marina then realizes the
boat sitting on the bottom is Customer "B's" because the marina put the
wrong boat in and forgot the drain plug. So they call Customer "B". They
charge him for Salvage, EPA fines, and tell him so sorry for the mistake but
you need to file with your insurance company. He says no, my boat is not
supposed to be anywhere near the water. So Customer "B" is in the process
of suing the marina.... Granted this is a 3rd party story, but I worked at
a Marina during my college days and have seen similar. Anyway, experience
has probably given me a negative view of marinas. Life is too short to deal
with irritations like this.
I hate to think having to insure the Marina is common place everywhere....
My question to the list is, "Is this "additional insured" as common as the
marina's attorney stated?"
I have contacted 8 Marinas so far and only 2 have it in the contract and
both allow it to be waived since so many customers have complained.
And the big question.... If it is common, are you comfortable having them
being additionally insured?
I have polled several members at my marina and am surprised this is of
little concern to anyone there. So far I have gotten; This marina is the
only public marina on the north shore of the Magothy so location wins for
most of the members there.
Any input is appreciated.
If this has been discussed in the past I apologize. I looked but did not
find anything .. if so just kindly point me in the right direction.
Thanks
David Parks
Red Skies at Night
31 Tiara Sportfish
(mailto:)
Hi David
I think your mis understanding the situation naming the marina as additional
insured does not mean you insure the marina. Right now the "insured" on your
policy is you or you and the bank that holds the note. If you ad the marina
it will be ATIMA (as there interests may appear) Which means that if your
boat catches fire and destroys part of the marina the insurance company will be
obligated to pay the marina directly for the loss. Lots of marinas do this I
don't really like it either and a case could be made that it's not necessary.
Since any loss to the marina would be covered by your liability your company
would be obligated to pay them anyway.
Brian Palmetto FL
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