Striper Talk Striped Bass Fishing, Surfcasting, Boating - View Single Post

Mr. Sandman · 03-12-2003, 08:05 AM

Woods hole? Having been thru there a few times in my life, I can't see why that is any worse then several other places...Every policy is different read the fine print.

I think too many people expect insurance policies to cover every dent and ding life brings them. IMO a prop loss you will probably eat in the deductible anyway..a lower unit or a major wipe out your wet appendages and you should be covered...however do that a couple times and you can expect to really pay for it in increased premiums if you can still get coverage.

Again, IMO (everyone has different views on this) the most important insurance you can own is Liability. I like plenty of it too. Imagine if your boat is stolen, and some ahole does serious property damage or hurts someone else....guess how gets sued? The costs could easily wipe out everything you own and everything you have worked for your entire life. There are so many scenarios that cannot be foreseen you have to protect your self against them. We live in a very litigious society and million dollar + awards are handed out every day for the littlest of things. I bet if you look at your boat/car insurance it caps out at 300 or 500K. Don't worry about a prop loss...that is the cost of boating...accidents do happen learn to navigate better to minimize them. BUT its the actions of others you can't control, you have to protect whatever assets you have, homes, savings, ect.
Get your boat $500 (give or take) insurance...but also look into getting an umbrella policy that covers anything beyond what you have on your home, car, boat, ect. It is pretty cheap and you can get a ton of coverage. 200 or so will get you 1 mil of coverage and 3-400 will get you 2 mil.
I can tell you now...that if there is a death involved and your boat, car or property is also involved...your looking at millions of potential loss....far beyond the 300K in you policy. They will take everything you friggin own and anything you will ever own, forgetabout the prop replacement, think about protecting yourself from the unthinkable.

I hate paying taxes and insurance payments too but some things are unavoidable, I think of insurance as catastrophic coverage...not replacements for little things.

One more time…this is my opinion, you should talk to your insurance expert. If you don’t have one, find one, they do know more about this then we do. There is more to life then saving 50 bucks on a policy via a mail order company.

03-12-2003, 08:05 AM	#22
Mr. Sandman Registered User iTrader: (0) Join Date: Sep 2001 Posts: 7,649	Woods hole? Having been thru there a few times in my life, I can't see why that is any worse then several other places...Every policy is different read the fine print. I think too many people expect insurance policies to cover every dent and ding life brings them. IMO a prop loss you will probably eat in the deductible anyway..a lower unit or a major wipe out your wet appendages and you should be covered...however do that a couple times and you can expect to really pay for it in increased premiums if you can still get coverage. Again, IMO (everyone has different views on this) the most important insurance you can own is Liability. I like plenty of it too. Imagine if your boat is stolen, and some ahole does serious property damage or hurts someone else....guess how gets sued? The costs could easily wipe out everything you own and everything you have worked for your entire life. There are so many scenarios that cannot be foreseen you have to protect your self against them. We live in a very litigious society and million dollar + awards are handed out every day for the littlest of things. I bet if you look at your boat/car insurance it caps out at 300 or 500K. Don't worry about a prop loss...that is the cost of boating...accidents do happen learn to navigate better to minimize them. BUT its the actions of others you can't control, you have to protect whatever assets you have, homes, savings, ect. Get your boat $500 (give or take) insurance...but also look into getting an umbrella policy that covers anything beyond what you have on your home, car, boat, ect. It is pretty cheap and you can get a ton of coverage. 200 or so will get you 1 mil of coverage and 3-400 will get you 2 mil. I can tell you now...that if there is a death involved and your boat, car or property is also involved...your looking at millions of potential loss....far beyond the 300K in you policy. They will take everything you friggin own and anything you will ever own, forgetabout the prop replacement, think about protecting yourself from the unthinkable. I hate paying taxes and insurance payments too but some things are unavoidable, I think of insurance as catastrophic coverage...not replacements for little things. One more time…this is my opinion, you should talk to your insurance expert. If you don’t have one, find one, they do know more about this then we do. There is more to life then saving 50 bucks on a policy via a mail order company.