Author Topic: Boat insurance policy  (Read 294 times)

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Offline Hyperacme

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Boat insurance policy
« on: March 20, 2018, 01:11:32 PM »
Got this from Tim C.
Shawn, insurance is under Carols name, should I be concerned ?
Do I need some updates to coverage ?

Before you hit the water this summer, you may want to take a closer look at your boat insurance policy. Here's a portion of Courtney Godfrey's emotional plea at the Capitol on Monday...
 
https://www.facebook.com/KARE11/videos/10160355602730457/
Gregg
'76 CV16

Online 75starflight

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Re: Boat insurance policy
« Reply #1 on: March 20, 2018, 02:51:48 PM »
That is very interesting! Maybe I need to check with our agent to make sure we are covered!
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Offline dorelse

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Re: Boat insurance policy
« Reply #2 on: March 20, 2018, 03:17:18 PM »

Offline fireman24mn

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Re: Boat insurance policy
« Reply #3 on: March 20, 2018, 08:19:19 PM »
The video dosen't show or really tell anything. It don't tell about the policy or what coverage they had purchased or didn't purchase. I am sure everyone reads their policies right? Buy the way MN state law says insurance contracts have to be written at an 8th grade reading level.

I dont know all the other companies or what company they used. I can only speak for the policies I sell.

A boat policy in MN does not come standard with Medical payment coverage. It is an optional coverage. I always put it on the quotes and policies unless someone does not want it. I have looked and everyone on here that I have sold a policy to has it on their policy. It may not be on at this moment because they change coverages when the boat is laid up in the winter.

On auto policies in MN you have medical coverage under personal injury protection (PIP). This is only in some states. IA and WI do not have PIP. They have Medical payments for auto policies. IA requires some and I cant remember if WI does(not licensed for WI)

As far as the umbrella covering something like this. Your umbrella will only cover what you tell it to. So if you don't talk to your agent and let them know, 1. you own a boat or 2. that you want coverage for something like that it won't. The only way this could potentially be covered by your Umbrella policy is if you have the uninsured/ underinsured endorsed on your umbrella. Very few people do!

Last I will add that your policy for your home, atv, jetski, motorcycle, etc most likely also do not cover medical expenses, unless it is endorsed and added to the policy.

I hope this explains things better. Let me know if anyone else has any questions or would like an actual agent to look at their policies instead of the 800 number so many people buy from now days. The whole name your price. Do you think cheap equals good coverage?
I think this has become an addiction.


1977 CV-23 I/O Being restored
1976 CV-23 Jet
1985 Pearson MotorYacht 43ft

Offline dorelse

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Re: Boat insurance policy
« Reply #4 on: March 20, 2018, 08:49:55 PM »
A boat policy in MN does not come standard with Medical payment coverage. It is an optional coverage. I always put it on the quotes and policies unless someone does not want it. I have looked and everyone on here that I have sold a policy to has it on their policy. It may not be on at this moment because they change coverages when the boat is laid up in the winter.

Thanks for taking care of us Shawn!

Offline fireman24mn

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Re: Boat insurance policy
« Reply #5 on: March 20, 2018, 09:03:44 PM »
Also one other coverage that is optional on many policies is water sports liability. Meaning skiing, wakeboard, tubes etc.
I think this has become an addiction.


1977 CV-23 I/O Being restored
1976 CV-23 Jet
1985 Pearson MotorYacht 43ft

Offline carlsoncvx18

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Re: Boat insurance policy
« Reply #6 on: March 20, 2018, 09:23:12 PM »
Thanks for the info looked at my policy have a little medical coverage.

1987 CVX18
1977 GT150 110hp Johnson
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Offline fireman24mn

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Re: Boat insurance policy
« Reply #7 on: March 21, 2018, 07:30:36 AM »
I usually put 1 or 2 thousand for med coverage. Best way to do it would be to find out what your health ins deductible is and set your med pay for that amount, to cover out of pocket expenses not covered by medical ins. Keep in mind some health plans have a maximum payout per year.
I think this has become an addiction.


1977 CV-23 I/O Being restored
1976 CV-23 Jet
1985 Pearson MotorYacht 43ft

Offline Hyperacme

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Re: Boat insurance policy
« Reply #8 on: March 21, 2018, 08:40:51 AM »
OK ... I'm good ... My health care ins. thru work would cover me.
Thanks Shawn.
Gregg
'76 CV16