View Poll Results: Is a 10% charge fair to cancel your insurance if you sell your boat?
YES
7
6.86%
NO
95
93.14%
Voters: 102. You may not vote on this poll
POLL: Insurance (problem) ....everybody please read
#1
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Thread Starter
POLL: Insurance (problem) ....everybody please read
I just sold my Powerplay and I cancelled my insurance for the boat today. The insurance co I have (one of the big names) is charging me 10% because I am not insuring another boat right away---I have to decide on what to buy next.
I really think this is unfair and B.S., but I don't know if this is typical or not. I feel that if they charge me the 10%, they won't get my business again.
I really think this is unfair and B.S., but I don't know if this is typical or not. I feel that if they charge me the 10%, they won't get my business again.
Last edited by Semper Fi; 01-19-2006 at 02:57 PM.
#4
Charter Member
Charter Member
Re: POLL: Insurance (problem) ....everybody please read
SF,
Congrats on selling your boat! And you are right, that is BS!! I'm only insuring my Velocity, (Which will be for sale here shortly) @ 3 months @ a time.
Who is the insurance co?
Dean
Congrats on selling your boat! And you are right, that is BS!! I'm only insuring my Velocity, (Which will be for sale here shortly) @ 3 months @ a time.
Who is the insurance co?
Dean
#5
Registered
Re: POLL: Insurance (problem) ....everybody please read
Was it written on your contract?
The answer is there...
Some small characters can become a pain in the @#$%...
The answer is there...
Some small characters can become a pain in the @#$%...
#6
VIP Member
VIP Member
Re: POLL: Insurance (problem) ....everybody please read
Years ago, I sold a boat and cancelled my policy from Allstate. I was about 5 months into the policy, but that 5 months was the winter. I think that I got about 12% of the $$ back!!! What are you going to do??? I guess if it wasn't structured like that, everyone would cancell after 6 months of boating every year and get 1/2 of their money back!!
__________________
Happily retired and living in Heavens waiting room.
Happily retired and living in Heavens waiting room.
#9
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Thread Starter
Re: POLL: Insurance (problem) ....everybody please read
UPDATE:
The 10% is a fee charged on what the balance is that they owe me. (returned premium) I guess it's not too bad, but still another speedbump!!
I am paying alot for insurance though. The boat was a 1997 PP with HP500's. No layup in the policy, $85K agreed value+ value of trailer, no claims..ever, and I was paying $2,500 a year. I think that was high.
The 10% is a fee charged on what the balance is that they owe me. (returned premium) I guess it's not too bad, but still another speedbump!!
I am paying alot for insurance though. The boat was a 1997 PP with HP500's. No layup in the policy, $85K agreed value+ value of trailer, no claims..ever, and I was paying $2,500 a year. I think that was high.
#10
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Re: POLL: Insurance (problem) ....everybody please read
Almost like BMW charging a fee to turn in the vehicle once the lease is over.
Just a final screw as a way to say goodbye. I guess they don't get much repeat business.
Congrats on selling your boat. Where did it find a new home?
Just a final screw as a way to say goodbye. I guess they don't get much repeat business.
Congrats on selling your boat. Where did it find a new home?