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Liability Only Cat Insurance

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Old 09-27-2006, 01:42 PM
  #11
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Default Re: Liability Only Cat Insurance

How about lowering the stated value of the boat to almost nothing. I believe that will accomplish what you are asking. Talk to your Markel agent for cat ins.
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Old 09-27-2006, 02:30 PM
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Default Re: Liability Only Cat Insurance

The trick with lowering the "stated" value, is that the insurance companies like Markel may require a survey/appraisal. That value is what the company will use....period.
Anyway, that's what I was told after they were asked to lower the stated value on my Jag.
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Old 09-27-2006, 02:32 PM
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Default Re: Liability Only Cat Insurance

I write alot of policies covering the boat for Storage and Transit only and Liability Coverage while the boat is in use on the water. Give me a call.

Ken Collier
Elton Porter Marine Insurance
800 759-2628 Ext. 200
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Old 09-27-2006, 02:44 PM
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Default Re: Liability Only Cat Insurance

I'd like to add that Ken @ Elton Porter has been great to work with and I trust him.
And no,,,, he won't give me a discount for posting this.
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Old 09-27-2006, 03:37 PM
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Default Re: Liability Only Cat Insurance

Unfortunately, I'll bet most of the premium thats charged is for "liability".....
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Old 09-27-2006, 03:41 PM
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Default Re: Liability Only Cat Insurance

My cat policy the liability is only 22% of the total premium. I just got my renewal today.
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Old 09-27-2006, 04:42 PM
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Default Re: Liability Only Cat Insurance

Brad-
Mine too, but I believe if you buy liability-only, it's about 65% of what you pay for full coverage.
Ken can tell you.
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Old 09-27-2006, 04:46 PM
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Default Re: Liability Only Cat Insurance

They question would be, why ONLY have liability and not full coverage...

Chris Rock said it right. It shouldn't be called insurance, it should be called "just in case".





Just in case SH!T happens!
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Old 09-27-2006, 05:53 PM
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Default Re: Liability Only Cat Insurance

liability.....then a low totaled out value.........so if your boat is appraised at 150,000. total declared value 50,000..........try it......if you do more then 50,000. damage you most likely dont want it anymore...........
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