Just a friendly reminder.
 

As you all put your boats away for the Winter, or have offseason work done, just a reminder.


Check your insurance policy.

Here is a paste of my problem from 2003.



Many of you are aware of my experiences with the dealer here in Atl. that took a bunch of deposits and made a lot of other illegal transactions, then fled the country.

In addition to a large sum of cash I gave on deposit for a boat, he was also brokering my Fountain. Last Nov. he apparently sold my Fountain while claiming to me he had it at another location a good bit away from me.

After all the fraud and embezzlement surfaced I discovered my boat had been sold, converted to cash, and was gone with him out of country.I took out warrants on all activities that affected me and joined forces with other victims. Our lawyer suggested I file a claim with STATE FARM for my loss.

I filed, and after 60 day investigation they agreed that I was a theft victim and that my policy was in effect at the time of the sale/theft.

Now for the BULL%^IT. THey then informed me that STATE FARM policies specifically EXCLUDE any adverse consequences of leaving my boat with anyone else for ANY REASON. They are not liable under article I in the policy that if the boat is entrusted to another person, even for service, and the boat is damaged, stolen, etc. it is MY(or YOURS) responsibility.

Now, in addition to my CASH, I am out the entire value of my boat(I owned it). I AM PISSED!!

Sorry to be so long, but I hope to help anyone else that may find themselves in this position. I NEVER want to hear about someone else that got screwed this way.

Any feedback or ideas are greatly appreciated, and I hope I've given you all some insight into what you can expect if your insurance company is the same way.

I checked mine last week.

Sounds like it would be easier for them to just state WHEN it would be covered. Surely that would take all of 1 line. You certainly got a good screwing. Don't know how you guys do it without going postal.

Thanks...I'm going to contact mine today.

I wonder what the limitations are for "entrusted."
Does that include a marina? Storage Facility? Because that would be bullsht.....got to check my policy. Thanks for the reminder.