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Hypothetical Accident Liability Question

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Old 04-29-2008, 12:35 PM
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I think Baddogz is pi$$ed because he came in here asking a question but the thread was hijacked by people trying to act the part of his dad. If the name of the thread was "Is this a good financial decision" fine, give him all the advice he wants. Sounds like he has his mind made up.

Baddagz, enjoy the boat and post some pics of all the beautiful babies sunbathing on the back when you finally get her in the water
Thanks BT. There will be a pics thread, I promise.
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Old 04-29-2008, 01:03 PM
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One of my best friends is a State Farm agent. He laughed out loud when I asked him about coverage for a Cigarette. He said he didn't need to hear anymore, Cigarette was on their "no" list.
\

I have my 2008 /2 x 700 Cig insured thru State Farm; I'm the only insured driver and had to forward my Tres Martin certificate, no other restrictions. On top of the base policy is a $5mm umbrella. They know exactly what they have insured, it is all listed on the policy certificate, including the HP and it wasn't any big deal at all.
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Old 04-29-2008, 01:09 PM
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Quick story-

I have a very good friend. In college he decided to go into the student apartment rental business when he graduated. He couldn't believe how expensive rentals were close to his college. Upon graduation, he agreed to help his brother and come to work in his elecrical contracting business in exchange for him co-signing on a couple properties. All of his classmates took corporate jobs and he went off to string wire. They played after 5pm and all weekend while he rehabbed houses.

Fast forward. One became two, became four became 185 buildings today, 25 years later. All through sweat and bootstrap. 15 years ago, while most of the rest of us were hitting stride on earnings, he was still living on the thin side. Driving used cars, modest vacations, etc.

Today he owns more than $15 million in real estate and sees about a 10% cash flow from them. Works a few hours a day several months a year. Goes where he wants, buys what he wants.

Do you want to be doing in 15 years what you're doing today?
Congrats to him....I know several people, including my father, who worked their arses off for years all the while saving for the promise land of retirement only to see it all evaporate due to a fatal accident or illness. I say be smart and have some balance in your life which IMHO includes smelling the roses along the way.
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Old 04-29-2008, 05:53 PM
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Baddogz - I'll take it what I said, or what was implied that I said by others, is what has you a bit heated.

If you recall, down in the Pantera forum I was right there to congratulate you on the purchase, and offer a suggestion on the swim step as you requested.
I must have struck a bit of a nerve with my advice. Maybe I'm not the first that has given this unsolicited advice, and you have decided you don't want to hear it. You're going to, or already have found a way to get yourself into this boat.
That's fine, as you said, it's your life, and it's your money do with it as you please, and I wish you the best with the boat - and with life.
I'll politely now just STFU as you requested.

Sidebar - some of the best advice I've ever received was the unsolicited advice, I didn't always like to hear it, and didn't always heed it. And I've learned from those experiences.
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Old 04-29-2008, 05:58 PM
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Bouy....you've been called "OLD"!!!
I've been called much worse.
"Wise for my years" would have sounded like a compliment; it wouldn't have fit the context here.
"If I knew then..." is another way of looking at it, but "learned it the phucking hard way" is probably a much better explanation.
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Old 04-29-2008, 06:34 PM
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Baddogz - I'll take it what I said, or what was implied that I said by others, is what has you a bit heated.

If you recall, down in the Pantera forum I was right there to congratulate you on the purchase, and offer a suggestion on the swim step as you requested.
I must have struck a bit of a nerve with my advice. Maybe I'm not the first that has given this unsolicited advice, and you have decided you don't want to hear it. You're going to, or already have found a way to get yourself into this boat.
That's fine, as you said, it's your life, and it's your money do with it as you please, and I wish you the best with the boat - and with life.
I'll politely now just STFU as you requested.

Sidebar - some of the best advice I've ever received was the unsolicited advice, I didn't always like to hear it, and didn't always heed it. And I've learned from those experiences.

Thanks for the reply. It was the 'Man' stuff that got me fired up. I don't hold any grudges, and I understand where you were coming from with the advice. I think reading your posts again, you can probably understand why I got pissed.

BTW, I appreciate all your help in the Pantera section.
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Old 04-29-2008, 06:47 PM
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Thanks for the reply. It was the 'Man' stuff that got me fired up. I don't hold any grudges, and I understand where you were coming from with the advice. I think reading your posts again, you can probably understand why I got pissed.

BTW, I appreciate all your help in the Pantera section.
I can see where the "Man" thing would bother you. It would bother me too.
I think someone else read a little too deep into my post. And I replied with a quick thought.
Maybe it comes down to how I was raised, and the entire goal was to first get myself self-sufficient, and then get my toy's. Not saying you're not capable of being self sufficient, maybe it was just my first goal in adult life to have my own place.
And then bring on the toys.
Sincerely, good luck with the boat. If I can offer you any other suggestions (on the boat) feel free to ask the questions.
I'll keep an eye out for ya in Pantera section.
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Old 04-29-2008, 06:51 PM
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Originally Posted by omerta one View Post
\

I have my 2008 /2 x 700 Cig insured thru State Farm; I'm the only insured driver and had to forward my Tres Martin certificate, no other restrictions. On top of the base policy is a $5mm umbrella. They know exactly what they have insured, it is all listed on the policy certificate, including the HP and it wasn't any big deal at all.
I have had all my boats with them too, including the F4. All under the umbrella too. State Farm has different underwriting rules in different parts of the country. Each zone or geographic area has the freedom to set their own stance on what they want to do with boats. One rule they seem consistent in is Cats, seems they don't want to get into insuring Cats anywhere. LOTO happens to be one geographic area that will insure your Cig, or my F4, and other performance boats (except cats). But I could never get it underwritten in central Illinois - where they have length and HP restrictions more severe than LOTO.

I've worked at SF for 30 years. For that reason I tend to stay out of the threads that talk about insurance companies.
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Old 04-30-2008, 12:34 PM
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I can see where the "Man" thing would bother you. It would bother me too.
I think someone else read a little too deep into my post. And I replied with a quick thought.
Maybe it comes down to how I was raised, and the entire goal was to first get myself self-sufficient, and then get my toy's. Not saying you're not capable of being self sufficient, maybe it was just my first goal in adult life to have my own place.
And then bring on the toys.
Sincerely, good luck with the boat. If I can offer you any other suggestions (on the boat) feel free to ask the questions.
I'll keep an eye out for ya in Pantera section.
Thanks Bouy, the first time I'll be out on it is sunday for the sea trial. I'm sure it'll blow my mind.
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