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Old 04-25-2010, 10:40 AM
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Default Umbrella Liability Coverage

Just make sure that your excess liability coverage extends to your high performance boat.I suggest that you get a letter from your umbrella carrier indicating that they are aware of the type of boat and the speed capabilities of the boat they are covering.
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Old 04-25-2010, 10:43 AM
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Sy-
I agree: difficult to find one that will offer an umbrella if you own a fast boat.
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Old 04-25-2010, 11:22 AM
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Originally Posted by sy goldberg View Post
Just make sure that your excess liability coverage extends to your high performance boat.I suggest that you get a letter from your umbrella carrier indicating that they are aware of the type of boat and the speed capabilities of the boat they are covering.
It turns out I dont have a high performance boat
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Old 04-25-2010, 12:22 PM
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Originally Posted by sy goldberg View Post
Just make sure that your excess liability coverage extends to your high performance boat.I suggest that you get a letter from your umbrella carrier indicating that they are aware of the type of boat and the speed capabilities of the boat they are covering.
I agree as well. My 5M umbrella does not cover my performance boats. People need to be aware of their coverages.
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Old 04-25-2010, 12:52 PM
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I agree as well. My 5M umbrella does not cover my performance boats. People need to be aware of their coverages.
I have lots of things besides operating my boat that I'm involved in that I have coverage for.
Sitting on boards and being inviolved in many group efforts where others could get me involved come to mind.

And then there are raffles.

My umbrella came with good advice and the company carrying it knows what I'm involved in , including current events.
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Old 04-25-2010, 02:58 PM
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what about boat partnerships? Say my old man and i purchased a boat, put it in my name, insured it in both of our names. Then say he was out and had an accident, i was not involved, or in the boat... i would still be liable right?
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Old 04-25-2010, 03:55 PM
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OffshoreDrillin got the right idea......
1.Umbrella Policy ---- Big one!
2. Watch out for your guests --- they might cost you bundle!
3.Boat Safe!!!!

Jim
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Old 04-25-2010, 04:42 PM
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My umbrella covers my HP boat...but most importantly please remember that those high liablility limits apply to a person you injure...it doesn't help if someone causes injury to you.

Please make sure you have commensurat uninsrued or underinsured coverage. I had a buddy who was invlolved in a serious car accidient, he almost lost his foot and has been permanenetly injured. The person who hit him had insurance but only the minimum of $25,000 and no real net worth...if he had not carried increased underinsured limits he would have been SOL. Chances are the person who hits you does not have the ability to carry excess limits.
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Old 04-25-2010, 05:04 PM
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I've been trying for a couple of years to get and Umbrella policy and because of the type of boat I have I haven't been able to find anyone who would write one.... Who will write an Umbrella policy that has decent limits....my Cat's insured through American Reliable for the type of HP and Speed but would like to have additional coverage...
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Old 04-25-2010, 11:25 PM
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My insurance company reviews my umbrella policy with me every year. They ask me a large number of questions about my boating habits and then decide. So far I have been lucky that they keep me on.
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