Liability
#11
Offshoreonly Advertiser
Offshoreonly Advertiser
Join Date: Jan 2001
Location: spring valley,ny usa
Posts: 2,063
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12 Posts
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.
#13
It turns out I dont have a high performance boat
#15
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.
#16
Registered
Thread Starter
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?
#18
Gold Member
Gold Member
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.
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.
#19
Platinum Member
Platinum Member
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...
#20
Charter Member #232
Charter Member
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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