Total Dollar insurance
 

Has anyone here with insurance from Sy Goldberg of total Dollar received a call about the original underwriters closing up shop? I had a call from Total Dollar and the new underwriters they want to send me to requires a 6 month lay up period and offers less coverage for more money. I live in Georgia and we can boat easily for 9 months. That's crap! I have never even filled a claim. The girl that called said the rates are going up because of 9 11. I ask you, how many boats sank on that day? This is the second year in a row my boat insurance company has folded and my rates continue to climb.

I'm insured with them but haven't received a call or any notification yet.....

The girl I spoke with said they're going down the list of clients by date of policy renewal. Mine is due Feb 1st. That maybe why you have not heard anything yet. I hope they are not trying to pull the wool over my eyes.

My boats already layed up six months out of the year anyway but a rate increase will certainly piss me off !

I'll let you know if I hear from them...

Sy , you out there ???

Thanks Wes. It just fries me to think they want to cut my insurance coverage in half, offer less coverage, and still cost me more. Legalized extortion...that's what this is!

I'm with Total Dollar as well, the underwriter is ACE USA (I think??) Haven't heard anything as of yet, my anniversary with them is late May.

How bout it Sy?????

I'm a customer. I"ve never made any claim with any carrier ever.
I got a letter from the carrier (American Yacht?) informing me of the cancellation. Letter said I should have heard from my broker (Total Dollar) already.

Last week I got a call from Total Dollar. They're sending me an application for a policy that requires I layup the boat for 4 months (I currently have no layup requirement). Something about the new insurer not "giving back layup credits".

New policy is going to cost me the same as I'm paying now (but with 4 months layup on new policy it translates into a 33% premium increase). Add that coverage is apparently less and deductibles are higher , and it's a no-win sitch. I was told that a couple of other aspects are better.

We'll wait and see.

Earlier this year same thing happened with my homeowners insurance. As far as the current insurance crisis (it is a crisis) being completely related to 9/11 -- that's only partly true.

Bottom line is that the premiums we all pay, which are invested by the insurance companies, are not seeing the same investment returns necessary to cover expected claim payouts...plus profit margin.

Of course, frivolous/fraudulent insurance claims across the board don't do any of us any good.

Soon, we'll be lucky if any insurance is affordable for anything.

dh

Time to start shopping around so you don't get caught in the vacume...

I just converted over to Progressive and actually saved a few bucks for the year...;)

[email protected] can get you insured for way less. American National Insurance.

I did not get a call, instead I called them to get an endorsement to take the boat to Florida and found out the hard way. I did get the endorsement, but only to take the boat for service and warranty work. They will not allow me to operate it there.

At this time I really do not know where we stand with this. I have found Sy to have the best coverage at the best rate, but I am going to shop around and see what is out there.

Let me know if you guys hear anything.

Mark

I agree about Sy. He did hook me up and was very competitively priced. Unfortunately, it seems the rules of the game may have changed again.

I'm going to have to call around. If there are other sources any of you besides the one above -- I'd appreciate it.

dh

hey dock! when arre we gonna get to see ya?? arent ya coming thru this weekend??

Russ,

Our plans have changed slightly.

It is snowing like crazy here. We were going to leave tomorrow but that is out.

The plan now is to drive down to Savanna Sunday and go into Jacksonville Monday morning.

How about dinner Sunday night somewhere at exit #94?

I will call you.

Doc

HOOTERS!!!:) :)

Call me and we can figure a place out. depending on what time ya get in. i am at 912-313-8686

I'm with Cy, but I renew sometime in early summer. I was with PMI before so I may have to start shopping. A savy insurance rep could clean up on this board.

Sy will be unable to respond as he is on vacation for the week. I am the manager at Total Dollar and we are presently replacing almost all business with CNA through ACE USA. ACE USA is the largest insurer of boats in the world and offers the most comprehensive policy for boats in the performance industry.

As for the layup issue, CNA was trying to be cutting edge and offering 12 months navigation with a layup credit for the geographical area your boat was located in. Their thought process with this was to eliminate phone calls and paperwork at the beginning and ends of the boating season to extend navigation periods. No other marine insurance carrier in the performance market offered this option so unfortunately it is back to the traditional lay up deals where if you are getting credit for it, you must take it.

We still offer Protection and Indemnity Insurance which is the broadest form of liability insurance for boats. Most of your homeowners and auto insurers offer Watercraft Liability which only covers bodily injury and property damage but does not cover you for the admiralty laws you may need to address for owning and operating your boat.

We are presently developing additional exclusive in house programs so that we may adapt and change with the growth of the performance boat market. Further information will be made available as we get further details. Please feel free to call the main office if you have any concerns, but you will be seeing renewal proposals which will still be both competitive in price and comprehensive in coverage approximately 30-45 days prior to your expiration.

Arthur Buhr
Marine Manager
Total Dollar