WakezoneINS

Summer is rapidly leaving us and it’s becoming that time of the year again when you have to begin winterizing your boats (for some of you). This winter I encourage all of you to shop your insurance rates when you have some down time. I have developed some guidelines below that will hopefully help you through the dreaded process of shopping insurance. The way I look at it, it doesn't hurt anything to shop your rate. Worst thing that can happen is that you find out that you have a great rate where you are and nothing changes. On the flip side, you can find out that you can save hundreds or even thousands off your rate. Either way, it's a win win.

1. PREPARE FIRST. Gather your current policy documents. Know the following items:

• Current Carrier
• Insured Value
• Liability Limits
• Current Deductible
• Know the type of valuation you have currently
• Current Annual Premium (YES, YOU SHOULD disclose this)
  more in a few minutes on this.

2. CALL AROUND. Let me first say that when you speak to a BROKER (not an insurance company directly) you should ask, “What carriers are you going to get rates from for me?” This helps you avoid having two brokers shopping the same carrier. With some carriers, they will only release a quote to one broker. Keep a list of the brokers and the carriers they are shopping for you.

3. WHEN TALKING WITH YOUR AGENT REMEMBER:

• FULL DISCLOSURE is key and will only help the broker serve your best interests and help them insure you properly. DON’T lie, even if it is a “White Lie”

• Your Motor Vehicle record greatly impacts the ability to quote you or provide you with competitive rates. Disclose all accidents/tickets/violations in the last 5 years (this includes prior claims on your boat insurance too).

• Make sure that the insurance agent you are talking with is licensed to do business in your home state. This is a legal requirement for insurance agents.

• BE HONEST. Tell them you are shopping your rate. It is OK to disclose what you are currently paying, this helps the agent qualify you for programs and return a quote faster. The reason I bring this up is because I’ve gotten calls for a quote on someone’s 110mph CAT. I would do all the paperwork and given them a really good rate for their CAT for them to tell me that their boat is insured with their home policy for like $700 a year. Had I known from day 1, I would have saved us both the time from the get go.

4. When you get your quotes, review them and ASK QUESTIONS about how it compares to your existing coverage.

5. Find out the major exclusions of the policy. This will help you avoid surprises down the road. Not all policies are created equal.

6. RESPOND back to the agent. We like and appreciate feedback.



For those of you who would like for my agency to shop your insurance for you, I would be honored to do so. I can proudly say that we can insure 99% of all boats out there, with very few exceptions. We have been fortunate enough to be affiliated DIRECTLY with the following carriers:

• American Reliable Insurance (DIRECT to underwriting unit)
• American Modern Insurance (DIRECT to underwriting unit)
• Markel (Indirect)
• Progressive Insurance Company (DIRECT to underwriting unit)
• Pacific Specialty (DIRECT to underwriting unit)
• Ski Safe (AXIS) (DIRECT to underwriting unit)
• ACE INAMAR
• ZURICH
• FOREMOST
• SAFECO
• Lloyd's of London
• TRAVELERS

My agency is licensed in all states except (as of today 09-10-08): CO, HI, ME, MT, NH, ND, RI, SD, VT, WY


Many of you may see a trend in “why” I am on OSO and yes, I am an advertiser, but I try more than anything to be a resource for all of you and to provide you with valid, reliable and honest information. Those of you who know me and have met me know that I am not a BS’er, I shoot straight and am 100% honest and don’t do anything to jeopardize your insurance or my integrity. If you want an honest, reliable insurance agent, I’m your girl.

WakezoneINS

If you look at your current declarations pages of your policy and those pages do not reflect the TRUE horsepower and speed of your boat, it's time to fix it. I know that there are agents out there that will adjust your horsepower so that you fit into a lower/less expensive program. This is so ethically wrong I won't even begin on what I think of this. Point being, any mistatement of facts of your boat will cause the carrier, in the event of a major claim, to deny your claim due to misrepresentation. Make sure that your current policies are properly written.

WakezoneINS

I think that while I wrote this thread awhile ago, the information in it will serve it's purpose.

We're rapidly approaching boating season and many of you have insurance policies coming up for renewal.

We have added additional state authority so the states listed in here that say we're not licensed in are no longer current. OSO won't let us edit old posts anymore so I can't keep the articles as current as I did before.

Anyways, we've added new carriers to our list as well since this was written....