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HELP with trailer claim. Insurance putting it to me after years of paying them!!!!!!

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HELP with trailer claim. Insurance putting it to me after years of paying them!!!!!!

Old 11-22-2014, 07:20 PM
  #21  
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Hope you get things back in order for Outlaw!! We rent a condo / house just down the street from you every year. (Johns Street)

Last edited by 97FASTech; 11-22-2014 at 07:22 PM.
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Old 11-23-2014, 05:42 PM
  #22  
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Looking forward to getting back out Missed out on my favorite of year dealing with this.
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Old 12-10-2014, 10:15 AM
  #23  
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Of all of my carriers that I represent and write policies with only 1 has an option for insuring the trailer for a replacement value as opposed to the standard ACV value at the time of loss.
American Reliable offers replacement cost on engines and trailers up to 5 years of age, then after that, the policy reverts to ACV coverage on the trailer. It is one of those industry standard things you will likely never get around. So, couple tips for the future and for all to double check on their policies.

When you have a policy that pays ACV, you determine the amount to insure the trailer for based on what you could sell it for or what it appraises for, NOT what it costs to replace. I cannot tell you how many times I ask someone how much coverage they want on their trailer and they reply back with... "Well, it would cost me X amount of dollars to replace it so..." Replace to most would mean that you just go out and buy a new trailer (new as it current year). Well, insurance does work that way, replace means, like kind and value... So, safest bet, insure your trailer for what you could sell it for on craigslist or other selling site. Do not think along the lines of replacement cost otherwise you will be disappointed all the time.

As for recourse on the claim that the tread is about, you could always get the trailer appraised or find similar ones for sale (like kind and value). But finding solo trailers is typically not easy since it's usually a package deal. Present your independent findings to the adjuster and don't accept payout until you've done all the research you need to do.
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Old 12-10-2014, 10:20 AM
  #24  
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Default What do inquiring minds want to know???

I've always tried to use my membership here on OSO to feed the community with knowledge and assistance for the insurance aspect of powerboating. After many years on OSO and many articles written, I am fresh out of "new" ideas of things to write about so... asking for your help...

What do you want to know about insurance and powerboating?

What has always confused you, frustrated you and/or just made you wonder?

I would love to hear some responses so that I can use your questions to create threads that hopefully many others could benefit from.

Stacy
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