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State Farm Exclusion!!!!
So I just opened my renewal on my 400SS Formula. This year I actually read the exclusions. In section 4 sub c the word "weather" appears. E mailed my agent and he said that this is a new exclusion for state farm. This would include hurricane, tornado, wind, rough seas, ect ect ect. WOW. I would suggest State Farm boat policy holders read and understand there is no coverage for probably the biggest hazard we face. Glad I read it. oh and BTW the premium went up a bit..........Ironic Huh
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State Farm cancelled my coverage at 11:59 on July 3rd the first year I had the boat insured with them after promising me it wasn't a problem. Screw them.... I have nothing with them now. No auto, no homeowners, no rental house, nothing. |
On all our policies down here you have either a regular policy or a named storm policy. You have to have "named storm coverage" to be covered during a big storm. I heard last year that that was even going to be limited up to category 3.
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On all our policies down here you have either a regular policy or a named storm policy. You have to have "named storm coverage" to be covered during a big storm. I heard last year that that was even going to be limited up to category 3. Not only that but most the policies I needed to request "offshore" which is 1 mile or more offshore
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I had several boats insured with SF for years. I figured I'd shop around for my current boat and SF's rates were much higher than some others. I ended up with Boat US / Geico.
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That is interesting, I just checked my State Farm policy (policy for 2019 season) and I did not see this. Not sure if anyone cares but my policy number has FP-7900.1 on the first page. I am located in PA and I am wondering if that may mean I get a different policy... |
Our first boat was a 27' Fountain Fever with a 502 MPI. Had everything with State Farm. They called about 3 months into ownership and said "we don't ensure race boats". I laughed at the agent. Race Boat??? Same engine as every other boat on our river.
Call Christopher Wagner at LOTO. He should be able to help you. Wagner Insurance Agency |
https://cimg9.ibsrv.net/gimg/www.off...311024682.jpeg Dealing with insurance companies these days... |
Because they never loose, storm damage in the Midwest is a given so if they have a bunch of claims they raise rates across the board, ever hear of one going out of business ??
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Got a call today from the supervisory underwriter. I filed a "RANT" with SF. They were not happy about loosing 7 other policy's. So they will show a addendum on the renewal declarations page.........In their defense after I read further details on down the page it seems to contradict itself 2 more times.https://cimg0.ibsrv.net/gimg/www.off...c8ec8b4c07.jpg
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