Insurance coverage , Is this normal?
12-08-2024 | 11:55 AM
#11
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From: Chicago
I agree 100% in that I would never want to burden another boater or passenger with an injury. I'm just not sure boat insurance covers anything other than protecting the boat as an asset. If someone get's injured on a boat wouldn't their health insurance cover that? If they a have charge out of pocket and I'm at fault I'll pay it. Just not sure what boat insurance is actually covering.
"Medical" payments are a $10,000 per occurance.
For me or others? Another question I need answered.
EDIT:
"Protection and Indemnity" (P&I) refers to a type of insurance primarily used by ship owners to protect themselves against potential legal liabilities arising from accidents or incidents that may occur during their vessel's operation, such as injuries to crew or passengers, cargo damage, collisions, pollution, and wreck removal; essentially covering them against third-party claims for damages caused by their ship
I`m covered for $500k
VI.
Protection and Indemnity
$ 500,000
per occurrence
None
VI.
Longshoremen's and Harbor
$ 500,000
None
Workers' Compensation
VII.
Medical Payments
$ 10,000
per occurrence
None
X.
Trailer
$ 10,000
$ 250
$108.00
IV.
Personal Effects
$2,500
$ 250
V.
Commercial Towing and Assistance
$1,000
VIII.
Uninsured Boat Owner
$500,000
Last edited by ICDEDPPL; 12-08-2024 at 11:58 AM.
12-08-2024 | 11:59 AM
#12
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From: Chicago
12-08-2024 | 12:02 PM
#13
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From: Chicago
What does the longshoreman and Harbor workers Act provide coverage for?
The Longshore and Harbor Workers' Compensation Act (LHWCA) is a Federal law that provides benefits to longshoremen, harbor workers, shipyard employees, and other non-seaman marine workers who are hurt, crippled, or develop work-related illnesses while at work on navigable waters or adjoining facilities in the U.S. ...
The Longshore and Harbor Workers' Compensation Act (LHWCA) is a Federal law that provides benefits to longshoremen, harbor workers, shipyard employees, and other non-seaman marine workers who are hurt, crippled, or develop work-related illnesses while at work on navigable waters or adjoining facilities in the U.S. ...
12-08-2024 | 04:08 PM
#16
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From: Bourbonnais, IL
Insurance is legalized gambling in my opinion. The industry has more lobbyist in Washington than anyone. If it's not required by law I'm not sure it makes sense to me. Just my opinion after a bottle of wine
12-09-2024 | 05:25 AM
#17
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From: Tulsa, GLOC
Yes, get umbrella policy. Million $ policy is minimal per year. And I think the Owner is not covered Med wise on boat ins..
But passengers are. And their INS will come after you if they say I was in a Boat Wreck-.
They will also look for Alcohol to void claim.
Agreed value and stated HP a must. if anything happens.
But passengers are. And their INS will come after you if they say I was in a Boat Wreck-.
They will also look for Alcohol to void claim.
Agreed value and stated HP a must. if anything happens.
12-09-2024 | 06:44 AM
#18
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From: Worldwide
I've had a PLUP/PLUB/Personal Liability Umbrella Policy since I started boating. I recently upped it to $3M, and I think it's a few hundred dollars per year.
-Your boat sinks, and fuel/oil spill?
-You blow a tire on your truck, veer into a truckload of new Escalades, totaling all of them?
-Your kid blows a stop sign, T-bones a school bus, and sending 65 children to the hospital?
Any typical limits liability policy at $300K is going to tap out REALLY fast. And you will be on the hook for all of it. THAT'S why I have the Policy.
Now, the PLUP basically kicks in when your $300K liability limit "becomes the deductible" for the PLUP to umbrella over it. You will have to clarify your options with your agent.
-Your boat sinks, and fuel/oil spill?
-You blow a tire on your truck, veer into a truckload of new Escalades, totaling all of them?
-Your kid blows a stop sign, T-bones a school bus, and sending 65 children to the hospital?
Any typical limits liability policy at $300K is going to tap out REALLY fast. And you will be on the hook for all of it. THAT'S why I have the Policy.
Now, the PLUP basically kicks in when your $300K liability limit "becomes the deductible" for the PLUP to umbrella over it. You will have to clarify your options with your agent.
Last edited by Sydwayz; 12-09-2024 at 07:13 AM.
12-09-2024 | 07:02 AM
#19
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From: Bourbonnais, IL
Yes, get umbrella policy. Million $ policy is minimal per year. And I think the Owner is not covered Med wise on boat ins..
But passengers are. And their INS will come after you if they say I was in a Boat Wreck-.
They will also look for Alcohol to void claim.
Agreed value and stated HP a must. if anything happens.
But passengers are. And their INS will come after you if they say I was in a Boat Wreck-.
They will also look for Alcohol to void claim.
Agreed value and stated HP a must. if anything happens.
12-09-2024 | 07:03 AM
#20
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Joined: Dec 2013
Posts: 1,012
Likes: 451
From: Bourbonnais, IL
I've had a PLUP/PLUB/Personal Liability Umbrella Policy for since I started boating. I recently upped it to $3M, and I think it's a few hundred dollars per year.
-Your boat sinks, and fuel/oil spill?
-You blow a tire on your truck, veer into a truckload of new Escalades, totaling all of them?
-Your kid blows a stop sign, T-bones a school bus, and sending 65 children to the hospital?
Any typical limits liability policy at $300K is going to tap out REALLY fast. And you will be on the hook for all of it. THAT'S why I have the Policy.
Now, the PLUP basically kicks in when your $300K liability limit "becomes the deductible" for the PLUP to umbrella over it. You will have to clarify your options with your agent.
-Your boat sinks, and fuel/oil spill?
-You blow a tire on your truck, veer into a truckload of new Escalades, totaling all of them?
-Your kid blows a stop sign, T-bones a school bus, and sending 65 children to the hospital?
Any typical limits liability policy at $300K is going to tap out REALLY fast. And you will be on the hook for all of it. THAT'S why I have the Policy.
Now, the PLUP basically kicks in when your $300K liability limit "becomes the deductible" for the PLUP to umbrella over it. You will have to clarify your options with your agent.
