Insurance coverage , Is this normal?
12-09-2024 | 08:06 AM
#21
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Joined: Jun 2007
Posts: 7,296
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From: Merritt Island, FL
I do the same with umbrella coverage.
Of course the other item is the lawsuits. Seems any accident no matter how small and you will get a lawsuit.
Had a “bump” earlier this year with my truck, you can not even see the tiny scratch on it. No one claim injuries etc. week latter all 5 in the other truck suing for medical issues.
BS
Of course the other item is the lawsuits. Seems any accident no matter how small and you will get a lawsuit.
Had a “bump” earlier this year with my truck, you can not even see the tiny scratch on it. No one claim injuries etc. week latter all 5 in the other truck suing for medical issues.
BS
12-09-2024 | 11:48 AM
#22
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Joined: Sep 2014
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From: Portland, OR
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.
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.
I do the same with umbrella coverage.
Of course the other item is the lawsuits. Seems any accident no matter how small and you will get a lawsuit.
Had a “bump” earlier this year with my truck, you can not even see the tiny scratch on it. No one claim injuries etc. week latter all 5 in the other truck suing for medical issues.
BS
Of course the other item is the lawsuits. Seems any accident no matter how small and you will get a lawsuit.
Had a “bump” earlier this year with my truck, you can not even see the tiny scratch on it. No one claim injuries etc. week latter all 5 in the other truck suing for medical issues.
BS
12-09-2024 | 12:20 PM
#23
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From: Chicago
I looked into an umbrella policy.
Was not able to get one that covers the boat, that was with my State farm agent that has every car and truck and business , workers comp etc ..
Talked with Total. 1100hp engines and coverage for 135-165mph they are aware it is not original engines .
He answered all my other question to my satisfaction.
Was not able to get one that covers the boat, that was with my State farm agent that has every car and truck and business , workers comp etc ..
Talked with Total. 1100hp engines and coverage for 135-165mph they are aware it is not original engines .
He answered all my other question to my satisfaction.
12-09-2024 | 12:44 PM
#24
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Joined: May 2012
Posts: 11,418
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From: Midwest & T-Rock
Not sure what all this means other than stability, but my new agent told me this when I was shopping.
No, State Farm General Insurance Company's (State Farm General) financial strength rating (FSR) was downgraded from A (Excellent) to B (Fair) in March 2024:
No, State Farm General Insurance Company's (State Farm General) financial strength rating (FSR) was downgraded from A (Excellent) to B (Fair) in March 2024:
- FSR: Downgraded from A (Excellent) to B (Fair)
12-09-2024 | 12:59 PM
#25
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Joined: May 2001
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From: Worldwide
I really don't know if you can get an Umbrella Policy to be the ONLY liability coverage for your boat, period. Typically EACH vehicle, home, etc. needs it's own policy as a "deductible" to engage the PLUP.
BUT, you NEED to TALK to your AGENT. You can't just hit a website to get these answers. I, like Dan, have a State Farm agent who has pages of my insurance policies. He happens to be a gearhead too. And every though I don't own a boat at the moment, I still carry an cheap agreed value insurance policy and liability on the last one, a cat no less; just so I don't have "gap in coverage" or "boat ownership" to keep my boating resume up to par for when I am done racing cars, and ready to do something dumb like buy a boat again.
BUT, you NEED to TALK to your AGENT. You can't just hit a website to get these answers. I, like Dan, have a State Farm agent who has pages of my insurance policies. He happens to be a gearhead too. And every though I don't own a boat at the moment, I still carry an cheap agreed value insurance policy and liability on the last one, a cat no less; just so I don't have "gap in coverage" or "boat ownership" to keep my boating resume up to par for when I am done racing cars, and ready to do something dumb like buy a boat again.
12-10-2024 | 08:28 AM
#27
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Joined: Jun 2007
Posts: 7,296
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From: Merritt Island, FL
I looked into an umbrella policy.
Was not able to get one that covers the boat, that was with my State farm agent that has every car and truck and business , workers comp etc ..
Talked with Total. 1100hp engines and coverage for 135-165mph they are aware it is not original engines .
He answered all my other question to my satisfaction.
Was not able to get one that covers the boat, that was with my State farm agent that has every car and truck and business , workers comp etc ..
Talked with Total. 1100hp engines and coverage for 135-165mph they are aware it is not original engines .
He answered all my other question to my satisfaction.
