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 Insurance Loss-Help Needed
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nitronut
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22 posts
Dover NH
 Insurance Loss-Help Needed10:00 PM 11/2/2009 Reply  Edit

Please let this help someone and at the same time I need someone's help. Recently during a tournament my big motor broke down and found myself stranded. I called the Tournament Director and he sent someone out to help me. The lake was calm with maybe 5mph winds at this point and it took the assistant director about 15 minutes to get to me. During the approximately 10-12 mile return trip winds kicked up to 25-30 with steady 5 foot swells and occasion 6-7 footers. Within minutes his boat was swamped with water coming over the stbd transom where my boat was tied. We were able to get his 7 year old off his boat before it completely wend under. Unable to get to the line in the big water we were able to cut his boat free before it sunk mine as well. With no power my boat helplessly drifted through the waves crashing upon rocks and destroyed the hull. This is the short version of a scary recent day on the water.
Losses are astronomical on both sides. Jimmy, the asst director, had liablity only on his boat. My boat hull will be replaced. The problems. Jimmy's is not covered. My boat tow coverage was only $500 and it was $625 to have a hard grounding removal plus tow. I paid for Jimmy's boat to be salvaged at a cost of $2000. His boat is totalled and his loss including equipment is about $10,000. I lost about $1500 in equipment and had another $500-$1000 destroyed because of my boat being submerged and all my plastics soaking in a fuel/water mixture.
We submitted a liability claim with my carrier as he was towing me when this happened and if he wasn't he wouldn't have sunk. I feel responsible but my insurance carrier says that his boat did not sink due to my negligence and denied the claim. His total loss about $10,000. On my equipment, I had a lengthy conversation when I bound my coverage 2.5 years ago telling my agents rep that I did need my equipment covered for $5000 to $10,000 because of how much we bass fishermen have in our boat at all times. Although I requested it, I never checked my policy back then and they are denying that part of the coverage. My total loss even with decent insurance will be about $5000 for excess towing fees, Jimmy's salvage, and my damaged and lost equipment.
Any one else go through this before. Should I contact a lawyer? Are all insurances involved (mine, tournament trail's, Jimmy's liability) going to deny the claim based on his lack of hull insurance?
I have been reading this site and I hope my message helps even 1 person by saying take the extra time to look at your coverage and find an agent who will tailor your coverage to your needs and assure completeness of the policy. I wish I had that experience in the past on my $50,000 boat and $10,00 equipment.
2008 Nitro Z9 Merc 225 Pro XS
NH Nitro State Team
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wolfman051
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76 posts
Linn MO
 Re: Insurance Loss-Help Needed (nitronut) »9:36 AM 11/3/2009 Reply  Edit

I"ll try and explain a brief summation: Jimmie is basically screwed. Liability is just that, LIABILITY. No Physical damage coverage at all. Jimmie took all the risk when he tried to tow you back in. Nothing from what I've read in your statement above makes me believe that your insurance policy is responsible for his boat. You are to be commended for paying his salvage fees, I don't know to many people who would have offered to do that.

Also if you have anything in writing from your agent or represenative about increasing the values of your personal property or electronics on your boat and they did not increase coverage, you might and its a very long shot have an E&O (errors and emmisions) claim against your agent.

i know this is probably not what you want to hear . But its important for everyone to set down with their agent and go over your insurance policies and ,make sure its right. Ask questions..Never buy insurance based solely on price buy it for what it will do for you at a time of need

Wolfman051:
1998 Gambler Intimidator 2000
1998 Merc 225 EFI
Linn, MO
insurancepro
Worldwide Marine Insurance

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321 posts
Portland Mi
 Re: Insurance Loss-Help Needed (wolfman051) »10:54 AM 11/3/2009 Reply  Edit

Tod, I'm sorry to hear this. I may be able to offer some suggestions to you. I will be more than happy to speak with you and do what I can to help. Feel free to give me a call. Thanks Bob Luellen 800-339-1235
sro114
sro114

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132 posts
Bridgeport WA
 Re: Insurance Loss-Help Needed (nitronut) »11:52 PM 11/16/2009 Reply  Edit

Not sure what size the tournament was, but many times they have insurance and since he was performing duties in his work for the tournament he may have a claim there.
 


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