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Old 10-04-2012, 07:44   #1
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Insurance Claims and Black Lists

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Had a minor mishap last week. The transmission linkage let go and we bumped another boat in our marina.

Word on the dock is that submitting an insurance claim to cover any damages will black list us when it comes time to go offshore cruising.

Does anyone have any experience with this? How would one minor claim make it hard to get world wide coverage for us down the road?

FYI, before submitting the claim, my insurance rep said it may cost me my "new guy" discount, about $100 on my $1200/year policy.

Thanks
Pat
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Old 10-04-2012, 08:14   #2
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Re: Insurance Claims and Black Lists

It may be cheaper to just pay out of pocket to have the damage repaired yourself.
Your deductible may be higher than the cost of the repair.
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Old 10-04-2012, 08:40   #3
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Re: Insurance Claims and Black Lists

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Originally Posted by pwilliams View Post
Forum:

Had a minor mishap last week. The transmission linkage let go and we bumped another boat in our marina.

Word on the dock is that submitting an insurance claim to cover any damages will black list us when it comes time to go offshore cruising.

Does anyone have any experience with this? How would one minor claim make it hard to get world wide coverage for us down the road?

FYI, before submitting the claim, my insurance rep said it may cost me my "new guy" discount, about $100 on my $1200/year policy.

Thanks
Pat

I really don't think a transmission problem will cost you your insurance. These things happen. I know a guy who let his headsail blow out because he had a continuous line furler and didn't secure it well enough before a storm. His insurance company didn't cancel him (of course, they didn't know that several people warned him and he ignored it ...)

That said, it will probably raise your rates. You described it as a "bump." If the damage isn't extensive, and it wouldn't cost that much more than your deductible, I personally think having a clean insurance record is a valuable thing. I've had a sailboat for 4 1/2 years. I guarantee you things happened, but they weren't bad and I'd rather have a clean record.
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Old 10-04-2012, 08:41   #4
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Re: Insurance Claims and Black Lists

My wife and I were reviewing our car insurance and noticed we had some kind of AAA like roadside assistance coverage. In the last year we have had 2 separate problems with our van that required a tow. So we turned one in and were asking our agent about the other. The agent asked the insurance people and was told:

when the policy comes up for renewal next year, having two claims turned in close together and for smaller amounts like this, might be cause for a non-renewal flag to go up

So my wife replied to our agent with:

“this causes me to want to re-evaluate them as our insurance provider.”

Our agent told the insurance people this and gets this reply:

He just told me that there would be no action taken with just these two small claims. I had misunderstood that part of his explanation.

Right….
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