Re: Insurance, was: Teaching, was:Re: [Cal_Boats] Re: renting or exc

Property insurance, i.e.damage to the boat, stays with the boat. So if your boat gets damaged - either through your action or inaction, by act of nature, or by an act of someone else, your policy will respond. The coverage is linked to the property and stays with it. Liability insurance, i.e. damage done by your property or by you or both, stays with you. In other words the coverage is linked to you and the damage must be traceable back to liability on your part one way or another. Your boat hits another boat because you weren't paying attention - the damage to your boat is covered by property portion of your policy, but the damage to the other boat is covered through your liability portion - even though his boat policy may respond initially - they will revert back to yours for recovery. So - if someone rams into your boat and does damage - your insurance policy - property portion - can and will pay for the damage if you ask them to - subject to the policy deductible, but then they will quickly go after the liability portion of the other boat for recovery and if they are successful you will also get your deductible back. Someone else takes your boat and does the same damage - the incident is disconnected from you, so the property portion still pays for damage to your boat, but the liability portion does nothing - you didn't do it, so you are not liable. If your boat hits someone while operated by someone else, the damage to the other boat would be paid by the property protion of their policy and then they would likely go after the liability coverage of the operator - not yours - for recovery. Typically, he/she would be presented with a liability suit and their personal homeowners policy could respond.. If you are going to charter the boat, you'll need to address that part and endorse your policy to respond to operators other than you. By doing so, you are knowingly accepting - and notifying your insurance company - that you are accepting liability for damage done by your property while operated by others. By doing so, you also accept the responsibility to qualify those "others" as being capable to operate your boat and vouch for them. The charter fee often includes a component for liability insurance, as well as a waiver where the charterer agrees to not hold you liable for the condition of the boat. At least this is how I think it works... :-)

I just looked up Allstate's web site. They are my carrier. It says: Who’s covered under an Allstate Boatowners Policy? •You,the policy owner •Any resident in your home •*Anyone you give permission to use your watercraft* (for Watercraft Liability and Watercraft Medical Payments coverage only) I had previously phoned them about racing coverage and sailboats are covered for racing but power boats are not. Allen On Wed, Apr 3, 2013 at 5:35 AM, <du… [at] aim.com> wrote: > ** > > > Property insurance, i.e.damage to the boat, stays with the boat. So if > your boat gets damaged - either through your action or inaction, by act of > nature, or by an act of someone else, your policy will respond. The > coverage is linked to the property and stays with it. > > Liability insurance, i.e. damage done by your property or by you or both, > stays with you. In other words the coverage is linked to you and the damage > must be traceable back to liability on your part one way or another. Your > boat hits another boat because you weren't paying attention - the damage to > your boat is covered by property portion of your policy, but the damage to > the other boat is covered through your liability portion - even though his > boat policy may respond initially - they will revert back to yours for > recovery. > > So - if someone rams into your boat and does damage - your insurance > policy - property portion - can and will pay for the damage if you ask them > to - subject to the policy deductible, but then they will quickly go after > the liability portion of the other boat for recovery and if they are > successful you will also get your deductible back. > > Someone else takes your boat and does the same damage - the incident is > disconnected from you, so the property portion still pays for damage to > your boat, but the liability portion does nothing - you didn't do it, so > you are not liable. > > If your boat hits someone while operated by someone else, the damage to > the other boat would be paid by the property protion of their policy and > then they would likely go after the liability coverage of the operator - > not yours - for recovery. Typically, he/she would be presented with a > liability suit and their personal homeowners policy could respond.. > > If you are going to charter the boat, you'll need to address that part and > endorse your policy to respond to operators other than you. By doing so, > you are knowingly accepting - and notifying your insurance company - that > you are accepting liability for damage done by your property while operated > by others. By doing so, you also accept the responsibility to qualify those > "others" as being capable to operate your boat and vouch for them. > > The charter fee often includes a component for liability insurance, as > well as a waiver where the charterer agrees to not hold you liable for the > condition of the boat. > > At least this is how I think it works... :-) > > > > >

I looked again and found that others are included in using the boat in the definitions on my BoatUS policy. "insured person means ... or any other person or organization using the insured boat with your permission and without compensation... " So as I thought previously, I can loan my boat out and be insured, but if I'm getting paid for it there is no coverage. John From: Allen Edwards <al… [at] gmail.com> To: "Ca… [at] yahoogroups.com" <Ca… [at] yahoogroups.com> Sent: Wednesday, April 3, 2013 7:42 AM Subject: Re: Insurance, was: Teaching, was:Re: [Cal_Boats] Re: renting or exc I just looked up Allstate's web site. They are my carrier. It says: Who’s covered under an Allstate Boatowners Policy? •You,the policy owner •Any resident in your home •Anyone you give permission to use your watercraft (for Watercraft Liability and Watercraft Medical Payments coverage only) I had previously phoned them about racing coverage and sailboats are covered for racing but power boats are not. Allen On Wed, Apr 3, 2013 at 5:35 AM, <du… [at] aim.com> wrote: > >Property insurance, i.e.damage to the boat, stays with the boat. So if your boat gets damaged - either through your action or inaction, by act of nature, or by an act of someone else, your policy will respond. The coverage is linked to the property and stays with it. >Liability insurance, i.e. damage done by your property or by you or both, stays with you. In other words the coverage is linked to you and the damage must be traceable back to liability on your part one way or another. Your boat hits another boat because you weren't paying attention - the damage to your boat is covered by property portion of your policy, but the damage to the other boat is covered through your liability portion - even though his boat policy may respond initially - they will revert back to yours for recovery. > >So - if someone rams into your boat and does damage - your insurance policy - property portion - can and will pay for the damage if you ask them to - subject to the policy deductible, but then they will quickly go after the liability portion of the other boat for recovery and if they are successful you will also get your deductible back. > >Someone else takes your boat and does the same damage - the incident is disconnected from you, so the property portion still pays for damage to your boat, but the liability portion does nothing - you didn't do it, so you are not liable. > >If your boat hits someone while operated by someone else, the damage to the other boat would be paid by the property protion of their policy and then they would likely go after the liability coverage of the operator - not yours - for recovery. Typically, he/she would be presented with a liability suit and their personal homeowners policy could respond.. > >If you are going to charter the boat, you'll need to address that part and endorse your policy to respond to operators other than you. By doing so, you are knowingly accepting - and notifying your insurance company - that you are accepting liability for damage done by your property while operated by others. By doing so, you also accept the responsibility to qualify those "others" as being capable to operate your boat and vouch for them. > >The charter fee often includes a component for liability insurance, as well as a waiver where the charterer agrees to not hold you liable for the condition of the boat. > >At least this is how I think it works... :-) > >