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Started By
Message
Insurance - file claim? Or pay out-of-pocket
Posted on 7/19/24 at 10:49 am
Posted on 7/19/24 at 10:49 am
Long story short - boat has cracked lower unit.
Deductible is $250
Quotes for new running $5K
How much should one reasonably expect their premium to go up with a claim? Over my lifetime of being a boat owner… will the increase premium not be worth it?
Thoughts?
Deductible is $250
Quotes for new running $5K
How much should one reasonably expect their premium to go up with a claim? Over my lifetime of being a boat owner… will the increase premium not be worth it?
Thoughts?
7
Posted on 7/19/24 at 3:14 pm to Fbohn1
Depends how rich you are. 250 seems like a no brainer
Posted on 7/19/24 at 4:59 pm to Fbohn1
quote:
boat has cracked lower unit.
How did it get cracked?
quote:
Long story short
Give us the details because that's going to be important.
Posted on 7/19/24 at 7:15 pm to Fbohn1
(no message)
This post was edited on 8/17/24 at 8:22 am
Posted on 7/19/24 at 7:29 pm to Fbohn1
$4,750?
I would file the claim.
I would file the claim.
Posted on 7/19/24 at 8:32 pm to lsuconnman
quote:
Do you have a bunch of bundled policies? If not, I’d file the claim and take my chances.
This.
Posted on 7/19/24 at 8:40 pm to Fbohn1
How did the lower unit get cracked?
I’d first make sure it would be covered before I went about filing claim.
I’d first make sure it would be covered before I went about filing claim.
Posted on 7/20/24 at 6:51 am to HarveyBanger
This maybe a better question for the OB also. I’m not really sure how boat insurance works in relation to everything else.
Posted on 7/21/24 at 5:00 am to Fbohn1
If you’re not going to make a claim then why the f*** would you even carry insurance in the first place?
Posted on 7/21/24 at 7:22 am to BabyTac
quote:
If you’re not going to make a claim then why the f*** would you even carry insurance in the first place?
I think OP is worried filing a claim to pay $250 will lead to premium increases that will lead to costs being greater than $250.
Posted on 7/21/24 at 8:16 am to StringedInstruments
Sounds like he’s paying $5000 regardless. It’s $250 and file or $5000 and not file. I doubt they are raising your payment by $5000 over the next few years.
My experience is that insurance does not rise when you file normal claims like vandalism for cars or cracked windshield. Never owned a boat though.
My experience is that insurance does not rise when you file normal claims like vandalism for cars or cracked windshield. Never owned a boat though.
Posted on 7/21/24 at 9:12 am to Drizzt
quote:Correct. Comprehensive losses are not typically chargeable. In fact a bunch of states have laws against raising rates due to a comprehensive loss. The only caveat is that if a large area has a comprehensive loss (like the Houston or BR flood) the rates for everyone may be raised because of the entire risk pool.
My experience is that insurance does not rise when you file normal claims like vandalism for cars or cracked windshield. Never owned a boat though.
And for the people asking how the transom was damaged, I think that’s a valid question. It may or may not be a covered loss. But filing a claim and it not being a covered loss isn’t going to raise your rates. It will probably show up on your CLUE report, but a boat claim won’t be a red flag.
Posted on 7/21/24 at 9:29 am to Fbohn1
Engine details?
Posted on 7/21/24 at 10:39 am to StringedInstruments
quote:
think OP is worried filing a claim to pay $250 will lead to premium increases that will lead to costs being greater than $250.
I get that for ‘on the fence’ items, but the claim the OP would be making is the sole reason for having insurance. If he’s not going to make a claim why doesn’t he just cancel his insurance and stop paying premiums?
Posted on 7/21/24 at 12:18 pm to lsuconnman
Can you expound upon this?
As a novice at this, I would think if you had a bunch of policies with one carrier, they would be less likely to jack the rates up. It sounds like the opposite may be true…
As a novice at this, I would think if you had a bunch of policies with one carrier, they would be less likely to jack the rates up. It sounds like the opposite may be true…
This post was edited on 7/21/24 at 1:54 pm
Posted on 7/22/24 at 9:35 am to BabyTac
quote:
I get that for ‘on the fence’ items, but the claim the OP would be making is the sole reason for having insurance. If he’s not going to make a claim why doesn’t he just cancel his insurance and stop paying premiums?
Insurance is generally for either risk mitigation or to cover yourself for unexpected large expenses you can’t afford. Boat insurance is usually for liability insurance or for large expenses like a sinking or fire.
That’s why I have it
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