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Message
Should insurance companies keep paying
Posted on 9/28/22 at 6:23 pm
Posted on 9/28/22 at 6:23 pm
Should insurance companies pay out for all of these multi million dollar boats that people made zero attempt to get out of the way of these storms?
28
Posted on 9/28/22 at 6:23 pm to Spoonbilla
Yes
Posted on 9/28/22 at 6:24 pm to Spoonbilla
If the premiums were paid on the boats, yes.
And how do you know zero effort was made ?
And how do you know zero effort was made ?
Posted on 9/28/22 at 6:25 pm to Spoonbilla
Louisiana South of I-10 finna invite you to a meet and greet at Sonic.
Posted on 9/28/22 at 6:25 pm to Spoonbilla
As a rule, the insured has a duty to take reasonable action to avoid an insured loss. I imagine there will be years of litigation over that point, as to whether the actions taken, and not taken, were reasonable. I further imagine the local attorneys are sharpening their knives.
This post was edited on 9/28/22 at 6:26 pm
Posted on 9/28/22 at 6:27 pm to CaptainsWafer
quote:
And how do you know zero effort was made ?
Legit question. I don't know the logistics of moving a large boat but it sure isn't as simple as pulling up your Tacoma and driving off with it.
The better question is if the assets are even insurable products but I'll leave that for the people at the insurance company to figure out.
Posted on 9/28/22 at 6:28 pm to Spoonbilla
quote:
Should insurance companies pay out for all of these multi million dollar boats that people made zero attempt to get out of the way of these storms?
Insurance companies are in the gambling business. Sometimes, even though the odds are in their favor, the house does lose. If they take the bet and lose, it’s on them.
Posted on 9/28/22 at 6:30 pm to tonydtigr
quote:
If they take the bet and lose, it’s on them.
Posted on 9/28/22 at 6:31 pm to tonydtigr
Lord knows they make enough efforts to not pay claims. I'll never feel sorry for them for taking an L
Posted on 9/28/22 at 6:32 pm to Spoonbilla
My boat insurance would pay to hire a driver to move it out of harms way. Some of these people want to get out of a 30 year note, have 2footitis or just want a new boat. That being said, insurance companies are scummy as hell so I take no sides and just watch from the sidelines.
Posted on 9/28/22 at 6:38 pm to Powerman
quote:
Lord knows they make enough efforts to not pay claims. I'll never feel sorry for them for taking an L
Been there. They still owe me a bunch of money that they screwed me out of.
This post was edited on 9/28/22 at 7:17 pm
Posted on 9/28/22 at 6:44 pm to Spoonbilla
Pay my insurance premiums on the three boats I own and get back to me.
And if there is a premium addendum that I can pay that would put the onus on them to take my boats away in a pending storm, where do I sign?
And if there is a premium addendum that I can pay that would put the onus on them to take my boats away in a pending storm, where do I sign?
This post was edited on 9/28/22 at 6:49 pm
Posted on 9/28/22 at 6:45 pm to Spoonbilla
They will pay out as a last resort after as much gnashing of teeth that they can do to wait for the govt to cover the insuree's losses.
Posted on 9/28/22 at 6:50 pm to tonydtigr
It’s a calculated gamble. For every boat they have to payout, there are thousands of policies with no claims.
Posted on 9/28/22 at 6:56 pm to Spoonbilla
You better believe that those policies have hurricane clauses that require the owners take reasonable efforts to protect the vessel. Some will even compensate you for moving the boat out of the path.
Posted on 9/28/22 at 7:05 pm to tonydtigr
quote:
Insurance companies are in the gambling business.
That’s cute.
I guess casinos are also in the gambling business.
No offense.
This post was edited on 9/28/22 at 7:07 pm
Posted on 9/28/22 at 7:09 pm to Athanatos
All the owner has to say is I was focused on evacuating my family out of harms way and not concerned with property.
Posted on 9/28/22 at 7:10 pm to Spoonbilla
Is FEMA paying for it? If not it’s none of my business.
Posted on 9/28/22 at 7:10 pm to Spoonbilla
Contract was to cover the boats.
The last thing we need is advocating insurance companies not pay out as contracted.
The last thing we need is advocating insurance companies not pay out as contracted.
Posted on 9/28/22 at 7:15 pm to Spoonbilla
No but flood insurance laws need to change. Homeownership should require it to some degree. FEMA as an agency is getting reamed on flood claims every hurricane
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