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Spoonbilla
South Carolina Fan
Member since Aug 2022
282 posts
 Online 

Should insurance companies keep paying

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?


jmarto1
LSU Fan
Houma, LA/ Las Vegas, NV
Member since Mar 2008
30469 posts

Yes


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808
CaptainsWafer
USA Fan
TD Platinum Member
Member since Feb 2006
56678 posts

If the premiums were paid on the boats, yes.

And how do you know zero effort was made ?


Jim Rockford
LSU Fan
Member since May 2011
91227 posts
 Online 

Louisiana South of I-10 finna invite you to a meet and greet at Sonic.


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860
Joshjrn
LSU Fan
Baton Rouge
Member since Dec 2008
22628 posts
 Online 

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 at 6:26 pm


Powerman
LSU Fan
Member since Jan 2004
154712 posts

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.


tonydtigr
USA Fan
Beautiful Downtown Glenn Springs,Tx
Member since Nov 2011
4147 posts

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.


shutterspeed
LSU Fan
MS Gulf Coast
Member since May 2007
55910 posts
 Online 

quote:

If they take the bet and lose, it’s on them.




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160
Powerman
LSU Fan
Member since Jan 2004
154712 posts

Lord knows they make enough efforts to not pay claims. I'll never feel sorry for them for taking an L


armsdealer
New Orleans Pelicans Fan
Member since Feb 2016
8886 posts

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.


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tonydtigr
USA Fan
Beautiful Downtown Glenn Springs,Tx
Member since Nov 2011
4147 posts

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 at 7:17 pm


Basura Blanco
LSU Fan
Member since Dec 2011
3406 posts
 Online 

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?
This post was edited on 9/28 at 6:49 pm


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111
kywildcatfanone
Kentucky Fan
Wildcat Country!
Member since Oct 2012
104216 posts

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.


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BHM
Member since Jun 2012
2604 posts

It’s a calculated gamble. For every boat they have to payout, there are thousands of policies with no claims.


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110
Athanatos
Vanderbilt Fan
Baton Rouge
Member since Sep 2010
7977 posts

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.


9rocket
Member since Sep 2020
454 posts
 Online 

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 at 7:07 pm


tigersbb
Member since Oct 2012
8717 posts
 Online 

All the owner has to say is I was focused on evacuating my family out of harms way and not concerned with property.


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111
Lone Wolf McQuade
Member since Sep 2022
207 posts

Is FEMA paying for it? If not it’s none of my business.


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Tempratt
WRMS Girls Soccer Team Kicks Ass
Member since Oct 2013
11190 posts

Contract was to cover the boats.

The last thing we need is advocating insurance companies not pay out as contracted.


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AllDayEveryDay
Texas A&M Fan
Nawf Tejas
Member since Jun 2015
5575 posts
 Online 

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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