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Umbrella policy if you have a trampoline

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  • invenio
    replied
    The original topic started off with insurance not covering with a trampoline so I thought I would chime in on that. I recently changed home owners insurance and they gave me some trouble with it as well. Ultimately, I went with Hanover Insurance company for the home owners as well as a $2 million dollar umbrella policy. They didn't give any problems but they did request that it be netted.

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  • afan
    replied
    I am surprised the insurance company has not cancelled the policy after two five-figure claims on a policy that cost less than $300. Hardly surprising that they try to keep payments low.

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  • childay
    replied
    Originally posted by The White Coat Investor View Post

    Boats do sink from time to time. Put that engine underwater and it's probably totaled.
    Agreed. But it would take pretty spectacular stupidity to sink a tritoon on the lake. Teenage captains aside perhaps trying to turn it into a wakeboat

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  • The White Coat Investor
    replied
    Originally posted by Tim View Post
    Avoids getting screwed by the insurance company. Brand new.
    I'm sure they can still figure out a way to hose you! But I agree, it would be harder for them to nickel and dime on gel coat dings. But they could argue it was worth less than you think or fight you on what was inside the boat etc.

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  • Tim
    replied
    Originally posted by The White Coat Investor View Post

    Not sure why you think I want to total my boat. I just buy insurance in case I do.

    And no, Katie didn't get hurt boating.
    Avoids getting screwed by the insurance company. Brand new.

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  • The White Coat Investor
    replied
    Originally posted by Tim View Post

    Sooo, if I have a boat (which I don’t) when I hit a rock I should make sure to hit it hard enough to sink? I might jump up and down to help it along.
    Please don’t tell me Katie’s ortho visit happened due to one of those times.
    Not sure why you think I want to total my boat. I just buy insurance in case I do.

    And no, Katie didn't get hurt boating.

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  • Tim
    replied
    Originally posted by The White Coat Investor View Post

    Boats do sink from time to time. Put that engine underwater and it's probably totaled.
    Sooo, if I have a boat (which I don’t) when I hit a rock I should make sure to hit it hard enough to sink? I might jump up and down to help it along.
    Please don’t tell me Katie’s ortho visit happened due to one of those times.

    Leave a comment:


  • The White Coat Investor
    replied
    Originally posted by childay View Post

    It sounds like a good move. We have a tri-toon and unlikely to do anything to total it. No gelcoat involved. The motor might blow up or something I guess which would be $$$
    Boats do sink from time to time. Put that engine underwater and it's probably totaled.

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  • childay
    replied
    Originally posted by The White Coat Investor View Post

    The problem is there is no counter without going to court. You're just subject to their decision. You can argue with them, but you have no leverage.

    For those wondering why I have insurance even if I can afford to replace the entire boat? I guess because I think I'm more likely than the average boater to total. I think it's a good deal. Plus it's convenient. I'm more likely to do a repair and still have a boat if insurance is paying for it!
    It sounds like a good move. We have a tri-toon and unlikely to do anything to total it. No gelcoat involved. The motor might blow up or something I guess which would be $$$

    Leave a comment:


  • Tim
    replied
    Originally posted by The White Coat Investor View Post

    The problem is there is no counter without going to court. You're just subject to their decision. You can argue with them, but you have no leverage.

    For those wondering why I have insurance even if I can afford to replace the entire boat? I guess because I think I'm more likely than the average boater to total. I think it's a good deal. Plus it's convenient. I'm more likely to do a repair and still have a boat if insurance is paying for it!
    Insurance companies know that any attorney will take it probably on a 1/3 retainer. Presto, settle for 2/3's or the claim value IF they are playing nice.

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  • The White Coat Investor
    replied
    Originally posted by bovie View Post

    That's good at least--though I suppose it would have helped you counter that ridiculous "the dock did it" claim!
    The problem is there is no counter without going to court. You're just subject to their decision. You can argue with them, but you have no leverage.

    For those wondering why I have insurance even if I can afford to replace the entire boat? I guess because I think I'm more likely than the average boater to total. I think it's a good deal. Plus it's convenient. I'm more likely to do a repair and still have a boat if insurance is paying for it!

    Leave a comment:


  • bovie
    replied
    Originally posted by The White Coat Investor View Post

    No
    That's good at least--though I suppose it would have helped you counter that ridiculous "the dock did it" claim!

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  • The White Coat Investor
    replied
    Originally posted by bovie View Post

    For a day boat on freshwater, yes, cheap.

    Different story with larger/more complex craft or anything with access to the sea.

    Sounds like a lot of hassle for your gelcoat though. Hull damage to go with it?
    No

    Leave a comment:


  • Marko-ER
    replied
    Short answer -- agree with everyone else. Do NOT have a trampoline. Here, one of the nicer parks in town has a "pseudo" trampoline that's some sort of ultra-padded and fenced in thing for kids to jump around in. You can get pretty good "air" with it, but you are not personally liable. I can find out the brand/type it is for you, if anyone is interested.

    Leave a comment:


  • bovie
    replied
    Originally posted by The White Coat Investor View Post

    It's the best deal on insurance out there. < $400 a year. I've had two 5 figure claims. I can't believe how cheap boat insurance is. Maybe that's why they have to weasel out of legitimate claims. But you're right, we probably could self-insure, but I think I'm a higher risk boater than most given my use patterns (not that I'm a bad driver or something, I just use my boat (80+ hours a seasons) and take my boat places that many would not--murky water, rapidly changing water levels, underwater rockfalls, flash floods etc.)
    For a day boat on freshwater, yes, cheap.

    Different story with larger/more complex craft or anything with access to the sea.

    Sounds like a lot of hassle for your gelcoat though. Hull damage to go with it?

    Leave a comment:

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