Insurance Shock!!!

[RIPPINGNOLEGSKROKER]

Please list coverages also, cheap bottom line numbers dont mean a thing if they dont cover your ass, forget the boat what are the liability coverages
R.I.P. Johhny Cockring

[INSman]

Why do people feel the need to call thier insurance company when thinking about or doing a "Repower" ??
I will state this once again and hopefully for the last time:
With a standard company like Progressive, State Farm, AAA, Allstate, Farmers, etc., you will not find anything in the policy that states you have to contact them in this situation. You should just get your normal renewal in the mail.
You cannot be dishonest in the application process, which would allow for denial of a claim, based upon misrepresentation of facts on the application or in conversations with the agent.
The only problem is that you will not get replacement coverage for that engine, only what was originally on the boat. I for one am not going to pay out thousands of dollers a year when I know I can get a policy for $800, just beacause I increased the engine HP, added a Whipple or whatever.

[HavasuDreamin']

he told me that they were a membership company that would allow me access to discounted rates to a third (un-named) party that underwrites the policy.
And now you know why they have cease and desist orders. I can't imagine the run around you would get in the event you were to file a claim. Company's like this take your premiums and make you sue them in a foreign land or foreign state (both equal traveling and hiring lawyers in that area) to collect. Bad news. :yuk:

[diggler]

So, let me get this straight... I am insured with AAA right now. I get the new engine at the end of April. I never lied on the original application with them back in September.
Now, I get a significantly higher hp engine. I could care less about the replacement cost. What I'm worried about is the liability. What is the situation there?
Why do people feel the need to call thier insurance company when thinking about or doing a "Repower" ??
I will state this once again and hopefully for the last time:
With a standard company like Progressive, State Farm, AAA, Allstate, Farmers, etc., you will not find anything in the policy that states you have to contact them in this situation. You should just get your normal renewal in the mail.
You cannot be dishonest in the application process, which would allow for denial of a claim, based upon misrepresentation of facts on the application or in conversations with the agent.
The only problem is that you will not get replacement coverage for that engine, only what was originally on the boat. I for one am not going to pay out thousands of dollers a year when I know I can get a policy for $800, just beacause I increased the engine HP, added a Whipple or whatever.

[INSman]

So, let me get this straight... I am insured with AAA right now. I get the new engine at the end of April. I never lied on the original application with them back in September.
Now, I get a significantly higher hp engine. I could care less about the replacement cost. What I'm worried about is the liability. What is the situation there?
The situation is, take a few moments and READ your particular policy. You want to look at the definition of liability which will refer to bodily injury and property damage, and most importantly, you want to look at the policy "exclusions". You should find absolutely nothing in the policy that states that you are to notify the company of any changes made to your boat/engine and you should find nothing that would state that coverage is null & void if your boat has a different motor or more horsepower than what it had initially when you secured the coverge.
At worst case scenario, if you were found to be negligent in a situation, had a decent size claim, and it was somehow determined or suggested that the causation of that loss was due in part or whole to that upgraded or modified motor, you can bet you will be shopping for a new carrier come renewal time, as would be the case probably without any changes or modifications.
If you want to feel really comfortable, call your agent as if you were shopping for a boat quote and ask them about this exact situation. Don't tell them of course that it is you, just pretend to be Joe whoever on the street. I as would others like to hear that response and exactly where in the policy they would direct you to as a resolve to your questions or concerns.