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By, Ronald D. Bradley President, Bradley Insurance Group Allstate Insurance Company
It’s a beautiful weekend. It's Sunday afternoon. The sky is blue with a
light breeze and the bite was hot this morning. I am back at the dock
by 2 and there are plenty of fillets for this evening’s cookout. It’s
even a 3 day weekend. How much better could it be?
As I stow my gear and prepare to clean my boat, the phone rings. My
wife picks up and I overhear her talking to a friend/client. An instant
later, she yells “honey, get the phone quick. It's George and he's in
trouble!”
George and I have a friendship that endures a continuous amount of bantering and joking, so I wasn’t shocked when he blurted out "Ron, I'm sinking!. My numbers are 25.43 N, 74.10 W in Hawks Channel heading from Key Largo to Miami". I quickly reply, “don't worry, it's only about 3 feet deep there so you're in no danger of drowning and there’s some great yellowtail fishing close by". As several graphic expletives blurted from the phone, George seemed very excited and quickly got very agitated with me, "Come on George quit fooling around, it's a beautiful day and one of these days you might really need help and I’ll think you’re just crying wolf”. As George continues his attempt to convince me, I over hear the VHF chatter in the background and make out what sounds like SeaTow asking all boaters to clear the channel. A vessel has hit ground in Hawks Channel off north Key Largo. There’s a man, woman and small child aboard. They’re taking on water from a hole where the shaft used to be.
I think to myself, “maybe George isn’t joking”.
Its several hours later and luckily George and his family are fine. Their boat is being hauled out at a local repair facility but the time has already come for George to begin dealing with new problems.
What did I hit? What’s it going to cost? Who’s going to pay for it?
Well, George ran aground in coastal waters and is about to discover that in addition to the damage done to his boat, he's now facing huge towing and salvage bills, fines for damaging the underwater reef area and possible penalties from the Marine Patrol and National Park Service.
In the blink of an eye, George’s outlook toward his insurance company has a whole new definition. Only recently he was thinking what a waste of money all those years of paying for that policy, and all for what? George obviously never had to make a claim. He never thought when he woke up that morning that he would be faced with the following issues. Legal concerns, repair cost options, ACV, deductibles, prorated valuation, liability limit, perils, insured operator, exclusions, limitations, navigational bounds, claim denial, etc. etc .....
OK quickly. In the next 10 seconds tell me who your insurance agent is? No not the company, who’s your agent? If your feet we’re in George’s shoes, you would quickly find out that your agent is equally as important as the company is. If you don't have an agent that understands boating, how could he steer you in the right direction through a claim? Your headaches could just be starting.
The questions you ask now may not even solicit the answers you were expecting. During a claim, it’s too late to be thinking about what you would like to change about your boat’s insurance policy. Instead, you should thoroughly review and understand your entire policy right now.
If you’re meeting with an insurance agent to apply for a policy, then make sure to thoroughly discuss your questions, comments and concerns. Don’t wait until an issue arises. Whether you are a weekend warrior or an avid tournament fisherman, it's important for your agent to understand what level of risk you are willing to absorb in the event of an accident. You should discuss what assets you have. Whether you own your home, have an investment account or own other financial assets. If so, then you need an entirely different level of protection than someone who is renting and may have limited assets.
Equally as important, discuss what amount you are willing to share in the even of a loss? How much are you willing to cover out of pocket before your insurance plan takes over? A good agent will help you to find the right balance between what you feel comfortable paying (Premium) and the insurance coverage that you need.
In the brief story above there are numerous expenses that may have been incurred:
1) Physical damage to the boat
2) Medical bills for injuries suffered on board or while in the water
3) Towing and/or salvage bills
4) Legal fees
5) Restoration for damage caused to the undersea environment
5) State or other Governmental fines
6) Deductibles
Different policies have different exclusions including navigation areas, limitations and sometimes staggering deductibles. If you are like most boaters you're not sure what it all means. Which is why you need to know who your agent is and where his phone number is at.
As Allstate's #1 boat insurance agent in the country, the most valuable information I can offer you is to know who your agent is and to be sure he or she understands your individual needs.
Enjoy Boating!
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