David, I use Berkeley Marine through an independent broker. No claims experience luckily.
Joel On Tue, Nov 12, 2019 at 12:38 PM David E Spiro via CnC-List < cnc-list@cnc-list.com> wrote: > I can absolutely confirm that BoatUS/Geico depreciates to 20 percent on > repairs, on a policy that has an agreed value. The agreed value is for a > total loss. When they paid for repairs on my 1981 C&C 40 this past summer, > I had to pay for 80% of any fitting or other part of the hull, AFTER the > deductible. Labor is not depreciated. But… > > > > In my case, BoatUS/Geico sent adjusters who had no experience or knowledge > of sailboats. The adjusters gave a ridiculously low estimate of time > required to make repairs, and used labor rates that were less than half the > prevailing rates in the NE US. I then had to have every single charge over > and above the fictional estimate approved, which took weeks. And I had to > pay for storage while they were approving the new charges. > > > > They also made several accounting errors in calculating how much to > reimburse me, and it took several weeks to explain the errors to them and > have them corrected. The total payout in the end was nearly ten times what > they had first determined. > > > > I went with them because last winter I sailed to the Bahamas, and their > policy with additional Bahamas coverage was not very expensive. But given > that they do have any restrictions on what season one sails in the Bahamas, > I expect their rates are going to go up dramatically. (Funny how insurance > companies adjust premia to reflect past losses, rather than pricing risk as > they are supposed to). > > > > I am extremely unhappy with BoatUS/Geico. I’d welcome referrals to > companies that will insure a boat built in 1981 for offshore sailing, or > referrals to brokers that can find good underwriters. > > > > David Spiro > > SV Hidden Hand > > City Island, NY > > > > -----Original Message----- > You'll want to look very closely for issues related to depreciation.? If > you have a policy in PDF format, you can do a search on words like > "depreciate" "depreciation" and 20%" and you should find it.? > > > > Bruce Whitmore > > > _______________________________________________ > > Thanks everyone for supporting this list with your contributions. Each > and every one is greatly appreciated. If you want to support the list - > use PayPal to send contribution -- https://www.paypal.me/stumurray > > -- Joel 301 541 8551
_______________________________________________ Thanks everyone for supporting this list with your contributions. Each and every one is greatly appreciated. If you want to support the list - use PayPal to send contribution -- https://www.paypal.me/stumurray
