Talk about a bad weekend on the lake

[sparky216]

Right now I have a forced policy my bank

I just cannot believe that your insurance lapsed.....don't they send out annual statments? I always know that my boat insurance is due in May. My TOTAL insurance bill for my boat is only 375.00 a year. Man that sucks

[Tip]

I feel for you dude, you definitely have my sympathy.

One of the guys who works with me hit a rock in his MB two weeks ago on the Columbia River. Just like you, the boat started taking on water, and he had his wife and two kids on board. His rudder was completely ripped off. Fortunately, there was another wakeboard boat out there that towed them back to the boat ramp about two miles away. He was able to keep his boat from sinking because the other boat had a fat sac pump that was able to pump the water out till he got it on the trailer.

I've towed several boats that were in need and I always stop if someone looks like they need help. It pains me to think that there are people like the yellow Supra guy.

[ttu108]

sandmoose, i am sorry for the situation that you are in.

i have been in the insurance business for 10+ years. 4 of them as a claims adjuster and the last 9 as a agent. Most states allow what is called a 10 day mail in period, not a grace period. They are virtually the same thing just worded different.

how long had the policy been in laspe status? it had to have been in laspe status long enough for the bank to put "forced" insurance on the boat. also "forced" insurance only pays the amt of what is owed on the boat and not any equity back to you.

most insurance companies will send the intitial premium notice and when the policy is lapsed over the 10th day they will send another notice and when that notice is sent is when the bank is notified.

if you have any questions, feel free to shoot them to me.

db

[wrangler]

Sandmoose...I too joint the chorus of regrets for your situation. I am so sorry this all happened to you... Good luck on the aftermath...hope it starts to all straighten out... wrangler

[chpthril]

Originally posted by ttu108
sandmoose, i am sorry for the situation that you are in.

i have been in the insurance business for 10+ years. 4 of them as a claims adjuster and the last 9 as a agent. Most states allow what is called a 10 day mail in period, not a grace period. They are virtually the same thing just worded different.

how long had the policy been in laspe status? it had to have been in laspe status long enough for the bank to put "forced" insurance on the boat. also "forced" insurance only pays the amt of what is owed on the boat and not any equity back to you.

most insurance companies will send the intitial premium notice and when the policy is lapsed over the 10th day they will send another notice and when that notice is sent is when the bank is notified.

if you have any questions, feel free to shoot them to me.

db

That is true, except at RENEWAL. If the premium is not recieved after the RENEWAL NOTICE is sent out, the insurance co assumes that you have taken your business elsewhere. This is considered to be a 'non-renewal', instead of a 'laps in coverage' as when the premium is not recived with in the policy period.

[Domsz06]

I'm sorry to hear that!! I know I have pulled more boats in then I can count. I just hope that the one time I Need to get pulled in that someone is as nice to me.

The last time I pulled someone in, they kept asking us to turn the music up louder, they were jamming and dancing up a storm as I pulled them in. It was so funny.

That guy in the yellow boat will have his day, just hope that your not the boat that has to pull him in.

Lake etiquite, gotta help when you can, and hope that when it's your turn, you get the help.

I wrapped a rope around my prop this summer, and didn't have one person offer to help us swim her in. I'll still help people, just can't let another person sit and float, I know I hate it when it's me!!

[spharis]

Probably not what you want to hear, but if it is not totaled, and you do not want to mess with repairs, what are going to do?

I think you have an instrument, a tower, and a bimini I would take a chance on if you wanted to part out to recoup some cost.

[Sandmoose]

I am waiting to see what the adjuster says for the forced policy. He should look at it early next week. It looks like something will be covered. I have the feeling they will fix it since the value is still around 40K. The boat shop, thankfully, is pricing everything new and not rebuilt. I have been told by many people that when an engine goes totally under(especially overnight) it will never be the same. This guy plans on replacing all the electronics, guages and engine. Then repair the fiberglass and tower. Looks like the seats were ok after he dried them out. He guesses the repair will be in the 25K-30K range.

[Sandmoose]

latest update

Here is the latest. There is some good news after all. The insurance will cover the repair. I spoke to the dealer today. He received the engine which is a 2006 PCM Zr6 brand new off the assembly line in Columbus Ohio. He is waiting for the gauges still. It looks like the rest of the parts are on the way. Sounds like I will have mostly 06 parts in my 04 boat. I still have a lot of $$$ out of pocket thanks to my insurance agent

I will attach pics when they start working on it.

[chpthril]

Glad to hear that you are seeing some daylight in all this. I hope it all works out.

[Sandmoose]

Thanks man

[Matt Garcia]

Originally posted by chpthril
Glad to hear that you are seeing some daylight in all this. I hope it all works out.

Same here. Keep us updated.

[Tequilasun]

Sandmoose.

I am so sorry for you loss. Your pictures actually caused me to feel ill.

I am glad a least a portion of it is getting taken care of. Please keep us updated.

[dogbert]

Bummer about the loss, dude! My state farm insurance looks pretty good right now. I recently had my shaft, strut, rudder and prop replaced, no questions asked. Of course, my agent was on my boat when it happened. Since he's my neighbor at the lake, we get a lot of benefit of the doubt type adjusting when bad things happen.

[Sandmoose]

That is a good neighbor/friend to have. I am hoping this will be a brand new boat (practically).