Last week we heard the horrible news regarding the fire at a well known boat restoration shop. Texx and I noted that it seems like most of the damage we hear about usually is not stuff that happens on the water… So we asked our gurus of such things.. Hagerty Marine Insurance. After all they are the final place that all mishaps are reported.. Follow the money I suppose..I know… after every event like this it seems like reminder time to sell something. BUT.. In this case its about being smart. Thinking of all the angles. You don’t have to turn into a Eor..You don’t have to look at everything and wonder if that’s whats going to get you.. You get to live the life of Pooh! Being an Eor is what insurance people do.. And no one does it better than hagerty marine insurance. So we invited Chris and Carla from Hagerty to comment on the topic. And below.. Is Chris’s wonderful statement. I could not have said…or spelled it better..
“It’s that old saying….the safest place to be is in the middle of the lake……Sure, there are lots of things that can happen when boating…actually out in the lake classic boating…..but we (Hagerty) have in some years, had as many claims on boats when they are not being used, as when they are in the middle of the lake. Storage buildings collapsing, trailering mishaps, heat damage, storms of every type, and yes….fires….some of these risks can be moderated. But others, like a million volts of lightning incinerating your $75k fresh bottom up restoration into a small pile of dust, are a little harder to plan or protect against. Yes, this will sound a lot like a insurance commercial…..If your boat is not being used and is stored in your garage or storage barn, do not make any assumption it is covered by your homeowners or even a contents endorsement. Most every standard market homeowners policy will specifically EXCLUDE boats as contents…just like a car. Some may offer limited coverage for small boat and motors but will not cover real boats.” Christopher Schmaltz, Hagerty Marine Insurance.
We also often hear that the boat is with a restorer or in commercial storage and the owner assumes it is covered by their insurance….are you sure??? Did you sign a contract? Did you read the hold harmless clause?? We have had boats in climate controlled buildings, loose power, go to 120 degrees and split in half. This year we have lost boats to floods, tornadoes, wind shear, snow load, fires, theft, and that was just over the weekend… So what can you do to protect your boat? See contact info below…
In the big picture, there are 17 less wood boats in the world….and that is a bummer!