Insurance Question.....Maybe just Ontario, or Canada folks?

Dream_Inn

Well, I have Global Marine (I believe it's thru AIG) and they replaced my outdrive with a complete new OEM.  I've been extremely happy with them and unfortunately have had two claims thru them.

I guess the question about over 10 years, really does not make much sense for parts.  As others have said, for total loss it makes more sense.  When I put replacement parts on my boat, I go new.  I would hope the insurance would too.  I'll have to look and see if mine says anything about being a certain age.

MarkB

My insurance is with NautiMAX.  Good rates, and no depreciation.

Michael T

@BMXZ, make sure to check  the third party liability too.  In Canada you should have  2 million or more and check the print on extra drivers who are covered. 

BellevilleMXZ

nhsd said:

I would think it difficult to pay "depreciated value" for a repair. Certainly they pay book value for a used boat if it is totaled - and use book value to determine if totaled, but a repair should be covered I would think. I had a 12 year old boat that I busted up the outdrive on. My insurance, Progressive, paid the full repair bill (less deductible of course). Now they did get a remanufactured drive casing and reuse my existing gears (since I did not damage them), but still paid full cost and returned to me a boat in as good (actually better) condition than it was in before the accident - which is what you buy insurance for.

As I understand it, there is no used available around here. He is trying to find maybe a rebuilt unit. Seems weird they way they work....They just cut him a check for the repair cost(based on new parts) minus 25% and the deductible, and its his responsibility to deal with it at the dealer to get it fixed. Sure seems different than the auto industry ins. which  I'm used too.  I'll tell ya one thing, after hearing his story I'm going to shop around and try and find something better. I sure don't have 4 or 5 grand laying around if I ever had an issue. 

mattie

Funny, I never really thought about using insurance for replacing damaged outdrives, etc. I've always paid the annual premiums. Assuming it's designed for catastrophic stuff like sinking, fire, stolen, vandalism, some sort of natural disaster....

Just figured if I trashed something mechanical - it was my dime.

Only boat insurance issue was when I was a kid & my dads Sea Ray was new it got hit by a hailstorm. Bunch of stuff got replaced by the ins co. That was 1,000 years ago.

Good to know, better read the policy.

Michael T

, @BMXZ,  how soon do you need specific info?  I'm in Phoenix  for 10 more days.  When we get back home can send some special specific information for Ontario. 

nhsd

mattie said:

Funny, I never really thought about using insurance for replacing damaged outdrives, etc. I've always paid the annual premiums. Assuming it's designed for catastrophic stuff like sinking, fire, stolen, vandalism, some sort of natural disaster....

Just figured if I trashed something mechanical - it was my dime.

Only boat insurance issue was when I was a kid & my dads Sea Ray was new it got hit by a hailstorm. Bunch of stuff got replaced by the ins co. That was 1,000 years ago.

Good to know, better read the policy.

I guess it depends on how the item was "trashed". If it broke in use, then you are normally correct - no coverage. If it broke as a result of a covered accident, then covered. In my case I hit a log in the river, ripping the outdrive off of the back of the boat. It was hanging by the control cables and hydraulic lines. bent the prop, the lower unit housing, transom assembly, gimbal ring, bell housing, etc. Progressive paid for new control cables, steering cables, gimbal ring, bell housing, boots, starter (which was flooded with all of the water that came in), etc. but a remanufactured lower unit housing and transom assembly. They had the prop reworked, they flushed the engine, changed the oil twice and other misc. things related to the accident. As I said, they returned to me a boat as good as or better than it was before the accident. That is all that I can ask. I wouldn't expect them to give me new when there is perfectly good remanufactured items available that meet or exceed what I had previous to the accident. Now if it had been a new or relatively new boat, my expectations might have been a bit higher and I might have questioned the remanufactured parts.

BellevilleMXZ

Michael T said:

, @BMXZ,  how soon do you need specific info?  I'm in Phoenix  for 10 more days.  When we get back home can send some special specific information for Ontario. 

No rush at all, his issue just got me wondering :-)

TonyWalker

List of stuff to make the Salt Shaker perfect once again.

 

Fix cabin heater/AC

 

Generator will not start

 

Clean strainer in the shower sump pump

 

The AC outlet in the head is coming apart.

 

The battery charger quit working

 

The air horns/compressor is inop

 

Wire electric horn to a switch.  It was disconnected when the air horns were installed.

 

Grease the props.

 

Change the oil in the engines and generator

 

Fix the metal trim piece that goes around the swim deck.

 

One of the nav lights is burned out.

 

Replace the impellers.

 

I will get her back plus a bill next week.

bella-vita

It never ends lol, but it's well worth it.

jaubry

MD marine is a broker for Aviva/Nautimax. Jennifer Eaton is awesome to deal with.

MarkB

jaubry said:

MD marine is a broker for Aviva/Nautimax. Jennifer Eaton is awesome to deal with.

Agreed Jennifer is the real deal. I've used them for 5 years now, and she is very good.

Michael T

I may be paying too much and will give her a call. 

MarkB

Jennifer Eaton R.I.B.O.

Account Executive

 

Tel:  705 325 4461

Fax: 705 325 9974

Toll: 877 627 4633

390 Laclie Street, P.O. Box 308

Orillia ON L3V 6J6

Michael T

Thanks  Mark! 

luckydog

Let’s ask Ted Cruz I heard he’s Canadian he might know of a good insurance co LOL, Sorry to all members I just couldn’t help myself

Michael T

I'd be more inclined to ask Donald Trump who he'd recommend. :-)