Insurance . . .

I used Global for years and always considered a mechanical problem something that we'd self insure. We later passed on a few older boats because I didn't feel we could eat a pair of diesel replacements.

Since we've already have some thread creep, can somebody explain what types of mechanicals are covered by the other policies?
 
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Kameroo said:
I used Global for years and always considered a mechanical problem something that we'd self insure. We later passed on a few older boats because I didn't feel we could eat a pair of diesel replacements.

Since we've already have some thread creep, can somebody explain what types of mechanicals are covered by the other policies?
Click to expand...
The exclusion did not deal with coverage of a mechanical component by not paying for its repair. Rather, the exclusion eliminated coverage of losses incurred as a result of a mechanical failure. Kind of a fuzzy issue to get sorted.
 
After reading this thread I decided to call NBOA on my renewal. The agent said that the only carrier they write with that will insure vessels over 20 years old is Progressive. Progressive came in at $1500, my current carrier (BOAT/US Geico) is renewing at $877.
 
sbw1 said:
The exclusion did not deal with coverage of a mechanical component by not paying for its repair. Rather, the exclusion eliminated coverage of losses incurred as a result of a mechanical failure. Kind of a fuzzy issue to get sorted.
Click to expand...

Thanks, makes sense!
 
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