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Insurance Question

Discussion in 'General Yachting Discussion' started by BLouder, Jan 24, 2012.

  1. BLouder

    BLouder New Member

    Joined:
    Jan 18, 2010
    Messages:
    30
    Location:
    Sacramento CA
    I had a storm that basically destroyed my canvas and eisinglass. If I call my insurance company is this claim going to make my rates go up? I'm insured through Progressive.

    Thanks
  2. Capt J

    Capt J Senior Member

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    Location:
    Fort Lauderdale
    I'm not sure it will necessarily cause your rates to go up. How much is your deductible and how much does it cost to replace the canvas? It might not be enough to be worth the hassle of going through insurance.
  3. BLouder

    BLouder New Member

    Joined:
    Jan 18, 2010
    Messages:
    30
    Location:
    Sacramento CA
    Deductible is only either $750 or $500. I'm guessing canvas would be minimum $2k around here.
  4. Capt J

    Capt J Senior Member

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    Ask your agent if a claim would effect your premium.
  5. HIBANX

    HIBANX Member

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    Jun 24, 2007
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    Location:
    Daytona Beach, FL
    many policies exclude canvas and eisenglass...does yours specify that it is covered?
  6. BLouder

    BLouder New Member

    Joined:
    Jan 18, 2010
    Messages:
    30
    Location:
    Sacramento CA
    Not that I'm aware of, which probably equates to "not covered". Good info thanks
  7. jlplatts

    jlplatts Member

    Joined:
    Aug 6, 2010
    Messages:
    36
    Location:
    St. Pete FL
    Our insurance is with Progressive. We had an incident about a year ago when an engine cooling line sprang a leak. A bit of a long story, but let's say we were lucky and leaned a few lessons. In the process of learning the lessons we had about $7000 damage. Because we have been with Progressive for 7 years between this and our previous boat they waived the delectable. Six months later our policy renewed, no increase in premium. They covered the entire cost, were fast and pleasant to deal with. It is worth a call to check the coverage. Based on our experience I wouldn't worry about a premium hike because of the claim.