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Insurance Question

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

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  1. BLouder, Jan 24, 2012
    #1
    BLouder

    BLouder New Member

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    Jan 18, 2010
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    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, Jan 24, 2012
    #2
    Capt J

    Capt J Senior Member

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    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, Jan 24, 2012
    #3
    BLouder

    BLouder New Member

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    Location:
    Sacramento CA
    Deductible is only either $750 or $500. I'm guessing canvas would be minimum $2k around here.
  4. Capt J, Jan 24, 2012
    #4
    Capt J

    Capt J Senior Member

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    Location:
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    Ask your agent if a claim would effect your premium.
  5. HIBANX, Jan 24, 2012
    #5
    HIBANX

    HIBANX Member

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    Location:
    Daytona Beach, FL
    many policies exclude canvas and eisenglass...does yours specify that it is covered?
  6. BLouder, Jan 24, 2012
    #6
    BLouder

    BLouder New Member

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    Location:
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    Not that I'm aware of, which probably equates to "not covered". Good info thanks
  7. jlplatts, Jan 24, 2012
    #7
    jlplatts

    jlplatts Member

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    Aug 6, 2010
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    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.