Loaning your boat; insurance claims?

[MarylandMark]

Sy don't read any of this!!

So say you loan your boat to a friend. The friend hits a rogue wave, passenger tossed out and breaks their leg.

What happens to the boats owner?

 

[glassdave]

a huge huge mess. almost this exact thing happened to a very good friend of mine and it has been a year an a half of lawyers making money off it. Everyone involved had insurance of all kinds but none would take care of any claims till forced to do so. Ultimately it was the boat owners insurance that paid the injury claims and they are now going after everyone else's insurance and whatever else they can. It was a pretty cut and dry accident to. Friend one was driving fried two's boat (with friend two onboard) along with his wife and a few others. They came up on some very poorly and illegally marked fishing nets swerved to mis them sending one overboard and injuring one on board pretty good. Everyone had plenty of coverage for you name it but each insurance company did was point at the others for coverage. Injured persons health said its boat owners coverage, boat owners insurance says its your health coverages claim. Its was a huge huge mess that ended up with friend two owning the fishing company and tons of other BS that still isnt resolved. None of this was alcohol related, friend one was driving friend two's boat because he was more familiar with it and had just recently sold it to friend two (his bro in law by the way). Huge huge mess . . . .

 

[inbetween]

Maybe related, a couple of years ago we were going to borrow a boat for a weekend sea trial. Owner had no insurance on the boat (was just stored and not being used) so Beth called our agent and asked if we would be covered under our policy. The agent kinda just laughed at her and said the owner had to carry the insurance. Never did get to run the boat. It's still sitting unused and still for sale.

 

[Offshoredrillin]

"I wont sue you"...famous last words, and ironically the first words out of a guys mouth when he was drunk on my boat... I went and got an umbrella policy the next day.

 

[Chris]

I went and got an umbrella policy the next day.

This was a topic of a recent thread- many umbrellas are excluding "outside of normal circumstances" coverage. Owning a 40+ foot, 80 MPH "Cigarette" boat is definitely not typical.

Loaning a performance boat is a really bad idea and specifically excluded under many insurer's policies. I would get it in writing from my insurer- if I were ever nuts enough to consider it.

 

[Offshoredrillin]

mine specifically cites my boats, motorcycles and vehicles.

 

[JupiterSunsation]

Funny I won't loan my kid's 15 Whaler to anyone for this exact reason........I don't fear the loss of the boat (hell you can't sink a Whaler) but God forbid someone gets hurt/run over by the boat......

Now a 80++ mph step bottom boat would definitely be trouble......

 

[cigdaze]

My policy specifically states that I am the only authorized captain. If you want anyone else, you must list them ($). It's going to be a mess.

I suggest you read your policy. I doubt you'd be covered in the event of a loaning.

 

[MarylandMark]

Thanks!

I thought it may be a dumb move but checking in to it was for a good cause so that was the least I could do...

 

[sy goldberg]

insurance coverage for maryland mark

Hey Mark,I got you the cheap rate because no one is covered on your policy and the boat is not covered for use.:26::26::26:

 

[sy goldberg]

RE: Mark's question

MARK'S boat insurance policy is not a named operator policy and he could lend his boat and would still be covered by his boat policy.

 

[Slandrew]

Hey Mark,I got you the cheap rate because no one is covered on your policy and the boat is not covered for use.:26::26::26:

Recite the national anthem backwards in french and your covered!:driving::rofl::reddevil::lurk5:

 

[cigdaze]

MARK'S boat insurance policy is not a named operator policy and he could lend his boat and would still be covered by his boat policy.

Cool. Those CC guys get all the perks.
:dupe:

 

[mosi]

a huge huge mess. almost this exact thing happened to a very good friend of mine and it has been a year an a half of lawyers making money off it. Everyone involved had insurance of all kinds but none would take care of any claims till forced to do so. Ultimately it was the boat owners insurance that paid the injury claims and they are now going after everyone else's insurance and whatever else they can. It was a pretty cut and dry accident to.


(EDIT....DELETE)

Huge huge mess . . . .

Remember Dave....... Everyone had their boats insured in Ohio..........the accident happened in MICHIGAN water (NO FAULT ----Insurance State)

Makes a big difference in the way claims are handled :willy_nilly::cuss::icon_bs:

 

[glassdave]

Remember Dave....... Everyone had their boats insured in Ohio..........the accident happened in MICHIGAN water (NO FAULT ----Insurance State)

Makes a big difference in the way claims are handled :willy_nilly::cuss::icon_bs:

no fault applies to stuff other then auto? That one i did not hear. It was/is a mess.

 

[BradB]

Remember Dave....... Everyone had their boats insured in Ohio..........the accident happened in MICHIGAN water (NO FAULT ----Insurance State)

Makes a big difference in the way claims are handled :willy_nilly::cuss::icon_bs:

The Michigan no fault law has nothing to do with the way this is being handled.
The owner of the boat ins. wont pony up because he was not driving, so not at fault= no liability. the lawyers are going after the drivers ins. liability portion and then going after the owner of the netsfor the rest of the balence.
this is a unfortunate situation that has happened but I learned alot about what Ins. really covers. Unles there on the policy they have no coverage under the boat there driving. I was the one that got tossed out of the boat in this incident. going on two years and still going back and forth still no ins. wants to pay the bills.....

 

[MarylandMark]

Sy- the guy I was asking about has about 200000 more hours in a boat than I so I know he is more than safe but some times you being safe is not enough..

(just saying- I don't want an increase this next season!!)

 

[sy goldberg]

coverage

He is allowed to operate your boat because your policy does not have a named operator warrranty.Your policy is a "YACHT" policy not high performance.

 

[Ratickle]

Your policy is a "YACHT" policy not high performance.

So Mark was driving the 108' while his YACHT was loaned out. I knew it......:sifone:


Thanks for the info Sy.

 

[sy goldberg]

Mark driving ?

No ! He was serving drinks to the captain during the wake incident.:26::26: