Page 64 - 2017 LAKE ST CLAIR GUIDE
P. 64
Don’t forget... as you’re heading Don’t Cut Corners
to your favorite swim spots, give while boating OR
yourself a good view before enter- on your insurance
ing the narrow cuts ... there are a
lot of boats & PWC’s using these
lanes with the higher water.
Are you under insured? Most ders both boaters at fault (purely an accept an Sheriff deems
likely, but you won’t know it accident) and Boat A has a serious under in- both boats at fault
until you need it. injury, then both could be ordered to sured boater
contribute toward a judgement. Doesn’t or PWC rider equally:
I’m not here to sell you insur- may hit you, 1. Boat insurance
ance, but to let you know that you may sound fair, however, it depends on how and you may policy is 1st payer
think you are covered, and you are re- need your 2. Both exhaust
ally not. BORING subject, but so im- good your lawyers are. own insur-
portant to understand since it can affect their own policy
you for the rest of your life... so I urge Randy from Farm Bureau said ance 3. If not enough -
you to read on to see some advice from to
local insurers so you know the right “industry data suggests $300,000 liabil- help you get sued
questions to ask when speaking with you 4. You pay the rest
your agent. out of your pocket
Part 1 - Liability pay for your own medical, lost
Who reads those 20 page policies? Not wages, vessel loss, etc.
many, including me until recent! One
extremely important overlooked area If you think you’re covered
is having high enough dollar “liability”
coverage. Even if you are NOT at fault, under your homeowners insur-
if someone hits you and is seriously in-
jured, you may still have to pay! Unbe- ance, check again. I was ad-
lievable, but true. There is no textbook
scenario once you get to court ... it is up vised it is not coverage for a
to the lawyers and judge.
I met with Randy McCoy, own- boat accident unless you have
er of Farm Bureau Insurance in New
Baltimore. He offered this scenario: a rider. Just like a car, boats
Boater A has boat insurance with and PWC’s should have
$100,000 liability and is found at fault
hitting Boater B. “boat” insurance, not house
Boat B - not at fault - has serious injury ity coverage should be the benchmark.” insurance (and it’s not expensive like
and is awarded $250,000 by the court.
And... for only a very small amount car insurance).
If Boat B is under insured, Boat A is
responsible for the court awarded dif- more, you can bump it to $500,000 Part 2 - Towing / Salvage
ference over their $100,000 policy cov- (only cost us $16 extra). Hospital costs
erage. are astronomical, so even this would We have three long time reputable
Confusing, but scary enough if be consumed quickly, so for better se-
it’s your fault. NOW... if the judge or- curity and a couple hundred or so, you companies on Lake St. Clair and the
can also add an umbrella policy which
Rivers to call, both Canadian and U.S.:
All of these companies monitor channel
covers home and car too for another $1 Canadian Coastal Services Pg. 3
million - A million isn’t what it used to
be - And, if you do have a substantial Michigan Marine Salvage Pg. 6
amount of liability insurance, your in- Tow BoatUS Pg. 65
surance company will represent you in 16 and are a phone call away 24 hours
court ... they don’t want to pay either! a day for us.
What happens if you don’t However, when it comes time
have that extra $100,000 the judge just where we unexpectedly need quick
awarded you to pay that guy who hit help, we are all surprised with what it
you? Well, they will garnish your wag- actually costs for the salvage/tow oper-
es, put a lien on your house.... you will ators ...and for us!
eventually pay. Who pays if your boat sinks?
In today’s reality, you have to Continued next page...
Page 64 The author, publisher, or seller assumes no liability with respect to the use of information contained herein
