Page 65 - 2017 LAKE ST CLAIR GUIDE
P. 65
Cont. from Page 64 .....Do you have ance will pay the salvage company first net for unlimited service, otherwise you
coverage for “consequential damage?”
As an example, we had a couple visiting and you still owe $5,000. Now the worst will have to pay the full amount when
us and a storm blew up overnight. Their
bilge pump was not working and their part... if your boat is damaged, towed and try to recover the
boat sunk - engine underwater - at the
dock. They called their insurance and there is no money left from the Tow boat cost from your insurance on
the boat was not covered. insurance to fix your boat. Ask your own. But remember, this
According to one major insur- your agent how your policy han- operators on type of insurance does not cov-
er I contacted, unless you have “con- dles this situation. Lake St. Clair er salvage or if your boat is tak-
sequential damage coverage”, if your So whoever your in- average over ing on water... that is covered
boat sinks from just about any reason surance is with, you need to under your hull insurance,
- except a fire - it is not covered! ask if you have enough - or 100 calls a So...! I was reminded
How much does it cost for a tow? week!
Depending on many factors, including
weather conditions, the size of your boat, any - coverage for towing - by our friendly Randy at Farm
is it after dusk.... Generally speaking, you
can expect to pay $200+ and hour, and salvage - storage - repair. Bureau (pg. 76 if you want to chat with
the clock starts when the tow company
leaves their location - an average tow And, if you or your boat are not him since he is well read on the sub-
could cost you $750-$1000.
Who pays for salvage? always reliable, it’s nice to have a spe- ject) that boat insurance isn’t to fix your
Let’s say you hit grassy island
entering the North Channel... cialty low cost unlimited on-water towing boat, but covers a multitude of more
we have witnessed that hap-
pen several times. The sal- plan such as Tow BoatUS above or Sign serious situations that hopefully we will
vage company will come out
with a tug and dredger to dig & Glide page 6 which covers many sit- never need.
a channel to get in there, have
a dive team, clean up the en- uations; towing of course, but will also Sometimes bad things happen
vironmental pollution, use a
crain to lift you out. This could cover if you should run out of fuel, your to good people so think about adding a
cost you $20,000...$30,000+!
battery should die, or your boat just low cost safety net if you haven’t done so
Now the important part we
don’t read until we need it.... won’t start. A very inexpensive safety already.
Under some policies, salvage
is covered under the Boat Hull Boat hoist fails....
& Equipment Repair section. If Boat stuck!...
your boat is only worth $15,000
and the salvage company Two days to salvage,
charges $20,000, your insur- towed & stored:
- $14,000 -
Do you have
insurance for this?
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