So I just received our annual BoatUS renewal letter and sat down to cut them a check.
I glanced over the policy and noticed that our "agreed on" value was lowered (!) 20% from what I remembered it to be. No explanation or reason.
A look through my insurance file revealed that this had been done to us only last year.
And I had paid it, just in the nick of time, having been cruising in Canada some of the summer.
I never noticed the change. And there was no explanation of it on that policy, either.
(All the other prior years were for the amount they agreed to when they wrote the insurance.)
So, I called and was told that someone higher up would have to contact me tomorrow by phone to discuss "raising" the value of the boat. I pointed out that, absent any negotiation, there could not be a reduction in the AGREED ON value in the first place.
Lady on the phone got a bit sarcastic with me and explained that since I had paid it last season I was stuck.
And...... that the BUC book value on our model boat is about half their assigned value anyway. I pointed out the BUC numbers are meaningless for low production and low market information boats. She was not interested. I also pointed out that you could buy about any brand or model of boat for a fraction of it's turn-key price, and this does not change the hourly cost of yard time to repair a boat. She got irritated. No bad words were exchanged, but I was not getting any sort of measured or nuanced reply that a long time customer would seem to warrant.
So, it will be interesting to see what they say tomorrow.
To me, this policy change was fraudulent from the git-go.
**I suppose that I could just mail them a letter proclaiming that my coverage is now changed to $100K at the same premium, and if they do not contest my letter within ten days, it will stand as "agreed on", by their own definition of the phrase.
If you have a policy with this company, you might want to look over you recent renewals and declarations pages.
Regards,
Loren
I glanced over the policy and noticed that our "agreed on" value was lowered (!) 20% from what I remembered it to be. No explanation or reason.
A look through my insurance file revealed that this had been done to us only last year.
And I had paid it, just in the nick of time, having been cruising in Canada some of the summer.
I never noticed the change. And there was no explanation of it on that policy, either.
(All the other prior years were for the amount they agreed to when they wrote the insurance.)
So, I called and was told that someone higher up would have to contact me tomorrow by phone to discuss "raising" the value of the boat. I pointed out that, absent any negotiation, there could not be a reduction in the AGREED ON value in the first place.
Lady on the phone got a bit sarcastic with me and explained that since I had paid it last season I was stuck.
And...... that the BUC book value on our model boat is about half their assigned value anyway. I pointed out the BUC numbers are meaningless for low production and low market information boats. She was not interested. I also pointed out that you could buy about any brand or model of boat for a fraction of it's turn-key price, and this does not change the hourly cost of yard time to repair a boat. She got irritated. No bad words were exchanged, but I was not getting any sort of measured or nuanced reply that a long time customer would seem to warrant.
So, it will be interesting to see what they say tomorrow.
To me, this policy change was fraudulent from the git-go.
**I suppose that I could just mail them a letter proclaiming that my coverage is now changed to $100K at the same premium, and if they do not contest my letter within ten days, it will stand as "agreed on", by their own definition of the phrase.
If you have a policy with this company, you might want to look over you recent renewals and declarations pages.
Regards,
Loren
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