Back to the main site

Insurance Question

Good advice.  I quadrupled our sump coverage recently.  I don't remember what the cost adder was, but I'm thinking it was in the $10 per year range to go from $5k to $20k.
 
Last edited by a moderator:
kaydano said:
Good advice.  I quadrupled our sump coverage recently.  I don't remember what the cost adder was, but I'm thinking it was in the $10 per year range to go from $5k to $20k.
Click to expand...
Good investment and cheap upfront. There is a lot of misinformation out there on what is really covered, so like always, read it carefully or talk to the underwriter. For example, suppose the check valve fitting or clamp blows off above it, merrily pumping hundreds of gallons right into your basement. It's not usually covered. They cover the pump, but not necessarily the whole system.

A few years ago we had a catastrophic flood in our basement due to a failed pump. We were away on vacation, so the backup pump battery also discharged after a few hours. $40k+ in damage to our finished basement and contents (my high end audio gear). It adds up fast. State Farm covered the whole thing, but it was only because our policy was grandfathered. New policies were, I think, limited to $20k. As it turned out, the failed primary pump was within its 3 year warranty period. State Farm took the pump, had it analyzed by a forensic lab, sued the manufacturer, and won. They got all their money back, plus our deductible was paid back to us. It was a long PAINFUL process, but my adjuster was great to work with.

If any one has the misfortune to experience this, I can help with advice. As a result, I am also completely schooled on bulletproof pump systems (triple redundancy) and various strategies for managing unwelcome water.
 
highpond said:
If while filling you tank on the water you spill some, how long does the spill take to dissipate Second, to disperse gas spill the best way is DAWN dish soap.
Click to expand...
It's also highly illegal!!!! Do not use soap!

The Clean Water Act (33 CFR 153.305) also prohibits the use of soaps or other dispersing agents to dissipate oil on the water or in the bilge without the permission of the Coast Guard. Soaps, emulsifiers and dispersants cause the petroleum to sink in the water column and mix with sediments where they will remain for years. Also, the soaps themselves are pollutants. You may be fined up to $25,000 per incident for the unauthorized use of soap or other dispersing agents on the water or in the bilge.
 
In the case of a small spill what should you do to minimize the damage?
 
From what I've seen from watching COPS. If you are caught just lie.

Good question Link. I'd be more worried about my PWC than the boat. I've never had my benny upside down in the lake (and don't intend to). The ski has 2 stroke oil that could leak etc if rolled over, takes on water.
 
I use the super siphon to fill my boat and seadoos.  One time I did have the super siphon come out of the seadoo fill hole.  Didn't spill a lot but some did go into water.  I hightailed it and grabbed some dish detergent to dissipate.  Although I now see that is also wrong but wondered is it the lesser of two evils?

Or I could just be more careful and try not to be an idiot
 
I had an old jet boat with a stuck float that caused flooding while cranking. You could see fuel coming out of the exhaust in the water. So what are you suppose to do when there is a small spill?
 
The law actually states that anytime a sheen is present on the water's surface, you are to contact the Coast Guard for assistance in cleanup.

Though, how many people would actually do that and take their $5,000 fine like a man?

Oil absorbant pads are what are used around the gas docks nowadays. The are stretched out on a pole and clean up the sheen.

"Because of the harm associated with petroleum, the discharge of oil is absolutely prohibited. The Federal Water Pollution Control Act prohibits the discharge of oil or oily waste into or upon the navigable waters of the United States or the waters of the contiguous zone if such discharge causes a film or sheen upon, or discoloration of, the surface of the water, or causes a sludge or emulsion beneath the surface of the water. Violators are subject to a penalty of $5,000.

The United States Coast Guard must be notified anytime a spill produces a sheen on the water. Call the National Response Center at 1-800-424-8802. Report the location, source, size, color, substance, and time of the spill. Failure to report a spill may result in fines."

http://www.boatsafe.com/nauticalknowhow/clean_boating.htm
 
Thanks Spinzone but I am asking what to do if I spill 4 - 8 ounces of Gas. What would be the proper thing to do to lessen the damage, would you use Dawn or something else?
 
I'd try to find something else to use.

Boat US did a thorough test on marine absorbers and rated the most effective. They are designed to repel water and absorb petroleum products.

http://www.boatus.org/findings/53/

I wish I had a better answer for you. I always fill up on land or allow the marina to fill for me. That way they're responsible for the spill.
 
Last edited by a moderator:
Full throttle 360s???
 
Thanks Spinzone.  I read the entire article, The Enviro-Bond 403 Bilge Sock seems to be the way to go and it certainly is affordable at $16.95.  It is a single use product and not sure what it takes to dispose.  That would be another issue.  I was kind of hoping the answer was a spray bottle of dawn.  Not sure what to do but now that I know the correct answer I think my conscience will force me into ordering one and now I have more to store on board in my already overcrowded storage.  Damn you Spin <_<
 
Small spill...  Keep a box of tampons on board.
 
kaydano said:
Small spill...  Keep a box of tampons on board.
Click to expand...
Expounding on your thought process. Just Stick super absorbant pads on the toons.
 
Great discussion about sump pump insurance. I pay an extra premium because our basement is finished and we have a shit ton of ground water (pump runs year-round). The policy makes a distinction between water. I'll have to look it up, but they distinguish between sewer back up, outside storm water coming inside and domestic water leaks (from broken pipes, etc.) Thanks for the reminder to review my existing policy.
 
Plumbing supply leak- your coverage A limit applies. When I was an adjuster if it was on site water that went down the drain, was blocked and came back up, we handled as onsite water and coverage A limit applied. It was easy to determine if this occurred based on the amount of water damage. One shower will not fill an average home's basement with a foot of water. Water backing up from the floor drains, sump needed a sump endorsement. Seepage through the foundation walls, cracks in the floor from hydraulic pressure- no coverage. Once water touches the ground and comes in....not good. Hope this helps but as always, consult your licensed insurance agent for specifics surrounding your policy.
 
lakeliving said:
Plumbing supply leak- your coverage A limit applies. When I was an adjuster if it was on site water that went down the drain, was blocked and came back up, we handled as onsite water and coverage A limit applied. It was easy to determine if this occurred based on the amount of water damage. One shower will not fill an average home's basement with a foot of water. Water backing up from the floor drains, sump needed a sump endorsement. Seepage through the foundation walls, cracks in the floor from hydraulic pressure- no coverage. Once water touches the ground and comes in....not good. Hope this helps but as always, consult your licensed insurance agent for specifics surrounding your policy.
Click to expand...
My single floor drain flows to the sump crock which is also fed by exterior perimeter tiling that is also tied into the crock. Not sure how this would be handled...... and I hope to hell I never have to find out.

Mostly I know that insurance is not there to protect my property but that in the long run, it's all about the ins. company covering their fanny.
 
Easy now!!! Remember that insurance is not a maintenance policy. The intent is to cover most sudden and accidental losses. I say most because there are some perils not commonly insured- flood for instance-earthquake. There are some other exclusions as well such as wear and tear, design/installation defects. I will get some heat for this but the company I use to work for was too generous. Here is an example of how a claim can go two ways. Homeowner has a home with organic mat shingles from the 90's (Look them up-terrible product with class action lawsuits) they deteriorate to the point they should have been replaced 5 years ago.

1. Insured claims there was storm damage to the shingles . The adjuster inspects and only finds pieces of flaking shingles in the gutters or downspout discharge, no impact (hail) or missing shingles. There is actually no sudden or accidental damage just the result of wear and tear typical of that product. (-No Coverage-)

2. A storm comes though and blows a couple tabs off and lets some water in damaging some drywall. So what occurred here, we had wind "damage" (a covered peril-wind is a sudden event) to the roof by removing some tabs and creating an access point for the water. Your typical homeowners policy owes to repair or replace the damages. The problem is the roof is in such poor condition the damaged shingles cannot be laced in due to the surrounding shingles are crumbling. Thus the homeowner gets a new roof and the interior repaired for only their $500 or $1000 deductible. The rest of the policy holders just picked up the rest of the bill via a rate increase at renewal. Guess how many homeowners and contractors know how the system works.....It drives me crazy. (I never realized home many people don’t maintain their homes until I was a property adjuster. And I didn’t come to this realization from my daily work, I got into a habit if looking at homes just while driving to the grocery store. Unfortunately I’ve seen example 2 a million times personally, and I bet many of you might have experienced this personally or know of someone who has. It is in my opinion a sad story. When my roof wore out I bit the bullet and paid for a new one to be installed. It is called homeowner ship!!! I even cut some trees down by the lakeshore to eliminate the possibility of one falling on the boat/lift. And I paid some good money to do so. More than my deductible would have been for a loss that is for sure.

In my years of claims adjusting I had many more covered claims vs denials.

I think many of you would be shocked at what is involved with insurance. There is more to it than your seemingly always increasing premium and a yearly stack or papers come renewal. There is a vast amount of hardworking claims/underwriting/agents who do their best to ensure that if a claim event arrises, it is a covered event, and the right amount is paid for that loss.

Unfortunately- many see the insurance company and its representatives carrying company checks as ATM machines with deep pockets. At times claims adjusting felt like 20 hands reaching in my pocket for my wallet. I always spent the company’s money as if it were my own so I never paid for non-covered losses or paid extra because it was the easy route. An insurance policy is a legal binding contract.

I ultimately left claims adjusting and now work for an Energy Utility company as an insurance analyst reviewing insurance placements and ensuring our insurance programs are providing the coverage’s, deductibles and terms that fit our risk appetite. No more arguing with roofers over what is actually hail for this guy. Cozy cubicle life where the phone never rings is a nice change up!!

And one last comment before I conclude my longest post ever. Claims adjusters are not paid for how many claims they deny. I was paid a salary and I received that salary whether I paid a 100 claims of denied a 100 claims.
 
Last edited by a moderator:
You must log in or register to reply here.
Back
Top