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Thread: Be aware! A possible BOATUS INSURANCE concern .

  1. #1
    Join Date
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    Be aware! A possible BOATUS INSURANCE concern .

    A friend received a "recent" insurance quote from BOATUS : but noticed contradictory wording that "Actually DELETES partial loss coverage." ( This can be defined as bait and switch tactic in many states. In any case, it is intended to hide substandard coverage. You may NOT be getting the coverage you think......
    CHECK YOUR POLICY for the hidden language related to the "depreciation paragraph".

    This depreciation clause may render your coverage for a PARTIAL loss to "O" if your boat is 20 years or older. It appears that any partial loss will NOT be covered as the boat owner expects.

    The policy coverage states the BOATUS obligation is ONLY valid for TOTAL losses. IT is NOT good or appears to be "O" coverage if a PARTIAL loss.
    EXAMPLE:
    A. Your $30,000. boat sinks or other total loss---you're covered.
    B. You have a $5,000 damage claim or any issue which is a partial loss, etc., ----You are NOT covered.
    BOATUS slips this exempt paragraph to deny payment under a rarely read section called DEPRECIATION.

    Another example: any 1980's to '90 or earlier Tolly that is insured by BOATUS, does not appear to have ANY PARTIAL loss coverage because it is beyond the preset depreciation terms ---that very few know about.
    ONLY after the Tolly boat owner directly asked the BOATUS rep. to explain the troubling remote paragraph appearing to void partial coverage did the rep . say YES, you have no coverage. When asked if this is a bait and switch tactic--no response.

    RECOMMENDATION:
    A. READ YOUR BOATUS policy. You may not have the coverage you thought you had.
    B. I would value any party conversant with insurance issues review this and provide any professional insight on this subject.
    Thank you, Steve Kraus
    Last edited by steve kraus; 02-15-2019 at 09:04 AM.

  2. #2
    Join Date
    Mar 2006
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    Ojai,california
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    Is it an insurance scam??

    Of the 150+ visitors, HAS ANYBODY REVIEWED AND SHARE CONCERN FOR THE BOATUS "WEASLE" CLAUSE THAT PERMITS THEM TO DENY ALL NONE FULL-LOSE CLAIMS BASED UPON DEPRECIATION?
    Steve

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