Logan Martin Lake Topics: Boat Insurance (again)

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	Name:	alabamaangler -
	Subject:	Boat Insurance (again)
	Date:	2/2/2010 10:26:12 PM

let me weigh in (no pun intended) on this issue and question.

My employment and profession is a Claims Adjuster, not for a marine insurance company but another specific niche market segment. I have investigated, handled, settled, and defended many kinds of insurance claims for over 20 years and I can tell you that there are some wolves out there in sheepskins. Be careful.

When evaluating insurance coverage, the premium cost should be a small component of the equation. While the "sales force" or "marketing department" may "sell" a policy, it is the Claims Department that delivers the promise that is sold with each policy. If the Claims Department of an insurance company does not place good faith and fair claims handling practices at the core of its operation, what benefit will a "cheaper" premium bring you? You buy insurance coverage in anticpation of a claim, right? Wouldn't you want the best claims service you can get, if and when (hopefully not) that occurs?

I will sum it up here like most other industries.....you get what you pay for. Exercise due diligence - not just with the up front premium cost, but more importantly with the delivery of the promise and sold with each policy. Is the insurance company gonna "do right", or not?