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Thread: Boat Insurance for Natural Disasters?

  1. #1
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    Default Boat Insurance for Natural Disasters?

    I have been keeping track of the Tsunami kicked up by the earthquake in Japan. What a mess it made over there. It looks like Shemya got 5 foot surge and Attu only 1.5 foot. It could have been worse.
    IF it were bigger and Seward, Whittier, Valdez got hit by a good big surge I wonder how many boats, docks, etc would be damaged or lost? Even worse if it happened during June, July, August. It got me wondering about my boat insurance. If my boat were in a slip or even on the trailer at Valdez and a big surge hit would it be covered? Do most policies exclude little things like earthquakes and tsunami's? Just got my curiousity going. Any body know what the boat insurance standard is? I know alot of insurance companies paid out and others played alot of games down in the gulf after the last couple hurricanes. Are their any companies that are worse about natural disasters? Something to consider and ask before getting burned. I have alot of money tied up in that danged hole in the water.

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    Supporting Member Old John's Avatar
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    Best person to answer your questions would be the agent that sold you the policy... There is a tremendous difference between insurance policies on commercial boats as opposed to insurance on recreational boats..../John

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    Member G3_Guy's Avatar
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    As OJ said, the best person to speak to is the agent you bought or are buying the policy from. I'm an Insurance agent myself in the lower 48 and there are many different types of boat policies and individual coverages available to boat owners. I do not specialize in nor do I sell a lot of boat policies so I'm probably not the best resource, but there are a lot of specialized carriers out there which offer some great policies. Depending on what type of policy was written and the coverages included in the policy, your boat could be covered in situations like the Tsunami. The problem lies in that each company (Progressive, Safeco, Allstate, etc) may focus on and sell different types of boat policies, so depending on the carrier and what they typically write, you may or may not have coverage for a specific situation. Apologies for rambling but I hope that make sense.
    G3 Guy
    "...with God all things are possible." - Mark 10:27

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    Member JOAT's Avatar
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    Quote Originally Posted by Tealer View Post
    IF it were bigger and Seward, Whittier, Valdez got hit by a good big surge I wonder how many boats, docks, etc would be damaged or lost?
    If you transpose the Japan tsunami over Valdez, all the boats in the harbor will be up on Valdez glacier when it's over. The "damage" would be "total". There's no big, flat, open area for the water to spread out like it did in Japan. It will pile up against the mountains, getting squeezed in along the way, and it would erase "new town" and "old town" from the map... again. Think of a wave hitting the end of a bathtub; and then it would turn around and go the other way.
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    Member fullbush's Avatar
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    Quote Originally Posted by JOAT View Post
    If you transpose the Japan tsunami over Valdez, all the boats in the harbor will be up on Valdez glacier when it's over. The "damage" would be "total". There's no big, flat, open area for the water to spread out like it did in Japan. It will pile up against the mountains, getting squeezed in along the way, and it would erase "new town" and "old town" from the map... again. Think of a wave hitting the end of a bathtub; and then it would turn around and go the other way.
    Which is exactly why us Cordovans were dead set about putting the oil terminal in Valdez dammit! I say we should have put the dang thing in western Alaska at least we could contain the disaster in the Bering Sea. course if I was a BB gillnetter I might sing a different tune but I'm not...





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    Member ADUKHNT's Avatar
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    Back in 2005 I lived in Biloxi, MS and I bought a Robalo 24 ft walkaround in June. Well August rolled around and there came that little rain shower named Katrina. Katrina pushed an estimated 27ft storm surge up the back bay of Biloxi. Ya see we actually got hit by Katrina unlike New Orleans. Biloxi looked exactly like you are seeing Japan now looks like. Long story short my boat was insured through USAA and I had an adjuster out within a couple weeks(fast for most companies post Katrina) and they paid quick too. My boat was not a total loss and once I got an electronics tech to look at my boat he found damage the adjuster did not. I sent the estimate from the ET to USAA and had a second check in my mail box witin five days. Great service.

    I learned from Katrina make sure you look into insurance companies before signing a policy. There is at least one major company out there well know for refusing to pay claims after natural disaters. This company still has pending law suits from tornados 10 yrs ago and lord knows how long they will stay in courts to keep people damaged by Katrina from getting the money they are owed. Big company with TV ads going all of the time.
    I have such a hard time trying to decide which outdoor activity to do every chance I get!! Living in AK is a mental challenge

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    Makes me feel good since I just signed up with USAA last evening. To read this today verified what they said. Thanks ADUKHUNT someone who's been through it and been there done that.

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