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Published: Tuesday, Mar. 23, 2010 / Updated: Tuesday, Mar. 23, 2010 03:34 PM

Matt Sellhorst: Final questions to ask before boat season launches

The last two weeks, we’ve talked more about boat insurance than you’ve probably thought about since you bought your first boat. But, I know over the boating season someone will be caught off guard by the lack of coverage.

Here are the last two items to review that are not in the fine print but may require a phone call to your insurance agent and possibly a competitor or two. Ask the questions listed below in those conversations, then it’s your job to determine: Is it a sales pitch or is it a true sales pitch?

Speed of Claims. As boaters, when the weather is nice and we have time to hit the water, we don’t want anything to stand in our way. Especially, the slow response of your insurance adjusters to approve a claim on your boat.

Many insurance agencies will use the auto claims work flow and require an adjuster to review your marine mechanics estimate for work to be done on your boat if a claim is filed. This could add weeks to the time your boat is inoperable. Then, once approved, how long before the service shop is able to order parts and complete the work because they are concerned the insurance company won’t make final payment without a big hassle.

Well, some insurance companies handle claims of a certain level a little different. Some will honor a Certified Mechanics estimate and cut a check within days without an adjusters review if the repairs are under a certain amount. When I talked with the president of one marine insurance company, he told me his company’s limit was $15,000.

If they handle the claim in that manner, it should cut weeks off the time it takes to have you back on the water enjoying your boat. And, isn’t that the point of being a Carolina Boater anyway?

Can you lower your premiums and increase coverage? Now that you know all five points to ask about, call your current insurance provider and ask them if they cover each and every situation and how they do it. You may be surprised that you are not as well covered as you could be for about the same amount of money.

So, call your provider and other marine insurance specialist and ask them these questions:

1. Does my policy have an agreed value or fair market value coverage?

2. Do you pay full shop rate if I have a claim and want to use a Certified Mechanic?

3. If I have a claim and require parts, will you cover the full cost of the parts or will you depreciate the cost in some manner?

4. Does my policy cover salvage environmental clean up if my boat was to sink?

5. If I have a claim and can’t get back to a safe location, does my policy cover towing and dockage expenses?

6. If I have a claim, at what level of expense will a claims adjuster have to approve the claim? And, how long will that generally take?

7. What is the total cost of my yearly policy?

Now that you have the information, you have two choices: You can make a few phone calls and/or read your policy, or you can do nothing and hope it doesn’t matter.

Either way, I hope you never have to find out if you made the right decision. Your friend in boating!

Matt Sellhorst is the pleasure boat specialist at Lake Wylie Marina and author of “The Pleasure Boat Buyer’s Guide: 24 Mistakes Boat Buyers Make ... and How to Avoid Them!” available online at BoatingTheCarolinas.Org. Look for him on Lake Wylie with his girlfriend, Sarah, and dog, Lucy.