• Welcome to Chester County Bass Masters.

News:

Welcome to the CCBM Forums!  Club meetings are the third Thursday in every month. See http://www.chestercountybassmasters.com/ for more info.

Main Menu

insurance on Boats and gear

Started by Sam M, January 25, 2014, 09:06:23 AM

Previous topic - Next topic

Sam M

I am an insurance adjuster for property claims. This topic came up at the end of our last meeting. Everyone on the club has boat insurance to cover your boat. Make sure you have an adequate amount to replace what you have. Your policy should broken down into three categories motor, trailer and then boat with fishing related items on your boat i.e.  gps/fishfinders, power pole, trolling motor. This where you may find yourself underinsured, double check to make sure that you have adequate coverage on each item. Your policy may weigh heavier on one item vs. the next.
Just as important would be to catalog your gear, especially if you store it off your boat during the winter months. I was at fire this week and the fire went into the garage where the person stored boxes of collectibles. The items were totally destroyed. Imagine the hours it is going to take that person to come up with a list of exactly what she had, no way she will remember everything. It is my experience that this where people lose money. The natural reaction is the concern with the house, then furniture and clothing. Things like the exact amount of rods, reels and lures is going to be secondary.

Now think of trying to convince your adjuster who doesn't fish that you had 50 crank baits priced at 12.99 each and 20 spinnerbaits at 9.99 each. There is also price discrepancy between say a Strike King bait and a Lucky Craft bait. The money will add up very quickly. Most of our gear will be destroyed very easily in a fire.  We all have thousands of dollars in gear to protect.
To do this what I did was to take a video, I started with the my rods and reels. Make and model, again you want to protect yourself as we all know there is a huge difference in price between the top model someone puts out and a lower level model. Make sure you also remember the line that is on the reel. Next rods, baits etc down the line. I also catalog everything in a notebook. Store them at a relative or friends house/t doesn't make sense to have this done and lose it to the same fire.
In case of a fire this will save you countless hours of trying to remember everything you had and also the aggravation of arguing over what you had with your insurance company.