Guide Insurance

[Insurancepro]

There has been a lot of talk here on guide insurance and how it works I thought it would be better to explain how it works. This is going to be brutal because I type one finger at a time. Here is a sample of the coverages provided. Keep in mind this is a sample. Yours could be different because of driving record, loss history, experience, territory ect. If you receive money from clients to take them fishing, it now becomes a commercial exposure for an insurance company. Most standard policies do not provide coverage for this unless your policy has an endorsement added. It is very important to understand this, because if a client was injured during a trip you may find out there is no coverage. You will be familiar with most of the other coverges. I will do this quote on a experienced guide, over 50 years old, claim free and with a good driving record:

2007 Ranger 621 VS for sample
Hull and equipment $ 40,000 Ded $400
Trailer $ 5,000 Ded $250
Watercraft Liability $ 500,000
Medical Patments $ 10,000
Uninsured Boaters $ 500,000
Marine electronics $ 10,000 Ded $250
Fishing Equipment $ 10,000 Ded $250
Towing and Emergency service $1500/ 3000
Non- Owned watercraft Liability $ 500,000
Tournament reimbursment $ 2500. Per season
Fishing Guide coverage Included
Navagation All waters of the U.S.A. and Canada
Agreed value with no depreciation on partial losses
Includes a diminishing Deductable
Annual premium with guide coverage $ 573.00

I hope this helps clear things up. Feel free to give me a call if you have any questions. Thank you, Bob Luellen 800-339-1235 www.worldwidemarineins.com

[Redbone]

Hi Bob,
My question is, if the vessel takes on water to sink up to the gunnels but still floats what part of the policy covers for the salvage and what are the $ limits for the salvage or is it an agrees upon $ figure with the salvage company. Then if the vessel sinks to the bottom is this handled the same way as the above senario.

Thanks,
Bob Piette

[Insurancepro]

I can only explain how the above policy would work. Insurance companies have different coverage's and you would want to check with your agent to confirm your coverage's. The fuel spill coverage is part of the liability coverage and any fuel clean up would be paid from this section of the policy. It is a agreed value policy, which will pay hull limits in the event of a total loss minus the deductable. The salvage would be paid under hull coverage in excess to the hulls insured value. I hope this explains this policy. Thanks Bob