WHY HAVE INSURANCE !!!!!!!

I have had my Legend about three years now and the whole time I have had high dollar commercial boat insurance because I fish tournaments.... well I had a claim on my trailer way back and a claim on lower unit ......Now I find out they cancelled me back in September....and didn't bother letting me know... Now I bet I will have to pay even more to get the minimum .

what company?

Have you been paying since September? Ask for a refund.

2 claims in a short period of time if you haven't been with a company for a long time will get you cancelled .

one claim was last year and other claim was over two years ago. I don't understand why if you pay for a service you should be able to use it when and if you need it and not be punished for it . Its kinda like going to a restaurant any paying for food but not eating it because if you do next time you want to eat they wont serve you because you ate last time.

Every company is different, however it sounds to me like you went to a company direct instead of to a local agent. If I am wrong please share the name of the local agent so that we can all remember how their service is.

On the other hand their are lots of companies that will insure you and while you might lose a continuous coverage discount. There are companies that will insure you.

Unfortunately the way most insurance companies work is not the size of the claim, it is the FREQUENCY of the claim. =( ...

check out GIA

im not going to name the local agent yet .....I am going to give em a few days to make this right or not ... then either way I will name them with the out come.....

Please do (name the company/agent if used). Have never had a claim but sure as heck don't want ANY problems if/when I do.
Like you, I would be PO'd. Thats exactly why you carry insurance and pay good money for it!!!

State Farm did this to me about 20 years ago.

In full disclosure I am an insurance agent by trade.

Were you paying premiums during this time period? They are required to give 30 day notice of cancellation prior to the expiration date of the policy. Were you paying the company direct and receiving the statements from the company?

I ask because with direct bill policies, all notifications are sent direct from the company and bypass the agent. This would include all renewal information, cancellation, payment information, and just about anything you can think of. As an agent we often catch this when we reconcile books and during the renewal process we provide alternate quotes making sure you are still getting the best rate.

I say all this because there is a certain responsibility as an agent to make certain a client doesn't proceed without an option for replacement coverage. I also say this because there is a responsibility as a consumer to make sure your business is taking care of.

They can only cancel or non renew with proper notice.
If you have been paying premium, and they did not provide notice of cancel or non-renew, you may still have coverage in force.

I pay my premium once a year. they didn't have my new address but they had my correct phone number. I talked to them today and they said they couldn't renew my policy .......It was Karen at State Farm!!!!

Well last I heard mail didn't go to a phone number. I'm not takin sides but I am sayin you have some culpability in this deal as you should make sure your address is correct to receive a renewal notice or cancellation notice. I have had State Farm insurance since Moby Dick wuz a minner and have only filed three boat claims in 40 years. But I had two claims 1 year apart and I got the "friendly" letter from State Farm that another claim in the near future would result in cancellation.

I called my agent and told her if they cancelled my boat coverage they would cancel everything! My agent interceded and smoothed things over. But State Farm had my correct address to send that notice too which allowed me to contact my agent timely to nip in da bud. Just sayin.......

I have an agency and can assist you with a policy just like the SF policy. But pretty much any company 2 claims in two years will get you non renewed. Insurance companies have to be profitable, ask Karen what your loss ratio was while they had the business. I will say this, we call our cancelations as well as mail contact also. For two reasons, so the customer doesn't get in a situation where they aren't covered and secondly we of course want the business and don't want to lose the customer! Call us at 214-339-7827 if you need assistance, website is metroplexinsurancegroup.com and we have ratings/reviews on google company name is Metroplex Insurance & Financial Group, LLC.

I think you are better off not filing a claim on small things .....from now on when I wipe out a lower unit I will just buy one of those cheap Chinese ones for less than my deductible.

I don't fully understand insurance. If you have two claims in a period, whether it be a year or two years, they feel free to cancel you. But, if I pay all premiums for 40 years, premiums which the insurance companies set, at their discretion, why do I not see the premiums go down. It seems to me what's god for the goose should also be just as good for the gander. They allow me to pay full fare for 40 years and two claims and BAM, they cancel me calling me a bad risk. I'm sorry, I just don't understand this.

Would some of the insurance agents here explain this.

I guess that's why I don't purchase boat insurance.

Boat/marine insurance is simular to auto insurance, it is based on the value of the boat plus any additional coverage you may want.
Small boats have to think of it for covering you in the event of major damage or total loss whether on the water or trailering it.
Bigger boats have the same concerns plus the possible costs of larger fuel spill cleanup and salvage operations.
How much fuel does your boat hold?
But heres the kicker, thanks to the EPAs clean water act, it is federal law to report spillage of as little as one pound of weight of any hazardous and/or volatile substance in public waters....
There are fines for failing to report plus you will be charged for the cleanup, tests and environmental impact studies done becuase of the spill. Do you trust that your federal government will be understanding and fair to you?
Don't get me wrong, I am all for clean water, but if there happens to be a tree hugger in the area, I'm certain they probably have the epa on speed dial.

Cowboy, I trust that the insurance company will be just as fair to me as Obamas EPA. I really don't see very much difference.

Simple answer...

...it's because Insurance is a scam.

ding ding ding!!

if I paid as much into my 401k as I am required to pay into my insurance, I would be able to retire 25 years early!

I think State Farm is trying to weed out fishermen. Pleasure boaters rarely tear anything up and it's all gravy, fishermen occasionally do damage. Yours is not the first I have heard about SF doing this ......

I get mine from State Farm In Wylie at Adam Leget office.He fishes and supports allot of local stuff. great guy to deal with.

Insurance is a gamble. That's it. The companies calculate risk and put a monetary value on the probability that something will happen to whatever you are insuring. They cancel you when you have several claims because they are the casino and make the rules. They have to keep the odds in their favor or else they don't exist.

My policy with Progressive has gone down, matter of fact they just sent me a notice on my renewal. They lowered the rate without me calling or asking. I've had two boats over the last 15 years with them. Filed only 2 times but one was a doozie. Never a seconds hesitation if they would take care of it and they never threatened to drop me.