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Old 04-25-2019, 08:44 AM   #6
MV Wanderlust
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City: Lakeland
Country: United States
Vessel Name: Wanderlust
Vessel Model: 1999 Jefferson Rivanna 52'
Join Date: Feb 2018
Posts: 543
Quote:
Originally Posted by Star0210 View Post
I can’t imagine they would cover it...isn’t there usually a waiting period?
I’d also be curious to know if there were any other boats that had issues or damage during these “storms”.
Typically, there isn't a waiting period. An agent "binds" the policy and then Underwriting will review the details to confirm they're accepting the risk and terms. Often all of that can be completed in 24 or so hours.

This guy's claim would be considered "loss on new business." That's a universal red flag. Since his company states they are "reviewing the claim," it's likely in committee to see if they want to rescind the policy and refund the premium.

A beer says they'll back out of the policy. It'll be interesting to see if they refer this to the state fraud bureau.
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