State Farm Exclusion!!!!
03-18-2019, 06:09 PM
#1
Registered
Thread Starter
State Farm Exclusion!!!!
So I just opened my renewal on my 400SS Formula. This year I actually read the exclusions. In section 4 sub c the word "weather" appears. E mailed my agent and he said that this is a new exclusion for state farm. This would include hurricane, tornado, wind, rough seas, ect ect ect. WOW. I would suggest State Farm boat policy holders read and understand there is no coverage for probably the biggest hazard we face. Glad I read it. oh and BTW the premium went up a bit..........Ironic Huh
03-18-2019, 07:58 PM
#2
Gold Member
Gold Member
State Farm cancelled my coverage at 11:59 on July 3rd the first year I had the boat insured with them after promising me it wasn't a problem. Screw them.... I have nothing with them now. No auto, no homeowners, no rental house, nothing.
03-18-2019, 09:32 PM
#3
Gold Member
Gold Member
On all our policies down here you have either a regular policy or a named storm policy. You have to have "named storm coverage" to be covered during a big storm. I heard last year that that was even going to be limited up to category 3.
03-18-2019, 09:34 PM
#4
Gold Member
Gold Member
On all our policies down here you have either a regular policy or a named storm policy. You have to have "named storm coverage" to be covered during a big storm. I heard last year that that was even going to be limited up to category 3. Not only that but most the policies I needed to request "offshore" which is 1 mile or more offshore
03-19-2019, 07:53 AM
#5
Gold Member
Gold Member
I had several boats insured with SF for years. I figured I'd shop around for my current boat and SF's rates were much higher than some others. I ended up with Boat US / Geico.
03-20-2019, 01:00 PM
#6
That is interesting, I just checked my State Farm policy (policy for 2019 season) and I did not see this. Not sure if anyone cares but my policy number has FP-7900.1 on the first page. I am located in PA and I am wondering if that may mean I get a different policy...
03-20-2019, 01:50 PM
#7
Registered
Our first boat was a 27' Fountain Fever with a 502 MPI. Had everything with State Farm. They called about 3 months into ownership and said "we don't ensure race boats". I laughed at the agent. Race Boat??? Same engine as every other boat on our river.
Call Christopher Wagner at LOTO. He should be able to help you. Wagner Insurance Agency
Call Christopher Wagner at LOTO. He should be able to help you. Wagner Insurance Agency
03-20-2019, 03:05 PM
#9
Platinum Member
Platinum Member
Because they never loose, storm damage in the Midwest is a given so if they have a bunch of claims they raise rates across the board, ever hear of one going out of business ??
03-20-2019, 07:31 PM
#10
Registered
Thread Starter
Got a call today from the supervisory underwriter. I filed a "RANT" with SF. They were not happy about loosing 7 other policy's. So they will show a addendum on the renewal declarations page.........In their defense after I read further details on down the page it seems to contradict itself 2 more times.
