Posts: 1936
Location: Eau Claire, WI | Mike,
There are many insurance policies that have exclusions for tournament fishing. I.e. you're in a tourney and something happens that you make a claim on they are not obligated to cover it.
Many people make assumptions when buying various types of insurance,(home, auto, etc.) and never look to see what the policy actually covers and doesn't cover.
The "Why" part of it is simple... There is more risk involved when people are fishing tournaments or guiding than if they are pleasure fishing. Boats traveling faster, more boats on the water, etc. all equals a greater exposure and increases the risk of an incident. Insurance companies are in business to make money. The higher the risk, the higher the premium or enter exlusions to coverage.
Best advice I can give anyone is to make sure you ask questions when buying a policy. I.e. "Is my boat covered under tournament situations", "How much liability coverage does this policy provide", "How much medical coverage for me, for passengers or those in another boat", "Is the coverage for my boat replacement cost or market value at the time of incident", "If market value then how is that determined"?
I am not an insurance agent but in my professional career I am involved in the decision making process for insurance for the company I work for. I have also learned to ask many questions involving insurance... I learned the hard way on a homeowners claim about 10 years ago, thought I was covered...I wasn't.
Insurance is a gamble for both parties involved. The insurance company gambles that they will collect more in premiums than they will pay in claims. You as a consumer need to decide two things... 1. Is insurance necessary? 2. How much and for what do I want to be covered?
Hope this helped a little. |
