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Report: #1097808

Complaint Review: BoatU.S. Marine Insurance - Alexandria Virginia

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  • Reported By: Rjen76 — Modesto California
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  • BoatU.S. Marine Insurance 880 So. Pickett St. Alexandria, Virginia USA

BoatU.S. Marine Insurance Scammed by Sales Agent Alexandria Virginia

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I filed a claim with BoatU.S. for a boating accident I had on 7-12-13. The estimate was for $5540.53.  The insurance company sent a surveyor out to confirm the damage and then advised me I was going to be paid only $3822.66. I was shocked!! I told them I insured my boat for around $32,000 and was told it was an "actual cash value".  I was told by the claim agent that under the policy I had boat repairs were depreciated ten percent from the date the boat
was manufactured. My boat was a 2005. I explained that I was never told this information when I purchased the policy from an agent over the phone. I was under the impression I was getting a policy of actual cash value and was never told anything about depreciation. I explained that I understood they had a yacht policy but was told I could save a little money with the boat saver policy by under valuing my boat a little.
 My boat is a $40,000 dollar boat and I would never have picked a policy that would depreciate it 90%, that is just crazy! There isn’t even much point in having insurance if it gets depreciated 90% and next year 100 %.  Not only would I not pick that policy but the company should advise a customer not to pick it for such a valuable boat. I
believe the person selling the policy had not idea what she was selling and I got taken advantage of. I checked the policy information I received in the mail.  It consists of three pages and does not say anything about depreciation. I later called the same number I had called when I bought the policy and spoke to the person who answered. I began asking questions about my policy and depreciation. The operator had no idea what I was talking about and had to transfer me to an underwriter. He answered my questions and said the girl I spoke to must have been new. I could not believe that these are the people selling the policies. I asked to have a copy of my full policy mailed to me to make sure I did not miss something. I received the same three pages I previously had and again nothing about depreciation.  Prior to getting a BoatU.S. policy I had coverage through State Farm for many years but ended up changing because it seemed that BoatU.S. had a lot to offer, however I was very wrong.  The amount we are talking about  is $1,700. To me that is a whole lot of money, to the insurance company it is a drop in the bucket.  You would think they would take care of their customer due to their error and to have a good reputation.  I guess I was wrong. It is just not right that inexperienced uninformed people are selling policies that can affect peoples lives and finances so drastically.

This report was posted on Ripoff Report on 11/07/2013 08:47 PM and is a permanent record located here: https://www.ripoffreport.com/reports/boatus-marine-insurance/alexandria-virginia-22304/boatus-marine-insurance-scammed-by-sales-agent-alexandria-virginia-1097808. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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