Joined: April 14th, 2012, 5:59 pm
Posts: 564
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Welcome to Insurance 101. As a direct result of the spike in high performance boat accidents in the last 2 years, the insurance companies have modified their exclusions/
The Exclusion for RACING and the Definition has changed. The past exclusion Stated that the policy was null and Void should the water craft be used in any RACE or Speed test. Speed test being Kilo run or radar runs. Racing of any type has always been excluded.
The new wording reads "Prohibited Use Warranty" (you warrant/agree) Warranted that the insured watercraft is not used to compete in speed with, Have a race with or try to surpass in speed, another boat, or engage in any test of speed.
So be careful now a blast down the lake beside your buddy could potentially lead to a denial of a claim!! This is going to put increased Liability on our fun runs and any poker run!!!!
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