My sister and I purchased a boat for our mother. Fabulous Premier $38,000 boat. Brand new right off the lot.insured with State Farm. Now they say they will not pay. The day before we signed the purchase agreement and did the paperwork, my sister went to her favorite insurance agency in Babbit, Mn to let them know that we were buying a boat and wanted to know how to handle the insurance. She was told by the agent you must put insurance on the boat to be able to drive it from Bloomington MN to Embarrass Mn (April). So she wrote the check for the entire year of insurance and was told to bring the paperwork back once she had the boat, so she did, she even asked if I needed to be put on the insurance and the agent told her no that it isn't like a car and that the boat is covered. Our boat was damage 4th of July. My sister turned in a claim, Guess What they say they are not paying, we fought and we got them to pay 1/2, We are not happy with 1/2. They say that they are only paying half of the damages because my sister only owns 1/2 of the boat. But she purchased an entire policy, and I was not on the insurance because the agent told us I didn't need to be. I didn't have a problem with it, my sister didn't have a problem with it as long as our boat was insured, come to find out that it is not. I never sold insurance I didn't know and my sister didn't know. YET they took her money and told her it was insured. Yet on the policy it is insured for 37,000 and the trailer for 2700.00 and my sister and her husband are listed as policy holders and it was they who were the ones driving the day of the damage, so again why are they not paying.
Side Note: Two people cannot put insurance on the same piece of equiptment. And had we of known their was no reason I couldn't be on it, just add the name. Needless to say I am now on the insurance as the agent added me once she found out that I had to be on it, Imagine that not until their is a problem now they want to add my name.
The agent tried to explain to State Farm she didn't know that the owner of the boat had to be the one to put insurance on it, and that she better check all her boat policies to make sure they have the owner on the insurance.
You have my sister, myself and the agent errors in admission: NONE of us knew and now we are the ones being hurt.
My sister tried to now switch her insurance company (everything she owns, including her house) to a different insurance company and was told her premium would be to high as their is a claim against her house (the boat). Why did she purchase a different insurance policy for a boat if they are putting it on her house? We are not going to let them get away with this and we will continue to fight. I have tried the attorney general, the market of insurance division is investigating, and next I am going to try TV and expose this. I cannot believe that they can sleep at night. We have a brand new boat do you honestly think that we would not do what we thought was right to have our boat insured? I feel stupid Now as they are not paying! And I would not want anyone else to go through what we are. MAKE SURE you dot all of your i and cross all T's.
I contacted the CEO of State Farm to get their assistant to answer and tell me that she would investigate and contacted me today Wednesday: it is 3:30 and yet no call, so I called her back to be told that she sent it to someone in the field and that they have until 5:00 they are investigating and should call me as per her conversation with them. So I will let you know if they are doing the right thing.
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