Navigating the Insurance Nightmare - How I Got Burned After My Yacht Sank

[@Hans068]

Nearly all Insurance companies are like umbrella rentals. If it’s sunshine; fine. When it’s raining, they take the umbrellas back.

[@SP-gq9wb]

Best explanation of insurance... Ever!

[@dancotton3199]

I came here to say the same. Only thing I insure is my motorbike, that's because the chance of me crashing is so high. Instant write off at agreed value. Makes it worth it

[@eriklarson9137]

And people like you guys continue to propagate that. Meanwhile, Chris admits ON VIDEO the mistakes he made are the reason for his problems. Then blames the insurance company anyway. Smart!

[@RT10Viperman]

State farm has always sucked.

[@MrSageOlorin]

Yea, they can't even write flood policies in FL because they got busted illegally denying claims. Fuck insurance companies in general, but especially State Farm.

[@lmbcars]

I had State farm for years because my parents had it for years I got reared in a hit and run and didn't have full coverage but I had un insured motorist coverage. Come to find out that un insured motorist coverage doesn't cover you for un insured motorist and non of there useless agents ever bothered to explain that

[@mhughes1160]

B is for Broke because I bought a big ass boat.

[@DWESENTERPRISE]

​@@mhughes1160 you smokin major dope if you think he's broke...

[@athhud]

State Farm all of a sudden dropped every policy we had with them because we run a cattle farm. Nearly 2 decades ago they just up and decided that if you have certain animals on your property(like FARM animals), they won’t insure you. They made the mistake of giving me a heads up on that policy though and it cost them a decent stack of cash before I dipped out.

[@microchrist6122]

Insurance is a racket

[@ABoringTool]

There's no business in paying out claims, only in taking your money. An insurance company that will happily pay claims left and right is a bankrupt insurance company.

[@davegt27]

yep you can only drive one car at a time so why all the insurance

[@sherlockholmes60]

​@@davegt27Because insurance follows the car, not the driver. That's why if you're driving someone else's car, and you get in an accident, it's still insured.

[@drdoomslab]

@@sherlockholmes60 not in other places in the world.

[@kirkyorg7654]

it was a racket 15/20 years ago now it has become a criminal enterprise of epic proportions they are basically crooks now

[@jmkikkawa]

I own two powerboats that size and larger, and I shop boats constantly. With the new engines not being marine engines and not performing properly (over-propped), the year/model not particularly sought after, that boat was at most a $65k boat before it sank. And that is being generous because in the 40 foot market, everyone wants diesels and a diesel generator. Love your content and support this channel, but don't kid yourself.

[@puzer1]

...agreed...his biggest problem is the YT documentation...his decisions in "upgrading" this vessel and his utter lack of marine experience in doing so, leave him completely vulnerable in any litigation with insurance...it's unlikely though that his insurance is going go the litigation route...it's easier to just give him $40k to go away...unlikely that they will give him more...

[@BUFFDgaming]

he bought a bad boat to start with if he would of repowered a 99 34 sea ray or 36 with those motors he has a 120k boat all day .. no one wants to be uncomfortable on the water .. but i do agree with pricing.. he would also need silent choice 100000x percent must

[@normviano]

And you’re being generous. As soon as he repowered with completely untried experimental gasoline engines, I would argue the boat became worth LESS than $40k

[@ingresswizard9044]

Exactly.

[@AnonyMous-jf4lc]

Absolute facts!

[@jayryia]

I guess Jake hasn't been like a good neighbor after all...

[@stewiegriffin88]

Nope 😂😅

[@DinDooIt]

It's 'Screw your freedoms' Arnie Schwarzenegger now, screw him too!!

[@michaelg97]

"Like a good neighbor state farm don't care!"

[@TheSkaireKrowe]

You know where all those insurance dues go? ... Straight to Jake's paycheck... along with Ludicrous, Jimmy Fallon, etc...not to the legit customer when one needs it... Sham, Scam, BS.!

[@Crackhead__]

some would say.... he wasnt there

[@ImprobableGarage]

I work doing audits for various insurance companies, mostly for classics/exotic cars so boats aren't my specialty. But I can say I have seen a number of sad claims like yours where someone didn't update their coverage and got screwed (a 1973 911 Targa with a $20K stated value that hadn't been updated in 20+ years comes to mind). If you want to hit that 40K, don't do any further work on the boat aside from keeping things from getting worse. Then call in professionals to quote you the repairs. A professional upholstery shop to replace the cushions. A woodworking shop to repair/replace the damaged wood(including the stuff that was discolored that you want to paint). Etc. What you actually plan to do with the boat is irrelevant. What they owe for is to put you back in the position you were before the first leak started without you lifting a finger to do any of said work (up to $40k obviously). So for every single damaged item, they owe to have someone come in and fix. You could technically have had a shop quote labor and parts to replace the radios, screens, etc. that you replaced because it is not technically your job to swap those parts. Talk to your agent and/or claims handler and ask the specific question "Do you owe me for the cost to have the work to my boat done by a professional, even if I chose to do it myself instead?" and don't let them give you a vague answer. If they say they only owe for you to do it if that is how it happened, ask for the specific policy language saying that. I am not 100% because I don't know your policy language, but it is entirely possible they owe for the cost to have a professional come out and do every single repair, even if you chose to do them yourself. If that is the case, talk to the marina and see if they know a shop that would be willing to write up a quote for the work (if a shop does, throw them a bone by hiring them to do some work on the boat). Good luck, and I hope you've double checked what you have all your cars insured for, and that you have sufficient additional coverage for the custom work as that doesn't always fall under the regular coverage. You may also want to look into fleet insurance if that isn't what you are currently using.

[@ripn929707]

I was going to say, posting videos on KZbin, like he is doing, might be detrimental to his case. Lawyers love when you record everything and put it in the internet. I feel its catastrophically naive to volunteer information to the enemy, and your insurance company is not your friend. The second you file a claim, they are the enemy. Their entire existence as a business model is to collect premiums and minimize payouts. If they can find a way to get out of paying, their gonna do it. Dont help them with 3 hours worth of video on the internet, until AFTER you settle.

[@nathangibbs89]

I work in Health insurance not auto or marine but I can confirm your best recourse is to get the exact policy language and have a lawyer review it and assist with drafting appeals for the denial/lack of coverage

[@ABoringTool]

Chris playing this as if he has faith in humanity of these businesses. You have to turn that off and turn on game-of-thrones level political games. Every # you give needs to be as high as possible. Nothing happened because of anything you did. Play by those rules!

[@Funbgs2]

Someone finally talking some sense in the comment section.

[@eriklarson9137]

@@ABoringTool True. And when you have documented as much trash work as Chris has, he's lucky they offered anything.

[@Dan-Chrssy]

Here’s what you didn’t think about: Personal liability. Yes, your insurance company would have covered up to $400,000 in damage. You are vastly underestimating is the amount of financial losses, leaving your boat in the water would’ve caused. Shutting down the marina would’ve caused massive revenue for the marina. Your insurance policy would not have covered that environmental expenses and gas spills if left unattended can easily go into the millions of dollars. A perfect reference is that yacht that was beached in Hawaii a few months ago. Not much bigger than your boat and a seven figure clean up bill. Finally there could be damage to other boats in the marina, lost charter revenue (from people not being able to access their boats) and a million other things you nor I can think of. At the end of the day you underinsured, that’s why (and I did this with my boat as well) an agreed upon value should be more than the boat was bought for. I bought my boat new for $250,000 but have an AV with my insurer for $275,000 because of things like night vision, decking etc that were not included in the purchase price. Expensive lesson but the ten grand hit was way less than it would have cost you to go the other route

[@lautonsutley3760]

Man I know you are new to boats but I don’t care how much money you put into that boat, it will never be worth what you think it is. Here is a lesson, boats are holes in the water in which you throw money. You’re going to spend even more on it in the time you own it and in the end it’ll be worth about what you paid for it.

[@boneseyyl1060]

Reality. It's a bitch.

[@stewiegriffin88]

He knows that. I don't think he realized exactly how literal that is, but it seems like he knows that. It's his toy, boats are toys as you obviously know; and I'm pretty sure he knows that too. Definitely a great lesson tho, not knocking ya at all, more people need to understand this

[@muskokamike127]

@@stewiegriffin88 not to mention he almost literally did everything wrong he could possibly do. Right off the rip just going out in an untested and un-surveyed into the oceans is ludicrously stupid. People think they are like cars, just hop in and go and if you run into trouble, stand on the curb and wait for a tow.....

[@dirkferguson5523]

I tried to tell this dude when he first bought it. Some people just dont listen. He should have stuck to cars...

[@mattb2771]

Boat - Bring Out Another Thousand

[@explodeder]

It’s scandal not scandle.

[@DISOPtv]

Imagine being that guy. I'll light a candal for you.

[@jorgeantonini201]

In comments exclusively for this

[@normviano]

The fact that he spelled it like that is a scandal

[@hysbek3832]

​@jorgeantonini201 Not just a scandal, it's literally a literacy travesty! 😂😅

[@explodeder]

@@jorgeantonini201 gotta pump that engagement baby!

[@BCA-1]

My father had state farm for 50 years. He had 5 claims in 7 years. One was a recall on a lawnmower causing a fire, one a question about his mailbox that got hit, one a question about a floor, one a payout on the floor, one a payout for a roof from hail. The last claim they said golf balls caused, even though everyone in his neighborhood got a roof for hail. The next month he got canceled. He had to sue to get the check, then get new insurance. One month later, they sent letters begging him back. He said tough crap. They rin claims thru Lexus-Nexus, its the CarFax for people for insurance. Scammers.....

[@dmitripogosian5084]

Yep, one thing to be careful with is not to open a claim accidently when you just want to ask the question. They often start with collecting information to open the claim before answering, and you should not go this route.

[@BCA-1]

@@dmitripogosian5084 That is what they got him for. Like applying for a CC but not taking it. They will put a mark on you. Call you agent with questions and make sure that you do not speak to an agent. I advise people to call three roofers for estimates after a storm, do not give the roofer your insurance info, and ask them each to check for hail damage. You deal with the insurance, they are just there to do the work.

[@Alex-zi1nb]

lexus-nexus isnt the issue

[@buellb0y]

Please re-write that so it makes sense.

[@russalbers1188]

Lexus nexus gets data from all insurance companies, they buy it, that's just a small part of the info they have. They know more about you then you could ever remember. It's their business.

[@sparks869]

So the summary is that Chris underinsured the boat and for coverage on refloating the boat. And we get a whole video whining about $6k when this is all his own fault. He should be glad he's getting any money.

[@lasskinn474]

next video is for about how the engine system or some other system was more expensive than they disclosed. b is for drama proBlems. also a classic youtuber move telling viewers something and doing another. he didn't get it out the water on the insurance companys terms. the insurance company has some standing contracts for the removal etc and they do it that way because they can't just pick up random bills from good 'ole boys at the harbor, it wouldn't be 10k it would be 40k

[@SwedesGarage]

Totally agree with you, Chris did NOT do his DD property. Where in the world do he think you can refloat a 40' boat for 4 grand?? Blaming the agent because he didn't do his own DD.

[@n7narcosis]

"Didn't do anything wrong?" Knowing that you a) didn't winterize the boat, or b) close any sea cocks (if you even had any on the vessel in the first place [negligent]). There is no surprise at all that you weren't covered. Regardless of what you are paying for on the premium, you are responsible for its seaworthiness, full stop.

[@franklinv.s.]

Statefarm is the worst insurance company every to exist, from personal experience they do not respond in time and then try to blame you, Im so glad they are out of canada

[@ellesmerewildwood4858]

Second only to Allianz.

[@Hossdelux]

They were in Canada? I never knew that

[@ThisIsWhereMyNameGoes]

Boat insurance is required to have that 1 mill limit for EPA clean up so not sure why State Farm didn't have it. I had Progressive on my last boat and they are a great company to deal with. My new boat is with Global Marine and uses Progressive since they wouldn't insure it directly being over 20 years old. I have had a few claims with Progressive for vehicles and a tow on the water for my boat and they are incredibly hassle free with all of it.

[@vtxgenie1]

I've been with progressive for motorcycle insurance for over 20 years, but they lost most of those records and it took me sending in all my yearly receipts to prove how long I've been with them. They still continue to claim that their system won't allow them to switch me to their highest rewards level that goes along with that history. They're just as likely to commit insurance and financial fraud as any insurance company, insurance should never be allowed to be for profit.

[@polygaryd]

Check out my post about progressive. Total pos company paid out 0 for a very expensive vehicle that got stolen and played tricks on me in there little 😊interrogation room trying to freeze me out like that scene in wolf of wall street. Absolute garbage of a company. They took. I lost my car and my money to insure it. Scammers.

[@Rev1Kev]

Agreed, My GEICO/USBOAT policy had the 1 mil EPA coverage

[@Dan-Chrssy]

Yep my progressive policy has the same. May be a salt water v fresh water berth difference

[@ThisIsWhereMyNameGoes]

It's not saltwater vs freshwater it's an EPA requirement and it's usually buried in the fine print and not something you would see as a line item. We are in the same area as their boat and all of our club members have that 1 mill coverage for wreckage spill recovery.

[@lear60man]

Im luck to have a wife that is in the insurance business. The second I finished a restoration on one of my cars, she was like "pull that off your Geico policy and call Haggarty." It might be worth hiring a public adjuster to fight for you. They know what buttons to push like 'bad faith' 'Insurance commission' etc. Plus they have a sliding scale on what they recover.

[@DMountains]

"Bad Faith" is the core goal of the insurance business.

[@lear60man]

@@DMountains Agree, but when you mention those words followed by insurance commission, they take notice. Every state has an insurance commission that the insurance companies have to answer to. If you file a complaint, they will investigate and the insurance company will comply. Its like free litigation.

[@MrMlbfan6]

I know your wife is pulling in a lot of money

[@giobango]

So true. I own a public adjusting firm and deal with these matters all too frequently. Would be happy to review Chris’s policy and coverage determination letter for free to give you some guidance! Look up All Pro Claims Adjusters in Miami and ask for Gio.

[@1rstTry]

@@DMountainsI bet this is how he defines his wife 😂

[@Funbgs2]

Boat mechanic here for over 15 years. Surprised the insurance will cover your loss since the freezing damage would be considered "negligent maintenance". So whatever you had to pay out of pocket is strictly on you because you failed to winterize your boat or at least put a boat heater on board. Does not matter what insurance you have. If you run into the same issue you had previously. An adjuster will come out and deem what happened and would tell you it was negligence. State farm does not send out adjusters anymore. But progressive does.

[@sarahdell4042]

Cancelling my State Farm policy next week. Long time customer, and they keep raising my rates. I’ve never had a claim. No tickets for over a decade. I keep hearing nothing but negative experiences from other State Farm customers who file a claim.

[@ali1-931]

Insurance companies love to take our money, but when it comes to doing the right thing, they all of a sudden have a problem and will make a million excuses. Keep up the great work @BIFB and stay safe people, peace. 🥊🥊🥊👍👍👍

[@kengroat7992]

Welcome to yachting…… your lucky your getting anything. Freeze ryders on your vessel is separate from standard coverage. Your boat sank due to freeze damage and the boat in non winterized condition. You must have have a marine survey by an approved co to assess the value of the boat to properly insure. You’re in for more heartache moving forward

[@cyblur]

sit right back, and you will hear a tale.. a tale of a faithful trip....

[@lancenutter1067]

I believe it’s fateful trip. But faithful kinda works? lol.

[@cyblur]

@@lancenutter1067oops

[@jorgeantonini201]

A 3 hour tour?

[@spamanator666]

*fateful

[@peterevans7663]

I have watched with interest you sorting out the boat. My question is why did you not fit Sea Cocks, valves on the raw water inlets. If these had been fitted and turned off as part of the Winter rising of the boat it would never flooded and sank in the first place.

[@MatsGarage]

Because he is a car guy trying to use car knowledge to play with boats. Boats require another set of knowledge and you get that by asking people who know and do what they tell you because there are consequences to not doing like you should. It will be interesting when his stainless exhaust gets pitting corrosion holes due to being the wrong grade and too thin material to last in a marine/saltwater enviroment.

[@corymiller1618]

Insurance lawyer here. You should always shop around for new insurance approximately every 24 months. I’ve switched insurance cos. 4 times in the last 7ish years.

[@raykrv6a]

I was with Illinois Farmers for 30 plus years and just switched to State Farm to save $1900 a year. Is State Farm really as bad about claims and cancelling you as I'm reading here? Now I'm thinking I should be looking for my next insurance company.

[@adasterdezaster2865]

@@raykrv6a I ended up having to take State Farm to court because they only wanted to pay $800 after one of their customers rear ended my BMW X5 M Sport. I took the car to three different shops. Used their stupid little app and the estimate I got from all three shops was from $3800 to$4400. They continued the case twice and then the week before the final court date they agreed to settle for $3800. The bill from the body shop was $4134 and I sumbitted the final claim to them per their instructions. That was over a year ago and I've never heard back from them.

[@kylemccauley6182]

​@@raykrv6a it's all about your location! Maybe look at getting an umbrella through your insurance as well. I got more coverage of everything and it is cheaper.

[@raykrv6a]

@@kylemccauley6182 Yes, I have a umbrella along with house insurance, three vehicles. Farmers went from 1500 a year for house insurance in 2022 to 2500 a year in 2024. That was the trigger to looking for insurance. I haven't had a claim in over 20 years with Farmers. My previous Farmers agent is now a broker and he's going to get me quotes to see if he can do better as a independent. Being retired, I don't drive 37 miles each way to work anymore and drive less then 5000 miles a year. But you have to have it.

[@dcwebb1]

State Farm has been BAD news for many, many years. I dropped them like a hot potato DECADES ago. IMHO, they were terrible to deal with. So very sorry for your current insurance troubles, and best of luck with your new choice. Thanks for posting this info!

[@the_blue_gamer]

Yeah that doesn't surprise me. When I had state farm for insurance they were nothing short of hot garbage.

[@toddashford2601]

I’m still trying to figure out how this was covered at all? Is winterizing in Portland not required?

[@mikeg0802]

The environmental coverage wouldn’t pay to remove the boat, only the spill cleanup. You didn’t buy any additional recovery coverage and are blaming the insurance company. It’s that simple.

[@clintgulett7553]

He didn't know how much it would cost to get the boat out of the water and he expects his insurance agent to know what recovery costs?? this guy is delusional. I cant believe state farm has that many cars of his insured anyway because it seems to be more of a business risk than personal. The general public is clueless to what their coverage is. this video should be a wakeup call to all consumers to read the policy so in the event of the claim they are not on the internet crying.

[@robfromtoledo9514]

I've had State Farm for over 35 years and had two claims in that time that were handled great. However in the last couple years they are not so great. Recently had water damage at home and they weaseled out of paying. So I'm also looking around. I've kept them in the past basically because they have great rates on motorcycle coverage where some ins wont even write a policy. Sorry how things worked out and be thankful you have the skills to get it back up and running. Many other people would have walked away and that boat would be in a salvage yard. So I'm going to keep watching and look forward to the new boat build.

[@DMountains]

State farm did the same crap to me about 20 years ago. Next you'll find you can get a better value from just about any other insurance group.

[@DMountains]

I forgot to add, be sure to contact your state's Insurance Commissioner and the state attorney general's office about this practice. The insurance group's obvious bad faith will rain down grief upon the agent and State Farm

[@jamesr.epstein]

B, now you got my total attention. I'm 81yo and I still can remember my father going off on insurance companies. They will go to any length to make a buck. Thank you for talking about it. I currently am having problems with State Farm. After seeing this they will be history.

[@Javalitis04]

I was in the Army for 15 years .. had USAA for insurance the entire time ... got out and got a quote from Progressive and my premium went down by 75% ... one possible claim - talked to 'em ... no issue on their end. Great service - even if I didn't make the claim.

[@jacobpage9965]

This is coming from an insurance adjuster. All insurance companies, especially GEICO, State Farm & Allstate right now are looking for literally anything to drop people that are viewed as "high risk" based on either area, claims history, vehicles, etc. Insurance companies are losing money left and right with repairs/labor/parts are ALL continuing to go up year over year and "injuries" contionue to be inflated by attorneys and people claiming injuries regardless of if they were actually injured or not. Because of the size of your fleet and specialization on them, you need to go with something like Chubb or Haggarty which will likely cost more but the quality handling and coverage is significantly better for your usage. Most of your vehicles should probably all be insured on an "agreed value basis" rather than just regular coverage which is actual cash value.

[@mortennielsen3016]

Not trying to troll, but I dont think you got burned. You definitely burned yourself, but from a business perspective I cant see what the insurance company did wrong? Claiming the insurance company should compensate you further than agreed in your policy because you could have chosen to cause a enviromental issue is just wrong (period) and bad argumentation for your case. If you have chosen to go down that path it would have been both deceptive and very unethical. You had a 40k insurance on the boat, they are likely paying you that minus the cost of getting it back on the surface, which was undervalued but also something you could/should have looked into. Seems like it only took you a few calls to get a much better coverage. Assuming the insurance company is doing anything more than agreed is just naive and claiming that they are burning you when they are just doing what is in writing is a false narrative.

[@user-od9iz9cv1w]

Thanks Chris. I hope people reading this heard the first lesson learned. When you make any change to your insured asset, contact the insurer and get the coverage updated. We all make this mistake. My insurance story. 2018 retired. Credit to my wife, I called my insurance and ensured we had adequate home coverage including replacement value. They raised my rates & I felt safe. 2019 the house next door sold. New owner tore it down to build big house for profit. The demolition wreaked havoc on my property damaging the house, pool, etc. A difficult repair is still underway with a bill to the insurance for $5m. I would have been destroyed without that call to the insurance. My claims manager says it happens all the time. House burns down and they find major unreported renovations that allow them to walk.

[@muskokamike127]

4:05 if you'd called to insure it for $110K they would have done a survey and you would have learned about all your issues before it sinking. the one thing they focus on is bilge pumps because, they don't want it sinking...... I love your videos and you're a great guy as a person but you literally did everything you possibly could do wrong with this boat. I mean everything........

[@graybeardgolf]

Had the same problem with State Farm, particularly in Portland. On another note, glad to see you having a beer in my old hood :). I miss the Tin Shed.

[@TomHamilton-rg7cp]

Great story and one heard many times before in the insurance industry. My Dad worked his whole career in the marine and aviation insurance business and the first thing he would say is that they deny, deny and deny and finally they cover the claim. You wouldn't believe it, but the majority of policy holders go away at the first denial. More go away at the second denial. Those who don't give up, end up being paid. Don't give up and maybe it's time to have a lawyer friend send them a note explaining your position and that they need to make you whole for everything. Good Luck!!

[@normdyer94]

Confirmed! by another lifetime insurance company adjuster.

[@truckingwithjr]

It’s a big learning lesson. I’m glad u and ur guys know what u know about those motors and saved them. Love ur videos, keep up the good work

[@mantas6293]

be careful to check what is in scope of your original 40K coverage. because if now you say a new screen was damaged, they can say that it was not covered in the first place. think it through, in some cases such claim could be rejected due to negligence (you have not taken care to winterize the boat). there can be many traps.

[@playgame38]

Should this video be taken down then???

[@puzer1]

...he doesn't seem to realize that he has modified the boat from the original insured status and it's documented on YT...any competent attorney could easily prove that his modifications and negligence caused the vessel to sink...the question is, will his insurance just pay for him to go away rather than go through litigation which would likely cost them much more...this is going to be a case of who blinks first...

[@adasterdezaster2865]

@@jerrydwyer9057 I'm surprised he made the video. All he did was open himself up to being liable.

[@vladstr100]

​@@puzer1did we watch the same video? He's not clueless that he modified the boat. He's admitted that he screwed up by not updating the insurance on the boat. But that's not his biggest issue with the insurance

[@BrantGarrison]

Insurance is liable for your stupidity, negligence, and accidents. The only thing they could deny it for is things done on purpose, and that'd be insurance fraud. Now, he should realize he's not getting the 40k and the boat unless it's written in his policy that way. He'll EITHER get the 40k and they take the boat OR he'll get the 40k minus salvage value and he keeps the boat.

[@iamjimfromwithin]

Similar experience with a water pipe leak in one of our rentals… sent the plumber to fix ASAP, Sunday call out fee, plaster removed to access, and the repair. Call insurance, no claim as there was no damage caused BY the leak, only by the plumber to stop it. $1500 proactive fix, not paid…but if the house flooded, they’d happily pay for $30k bathroom.

[@glideslope69]

Honestly spending 2500 bucks to retain a lawyer will probably pay for itself 10x. As soon as insurance gets the notice you’re represented they’re gonna get real by-the-book real quick

[@rkylep]

Insurance attorneys tend to take a percentage of the return. Odds are it would not be worth it for him.

[@BUFFDgaming]

2500 is not alot these days try more like 7500

[@BrantGarrison]

Lol, no, they don't. Lawyers in many situations just create more problems. Needed sometimes, but usually not.

[@maxmackinlay618]

The policy was pretty simple: $40,000 + $4000 - (excess?). He saw it and signed it. What's the lawyer going to do? Maybe tell him to do his homework next time?

[@paulmcneil3365]

I had state farm and they were screwing up my bank account money they were deductions was varying greatly. So I changed to shelter had a wreck on my motorcycle and was paid out with in days of my claim! So far shelter has been very good to me and I'll continue with them.

[@BufordTJustice20]

Plenty of marine insurance misconceptions in this video. They agreed on the value because you had just purchased it. If you contact them with the modifications, they are not going to agree to a stated value over $100,000. They’ll stay within the confines of the value of the boat. With more information, you’ll realize you are getting your first hard lesson in boat ownership. Plenty more lessons to come.

[@keithposter5543]

Man what a nightmare. Kafka couldn't have made it up. Thanks for all the boat content and looking forward to the new build 👍

[@andypostlethwaite786]

You should feel lucky you got anything from for the boat, the insurance was for a standard boat and it was heavily modified. They could have easily said it’s not what they insured .

[@charless2684]

Insurance companies aren't your friend. Also. "Scandal" 😉 Geeze. Just read some of the comments. So many haters! If you invested $80k and told your insurance...they should pay you $120K.. Love your main channel. One of my favorite

[@user-sx4yu3nw4j]

You said it yourself, you failed to adjust the coverage after the repower and refit. Also, YOU signed the insurance policy that with insufficient coverage on wreck removal, take some responsibility, that’s on you not the agent. You’re the owner, man up and own it! Literally ALL of this is your fault. Quit your whining and deal with the consequences of your bad decisions.

[@garrettkrieger6867]

5:12 this statement is kind of ironic seeing as Portland just got around to pulling out an old fishing boat that’d been turned into a giant meth lab and tax payers got stuck with the bill.

[@nmakris2004]

That is State farms business plan. Insure until there is a claim then short them and cancel them. Then 2 years later you get hounded by every local State farm rep to come back. I screw with them every time they reach out.

[@michaelheaton4526]

How are you using the money for your next build if you are saying there was a shortfall in your insurance coverage ?

[@ryancooper3629]

Consider that every second of this boat's recovery and repair has been content which is revenue generating and often sponsored, in itself, which means getting the boat back to good shape will likely have no out-of-pocket cost or likely will even be profitable meaning the $40k cheque the insurance company cuts is just gravy.

[@puggsincyberspace]

Insurance is very different here in Australia. The current minimum liability for all insurance is $AU30 million. We also have fit-for-purpose and Junk insurance laws. So, if that recovery amount was not fit for purpose, then they would have to cover the full cost, or they could be fined. You would win in a small claims court here.

[@maxmackinlay618]

And yet here we are 'premium's for home insurance going up 15% every year' compounded. Au

[@bwalker4194]

Longtime State Farm person here. 10-40 years ago they were great. Instant no-questions-asked claims reimbursement and excellent customer service. Then three things happened in close succession: California wild fires, Hurricane Ian and Covid. The first two devastated their coffers and the last one devastated their experienced staff. We all now see the results.

[@MatthewWilson83]

It's really gone to pot since just before Covid. I'm in the home restoration business and it's gone from top tier to bottom tier.

[@bwalker4194]

@@MatthewWilson83 You are completely correct! My favorite local body shop took 6 months to fix my wife’s 11 yr-old Audi S4 because of SF’s ridiculous customer (lack of) service. Said body shop was a prior SF version of Premium Preferred Provider and now they aren’t. When I asked the shop owner if SF dropped them, he replied “no, I dropped THEM for lack of service and support. All the older, experienced people retired, they’ve taken the clout away from local agents and the newbies get financial incentives to deny claims or insist on used parts”. Seems like a trend, huh?

[@chrissiebeneck3294]

Thanks for the details and the story Chris

[@khass110]

*scandal

[@DISOPtv]

Imagine being that guy. I'll light a candal for you.

[@my31and37]

State farm has been pretty fair to me in the past, but on my last claim I had to threaten Legal action. Then, miraculously they agreed to pay. Now I am wondering if I will get that cancellation letter.

[@Spankytrucker69]

Im canceling my state farm insurance tomorrow morning thanks for the heads up!👍✌️🇺🇸

[@DISOPtv]

Yeah def do it, a LOT better options out there and can save you money. SF not what they used to be.

[@erikrenner]

Switch to Progressive. I’ve had them for 20+ years. Several claims. No issues.

[@dalton8813]

You’re about to save a bunch of money lol.

[@Spankytrucker69]

@@dalton8813 lmao

[@mwcinci]

Your about to have better and cheaper insurance lol

[@ChrisWijtmans]

Not to defend insurance for being a scam but its your own fault your boat sank and the insurance owes you nothing. You did not put valves and close them when the boat is not in use.

[@S.V.outrageous]

The insurance is there for accidents you smart guy

[@S.V.outrageous]

Also they're called through holes and his broke

[@ChrisWijtmans]

@@S.V.outrageous yes for accidents, not for wilful ignorance.

[@kylebenjamin6120]

Would 100% love more videos like this for every build just filling in the behind the scenes stuff

[@globaldeception7414]

Omg i was about to buy state farm.. but. Now im not. Thanks for saving me tons of money

[@Hossdelux]

Tbh I don't trust any insurance. Just get the cheapest and hope to never need it

[@divelasterlaster3946]

State Farm screwed me over on a pickup truck back in 89. I’ve never used them since. They call me every year asking if I need a quote.

[@longsleevethong1457]

Bruh….that is not a yacht. Stop calling it that. Furthermore I don’t understand how anyone could possibly care about that boat. Wow. Yt creators are the biggest narcissists.

[@JTrickZ]

What do you not have commercial fleet insurance for that many vehicles

[@Joe___R]

The idiot tax can be quite high. You learned that the hard way by not properly insuring your boat. State Farm is well known for canceling your insurance if you ever have to use it more than once. If you can get it, USAA insurance is one of the best, especially if you have to file a claim. It is always better to be over insured than under insured.

[@AmalgamationofMan]

Boats and RV's are liabilities not assets . Insurance is a racket

[@drevvd]

More like Snake Farm

[@Ekasmer549]

Good song.

[@Eric-j7i1x]

was that Ray wylie Hubbard@@Ekasmer549

[@DeWittPotts]

I have a friend in the insurance business. He told me that insurance companies write policies that contain 3 sections. The first section is detailing what the policy covers. The second section outlines anything that is excluded from the coverage. The third section is there in case they forgot anything in the second section.

[@VR6NAVYVW]

Sue Sue Sue

[@djz3r063]

Cancelled State Farm on 2 vehicles, 1 year later I was getting a court summons for failure to pay them for the last year. Had to fight them for over another year because they claimed, "it must have been a clerical error, and it's our word versus yours"

[@Milkmans_Son]

A court summons for not making premium payments? Uh, no.

[@Torch4ya]

The boat videos are so painful to watch. It was a turd to start with, and it went downhill from there - and then it sunk. Please unload it. It will be nothing but problems, especially since you didn't replace each and every bit of wiring 🙄

[@DennisSwanson517]

😂😂😂 it’s fresh water I’m sure the wiring is fine. When boats like his are built they are really built to last. Honestly he ruined that boat putting the gas engines in it but that’s just my opinion. It’s still a cool boat overall and will be around for a long time.

[@davidcochrane3671]

The boat was a great boat but had old age issues.the boat got repowered and was pretty nice again with a lot of other work. Unfortunately it went bad as the other 50 odd boats due to a weather anomaly. Your comment is somewhat negative and doesnt reflect the massive rebuild and upgrades. So there is lots more work to be done. Why dont you stop moaning and being critically judgemental about someone who already is having a hard time. Your not a nice person are you.

[@MikeMartin-m5m]

Did the marina say how much they would have charged you to pull it out

[@integradude08]

They spent all their money on ads rather than actually backing their customers. You're one of many horror stories from them. Thanks for sharing your story

[@Harrybollox]

Under insurance is common , check your home insurance, if you are under insured any claim will get processed rated down . Boats are money losers but what a great hobby. I will only sell my boat if I upgrade or get too old to use it.

[@intosound913]

we had state farm, we were on our first vacation in 15 years. house burned down. they tried to say it was arson, we were not even in the country.we had to sue state farm for 3 years before we got half of what our insurance was supposed to cover. and as you pointed out they are not cheap.

[@Kempmaurice]

Progressive is simply the best. We have them for our bikes, boat, home and RV and they have never screwed us over.

[@DISOPtv]

*yet, they all do/will, but SF is killing that part right now.

[@paulkelly4731]

I can't believe you could find a willing Insuror without a marine survey....

[@Eric-j7i1x]

years ago my friend had a body shop he would not work on cars insured by state farm as they were impossible to work with

[@MrLog10000]

just had a horrible experience with a insurance just for a tow where they call in someone from another state to tow and it it took 7+ hours for them to arrive

[@soldiersofhavoc7915]

Thanks for the update. I have State Farm about to contact them now to upgrade my policy. I’m super glad nothing happened to my boat with the coverage I have.

[@DISOPtv]

Make a call to another company is where I would spend my time.

[@davidplamondon1827]

Had trouble with state Farm down here in south Ga. over a small fender bender with a pick up truck.

[@rogerbrandt6678]

Hey I live in Alberta, where is this.?

[@diogoalmeida9687]

I thought that like a good neighbor, state farm was there?

[@jimratti3949]

Last time I dealt with State Farm was back in '97 when they screwed me over in an homeowners insurance claim. BoatUS used to be great, but since they're now owned by Geico I have no idea.

[@bryce2113]

Look into getting a commercial policy that covers all vehicles together versus having to do individual premiums/policies.

[@itbgmultimediastudios1815]

Insurance is a scam.... state farm screwed the company I work for. Similar issues, they have a bunch of cars through them very similar bill as you guys. They fight over everything and its so annoying. Be safe, love you guys!

[@macbook802]

Our marina in Arizona and every marina I called in San Diego requires a 300k policy to cover if something happens to your boat and a major clean up must be performed. I've never had any issues, but my understanding is if something were to happen they'd at least be financially responsible for putting a halt to the environmental impact. Such as re-floating, putting out a fire, clean up efforts, and emergency removal.

[@Xpyburnt_ndz]

Yep, they're not such "A good neighbor"!!! Have heard this so many times from former customers of them! So sorry you had to go thru all of that, along with everything else you've been or had to deal with!!!

[@Jasta315]

I had a house fire and had to fight the insurance company for 7 months before we could even start to rebuild. I've been basically homeless, but staying with family, for over a year now all because of nightmare insurance companies.

[@James-vn8zb]

I had a tree fall into the house during a tornado. They rushed us to get everything out of the house so they could start the repairs, then it took about a year for them to start repairs. They did pay for a rental property for about half of the time we were out of the house.

[@TheJustinCase69]

That is one thing I have learned about insurance. I check rates each renewal cycle. I have about 12 cars, rv, 5th wheel etc. I had made 3 claims though liberty mutual for windshields as I live in AZ and it is free replacement. They raised my rate. I switched over to progressive as it saved me on my premium. I had statefarm back in the day and they were just as much of a nightmare as they are today.

[@rustyg.7143]

Dude thanks for such good info… I was thinking to switch to state farm this year cuz it’s a bit cheaper of what I’m paying now, but after your video I’m just keeping my current insurance….definitely 😊…. Love content vids 👍🏼

[@todddunn945]

I am not particularly surprised since State farm isn't a significant player in the yacht insurance market. In my experience with them they mostly insure runabouts and ski boats often via a rider on a homeowners policy. In addition to the things you mentioned you would also be advised to completely rewire the boat. Also you should also replace all the cushions and fabrics and all electronics/electrical equipment on board.

[@LeninVera]

State Farm is for sure one of the worst. Haggerty is a good option for you to look into. Especially for all the car builds. Unfortunately unless you have an agent looking out for you instead of their wallet and numbers, you will get that at other insurance places too.

[@raptorheli2]

How does this work when you are doing all the engine work? Normally a specialist would work with the insurer and agree a cost to fix this stuff, you already fixed it though and the biggest part in marine life is usually Labour. Does insurance agree to pay you for a nominal labour rate?

[@hongolloyd8728]

Best day in a mans life, when he gets a boat. Second best day is when he sells it.

[@M0HANRAJ]

It's so wild how by law I have to pay insurance companies but when it might come time for them to have to reciprocate they can get out of it. Just feels so wrong, especially as someone who's not trying to play the system.

[@robh3267]

It's amazing to see you actually using the boat again when a short time ago it was sitting on the bottom of the marina, most people would have just written it off, Chris your an exellent example of what a person is capable of when they put their mind to it ,you might want to reconsider insuring through Progressive, they have a reputation for not standing behind their policies, I was insured through progressive and had a few issues with them and did some research and was horrified at what they have put many of their customers through, in the end I found much better coverage for a lot less money, problem with insurance companies is they are far better equipped to handle legal matters than their customers are and they use that to their advantage, when someone files a claim especially if it involves medical issues and expenses , a court battle can alter the course of a person's life just because of how long legal matters take to resolve, even if you win sometimes it's too late.

[@GuyConscious]

I genuinely hope statefarm feels this mistake. Switching from Jake to Flo was a good call. I always liked her better. Good on you for doing the right thing, btw.

[@gerrydunne8768]

a lot of insurance companies are doing the same thing i just got my house and cars insured and they informed me of all the new deductible they now have and the new cost they want and o boy are they able to charge

[@mobilemowers]

Life just sucks at times but you learn and grow. Anything boat is never cheap. How many Channels do you have ? B is for Build, the dead B is for boat and now Behind the build

[@mr.h4714]

Open claims and claims where payouts dont happen DO stay on your record as a claim with state farm......I found out the hard way when my neighbor got a roof replaced for hail....i asked state farm to inspect my roof and they saidnthe only way to inspect it is to "start a claim'. After the inspection the adjuster and the roofer agreed the damaged area wasnt from hail and wpuld not be paid out. When i inquired about a rate reduction the "roof claim" was used as reasoning not to reduce rates

[@bradleyisgladley]

How was the Thai food?

[@genericsomething]

About 35 years ago, State Farm cancelled my dad's policy, after almost 20 years as a good customer, when I wrecked my mom's car. The car that was at fault fled the scene, but the whole policy on 4 cars and a boat was cancelled anyways. It seems like they haven't changed.