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Boat Inventory

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After another discussion on another board of a guy having a fire and loosing everything for fishing I thought I would share what I do with my insurance agent. When I was a kid I used to HATE doing an inventory for my dad’s boat. His insurance company required it yearly to carry a rider to cover the removable equipment on the boat. This is a good winter project.

What I do is create a spreadsheet with everything on the boat that is classed as removable. Your insurance company will cover anything that is permanently mounted to the boat under your general policy. For equipment that can be removed they only cover x amount depending on your policy. Mine will only cover two thousand dollars. With my hds being 600 and my subtroll another 350 that almost makes up almost half of what they will cover and my 4 riggers making up the rest. So I carry a rider to cover the rest of my equipment on the boat. It’s an additional 9 bucks a month for 10,000 coverage from theft or sinking. I asked if he wanted an inventory and at first said no it wasn’t required but if I wanted to provide it to him it may help in that instance of loss. So I began the process in 2006 of every winter while cleaning and sorting my equipment to keep a spreadsheet going. Now the agent said he didn’t need specifics but just a way to calculate the total of say a tackle box and a way to prove proof of ownership of said contents. So when I clean out a tackle mate that has spoons in it, I list manufacture of spoon, mag or standard, quantity of each spoon, cost of each spoon. I also take pics of each “file” in the tacklemate and create a folder labeled for each box. I list all the rods makes and models and prices. All safety equipment coolers cannon balls and anything else that could be stolen. Everything gets a picture taken. I also add anything new that I buy over the winter and get a pic and add it to the correct file I then save it to a thumb drive take it to his office before I load the boat in the spring, and he copies the entire file. That way if a claim has to be made he already has all the info at hand and proof to submit the claim.

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I do this and it's great advice for a few reasons. First, how many of you could sit down and list all the gear in your boat? Most of us have no idea how much $$ we have invested. Even a small tackle box can hold a few hundred pieces, most worth a few bucks. The value of what you forget or can't justify will far exceed the extra premium.

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You guys are too organized. :lol: It most definitely is a good idea. When the unexpected happens it's important to have all your ducks in a row. :)

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I have been working on this over the winter. I will have it done and into the agent before the boat hits the water.

I have this done on my Euro carp gear as each rod and reel set up is in the ballpark of 500-700 dollars. Take that times 8 or set ups.. and all of a sudden that takes a huge chunk out of my homeowners if something was to happen.

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I would like to contribute.

I once attended a Police seminar in which insurance was discussed. At this seminar it was stated that insurance agents HATE people who list everything and have pictures, particularly those who use a movie camera with a current newspaper so the date of ownership can be established. The movie camera is most hated because you don 't forget anything !!!! All one has to do every year is take pictures with his movie camera using a current newspaper. Again I would like to emphasize that the daily newspaper establishes your time and date of ownership. Àlso another point was made that you should make sure that everything you own is marked so the Cops know that it belongs to you after a theft. So when they stop somebody with what they know is stolen goods they will have a conviction and not have to let the SOB go free due to a lack of evidence. And you will get your stuff back, hopefully. It has been noted that thieves sometimes move on knowing knowing that everything is marked or engraved, saving someone from a costly breakin.

Just my thoughts.

All the best to everyone in the new year.

jim

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This IS a great idea that I used to do long ago and kinda forgot about. This past season I added quite a bit of new tackle, upwards of $2500, so I guess I'll be making one this spring too. Thanks Aaron.

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My insurance agent Bob Luellon http://worldwidemarineins.com encourages all of his customers to do this. Take a pic with a note: Ex. 100 spoons. Then zip the file and send it to his office. Bob only does marine insurance and does everything he can for his clients. The agent is your voice to the insurance company. If you don't have someone that will go out of their way for you when you need to make a claim ( unfortunatley I know) and to make sure that you have the correct coverage, call him! Just make sure that you are not short on time because he will explain everything:grin:

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My insurance agent Bob Luellon http://worldwidemarineins.com encourages all of his customers to do this. Take a pic with a note: Ex. 100 spoons. Then zip the file and send it to his office. Bob only does marine insurance and does everything he can for his clients. The agent is your voice to the insurance company. If you don't have someone that will go out of their way for you when you need to make a claim ( unfortunatley I know) and to make sure that you have the correct coverage, call him! Just make sure that you are not short on time because he will explain everything:grin:

I changed insurance this summer as well. I did go with Bob and couldn't be more pleased. Now I'm hopeful I'll never have a claim. He has a good video on the Walleye Central web site that explains a lot about insurance.

Paul C.

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Good to hear your experience with Worldwide is good. That wasn't my experience 4 years ago after insuring with them for probably 10 years. They were less than honest with me concerning their association with Fremont Insurance. They informed me that Fremont would no longer insure my boat when (as I understand it) Fremont was no longer doing business with Worldwide due to some questionable claims. Fremont remains my insurer through another agency.

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