Insuranceon shipping a car?

Buy the optional insurance. Maritime law is very different. My understanding is if if a large wave should hit the ship or if the ship should have to jettison half the cargo was but your car wasn't lost you would be liable to the other shippers for a portion of their losses. With insurance you have no liability. The insurance would would take care of it.

Whilw the risk is small stranger things have happened. Check with a lawyer who is familiar with maritime law then make you decision.

Jim

Hi Terry,

When faced with this option, the shipping company told me that most insurances cover the shipping in regular premiums because it is a US vessel. If anything happens, the shipping company will pay your deductible up to $500 (SeaStar) They only had one reported instance in several years and that was an employee who drove a guy's truck down an elevator shaft because he wasn't paying attention!

I took the chance and it arrived fine. Besides, of course, random stolen articles in Puerto Rico which wouldn't have been covered anyway!

Read the policy. My policy with State Farm only covered my automobile in the US, Canada and a small portion of Mexico. Once you car is loaded on the boat and crosses the three mile limit it isn't insured.

Don't trust what your agent says. If you can't understand what your policy says then speak to a home office underwriter that knows the legal language in that company's policies.

Also FYI most of the policies written in the USVI only cover you in the USVI. If you drive anywhere else your VI issued policy DOES NOT COVER YOU.

Jim

My philosophy on any type of insurance is: If you can't afford the loss, get insurance. Otherwise skip it, because on average you'll pay more for insurance than you'll collect in benefits.

Exception: Insure anything that goes through Puerto Rico!