[ SHOWGSD-L ] Club Insurance Beware/long
- From: LeBrowngsd@xxxxxxx
- To: showgsd-l@xxxxxxxxxxxxx
- Date: Wed, 24 Nov 2004 10:17:10 -0500
The subject of club insurance has been discussed on the list lately. I wanted
to pass on what I found out today. We have been with Sportsmen's Ins for many
year. I spoke with Michelle there today and she informed that Louisiana has
refused to accept the increase so our premiums have to remain the same and we
will have the same coverage. That is good news for us, for those in states that
accepted the increase the premiums have gone to 500.00+ per year.
She explained the different polices to me and thought I would pass it on for
those shopping. The policies availabe from what she tells me are as follow:
Primary Plan is what they sell and that is your own plan and it covers all your
claims. Havover is the insurance company and there is no sharing, this is your
policy. Covers all claims and they handle them.
Excess Plan is less money but any claims would go after all members homeowner
policies first then the excess plan would kick in. If members did not have
homeowners insurance then this plan would be considered Primary.
Master Plan which is the cheapest premiums is not a good plan. If 10 clubs
belong to the plan and as an example say club # 3 had a claim and the insurance
company had to pay the limits of the policy to this claim. If any of the other
9 clubs in the plan has a claim made against them they would have ZERO coverage
because all monies have already been paid by the claim of club # 3.
Also with a master plan they start on January 1st and end on December 31st so
if you buy the insurance in November you only get 2 months coverage for your
money. You would have to pay new premiums come January.
Hope this helps anyone that is shopping for insurance for their club.
Lee Brown
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