Originally Posted by
iPhish
I'm sorry Irvine Lake but there's more to this story and you aren't telling us. Your business will take a HUGE hit unless you do something about this. And most likely end up closing up shop! Here's a few questions some may be asking in their head.
1. When was the lawsuit filed? (Fill us in with the Case Info!)
2. What's the status of the lawsuit? Judgement entered, Settlement, etc!
3. Insurance policies usually last 6 to 12 months. This was more than 3 YEARS AGO, your insurance company has got to have known this "could" have been an issue. So why is it an issue now upon this renewal period?
4. Your private launch fees are very high. I can now assume it's been to pay high insurance premiums for private launchers. You certainly haven't put much money into launching facilities for the past few years.
5. Maybe you need a new insurance agent and company? Why not allow private boaters to provide proof of insurance, name Irvine Lake an ADDITIONAL INSURED on private boater's policy, minimum coverage for like $500K or $1M, I'm sure Irvine's Lake policy is no more than $1M if $2.5M at the most. Every few months do a boat inspection and insurance inspection, charge the boater for the time to do the inspection. And in return reduce or remove the private boat launch fees.
But I promise you Irvine Lake, if you don't do something or change your pricing schedule accordingly for fishing and rentals, etc. You will be out of business by next year! Just look at the comments you've been getting here. The future of your business rests with this decision!