10-05-2015, 09:15 PM
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WOOSH NAR558 President
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Join Date: May 2011
Posts: 133
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Quote:
Originally Posted by Randy
From NAR website.
"3.What are the deductibles for the insurance?
The NAR policy has a $5,000 deductible per Bodily Injury & Property Damage Claim. Members are personally responsible for payment of the first $1,000 of the deductible. If a member is responsible for more than one claim in any NAR policy period, they will be responsible for the entire amount of the NAR deductible. In the event of a claim filing, failure to pay the deductible may be cause for the loss of membership benefits."
It says there is a 5,000 deductible - but the member is only responsible for $1,000. If there is more than 1 claim the member is responsible for $5,000. I assume on the first incident NAR pays the remaining $4,000.
Big difference between 1st & 2nd incident. So, do they really need $1000 or $5,000?
Randy
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I see and, I stand corrected!
I read this as one incident per individual not club. And yes I did receive an Email from Ted Cochran stating close to the same thing but his wording was:
"our insurance policy has a $5000 deductible, of which the first $1000 is the responsibility of the flyer, and the remaining $4000 is paid, when necessary, by the NAR."
Which threw me off, I took this as the NAR may pick up $4,000 of the deductible when necessary but also may not, kind of non-committal.
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