I don’t think the boat owner’s insurance covers this. IIRC, there’s a rider on non-coverage for terrorism. Stinks for them.
What about a reward for finding the terrorist bastard? Why can’t the swat and the rest of them pool their own money to by this man a new boat?
This man FOUND what hundreds of law enforcement could not.
He should be rewarded. At least with a new boat, and a little something for the emotional drama.....AND THE BRAINS TO CALL IT IN!
Yes, insurance policies can have exclusions for terrorism, however this may not meet the definition of a terrorist act. Government insurrection maybe. There was a bit of overkill by the local shoot em up take no prisoners police, but there is a fund to pay for these things by most municipalities. The kid did not do the damage. There even seems to be evidence he couldn’t even move when the gun battle began, and didn’t return fire. Generally terrorism must be conducted by a foreign entity as well. Otherwise its riot, civil commotion, vandalism, etc.
There are still the options of filing a claim with the city, the police, etc. Also, there is the last ditch “casualty loss” deduction (everything over 7.5% of AGI or something). Also, there may be a clause in his homeowner’s insurance that will cover it.