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I had a 21 Eliminator Daytona, 27,32,35 Fountain insured with State Farm. When friends that bought like boats asked where we were insured, I told them. They, in some cases went to the same broker, and were either refused or insured then cancelled after a short time. After a conversation with Sy Goldberg and a couple other people in the marine insurance ind. Allstate, State Farm, Progressive, do not knowingly insure High performance cats and V's. In some cases the local agent can get it through and it may take months and years until they review the policy, then you get that letter! Has anyone that has insurance with the insurance co's metioned above filed a serious loss claim? What was your outcome. Dont get me wrong, I dont like paying what I think are, outragous insurance rates, when the boat is layed up for 6 months a year in the garage, how much risk is that? Remember, when their is a loss, the first thing the Insurance co investigates is if anything on your policy was misrepresented, they would like nothing better than to void the policy for that and not pay out a claim. Not saying Insurance reps are bad...its a business. They are all happy when their is no claims. When they have to pay, it can turn ugly.
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