Getting around cat insurance with a car dealership???
#1
Registered
Thread Starter
Getting around cat insurance with a car dealership???
I just sold my boat and am now looking at some cats..........I know cat insurance is very expensive so every cat I look at, I ask the guy how much he is paying for insurance. This one guy said to me "I own a car dealership, and I have it insured through the dealership for next to nothing." Is there any truth to this???????? And if there is how is it done????
#2
Banned
I just sold my boat and am now looking at some cats..........I know cat insurance is very expensive so every cat I look at, I ask the guy how much he is paying for insurance. This one guy said to me "I own a car dealership, and I have it insured through the dealership for next to nothing." Is there any truth to this???????? And if there is how is it done????
#3
Registered
Join Date: Feb 2003
Location: Houston
Posts: 73
Likes: 0
Received 0 Likes
on
0 Posts
I don't know all of the details but I think as long as it is owned by the dealership it is covered. I know it is that way on the cars but you don't want to even think about paying the car dealership insurance bill as it would make that 2k a month look like a drop in the bucket.
#5
Registered User
Join Date: Feb 2001
Location: Tampa, Indian Shores Beach
Posts: 3,300
Likes: 0
Received 1 Like
on
1 Post
I am not a insurance specialist, however if youhave a car dealership, home, life, Liability, umbrella ........... and everything insured under the sun. I imagine the agent would underwrite a policy for the owners boat. We had a similar situation a few years back like that, when you say you will take all the business away to someone who will insure it, its amazing what can be written. just my exp
WILL
WILL
#7
Registered
Join Date: Oct 2000
Location: Chesterfield Mo/Loto
Posts: 1,378
Likes: 0
Received 11 Likes
on
2 Posts
probable refering to his demo insurance, my uncle has a used car lot along with a marine dealers tag sells boats also, his insurance covers a specific $ amount of inventory say 500,000 total, he purchased a high $ 300,000 carver for resale and had to up his insurance $ amount because it put his inventory over the limit, and i believe that all his boats were insured under his dealers insurance, basicly the boats were always for sale and his insurance covered them as you have to demo the boats. might be a fine line on a 140mph cat. but i can see it happening, im sure these dealers with the high performance cats for sale handle it similarly , im sure they dont insure each individual boat.
later
later
#8
Platinum Member
Platinum Member
I have mine insured with American Reliable, them and Markel wert the only two that I found at the time would do it. There is no way I would try and insure mine through my business too many Liabilities issues to worry about...
Last edited by fountain4play; 03-09-2008 at 01:57 PM.
#9
Registered
Join Date: Jul 2006
Location: Huntington Beach, CA
Posts: 209
Likes: 0
Received 0 Likes
on
0 Posts
probable refering to his demo insurance, my uncle has a used car lot along with a marine dealers tag sells boats also, his insurance covers a specific $ amount of inventory say 500,000 total, he purchased a high $ 300,000 carver for resale and had to up his insurance $ amount because it put his inventory over the limit, and i believe that all his boats were insured under his dealers insurance, basicly the boats were always for sale and his insurance covered them as you have to demo the boats. might be a fine line on a 140mph cat. but i can see it happening, im sure these dealers with the high performance cats for sale handle it similarly , im sure they dont insure each individual boat.
later
later
#10
Banned
[QUOTE=fountain4play;2451926 too many Liabilities issues to worry about...[/QUOTE]
Exactly fountain ,If you can afford the boat why phuck around with the insurance ????? with todays day & age lawyers/lawsuits why even take a chance and have to turn over your house,car,summer home keys if god forbid something did happen ... and as it is i'been told they scrutinize these claims and try to walk away from some
good luck
Exactly fountain ,If you can afford the boat why phuck around with the insurance ????? with todays day & age lawyers/lawsuits why even take a chance and have to turn over your house,car,summer home keys if god forbid something did happen ... and as it is i'been told they scrutinize these claims and try to walk away from some
good luck
Thread
Thread Starter
Forum
Replies
Last Post
ratman
General Boating Discussion
34
10-09-2006 09:15 PM