Guideline for determining if you have a good rate
11-17-2008, 02:23 PM
#21
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I'm glad to hear that your rates are lower than what is on the guide above... that's awesome
11-17-2008, 02:26 PM
#22
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REMINDER:
This is a GENERAL guideline. Works for some, doesn't work for others. If you're lower, AWESOME! Then you have a great rate. This guide was meant to give you a baseline for comparison. If you're above these and NOT IN A COASTAL STATE then you need to give me a shout.
That was the whole point of posting this to show you what you should be paying at THE MOST.
Keep in mind this is based on a clean driving record AND no prior claims.
AGAIN
THIS GUIDE IS NOT VALID FOR FLORIDA BOATERS... sorry.
This is a GENERAL guideline. Works for some, doesn't work for others. If you're lower, AWESOME! Then you have a great rate. This guide was meant to give you a baseline for comparison. If you're above these and NOT IN A COASTAL STATE then you need to give me a shout.
That was the whole point of posting this to show you what you should be paying at THE MOST.
Keep in mind this is based on a clean driving record AND no prior claims.
AGAIN
THIS GUIDE IS NOT VALID FOR FLORIDA BOATERS... sorry.
11-22-2008, 12:55 PM
#23
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It's funny how insurance agents differ. When I was in the process of purchasing my boat, I talked to my SF agent that has my home and auto. She wouldn't touch it. A friend told me about another SF agent and said that I should talk to him. I did and He has had it covered for over 5 years. The rates have remained the same.
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11-24-2008, 09:31 AM
#24
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It's funny how insurance agents differ. When I was in the process of purchasing my boat, I talked to my SF agent that has my home and auto. She wouldn't touch it. A friend told me about another SF agent and said that I should talk to him. I did and He has had it covered for over 5 years. The rates have remained the same.
hahahaha I hear that all the time. It is VERY common with the SF agents out there. It's weird. I got a call the other day. Guy was being cancelled on his Fountain by State Farm after the agent had already placed coverage on it. Prior to that I had some shopping their 36 Spectre (also insured with State Farm for $900 per year) and it was well over 100mph....
I don't get their logic... never have and doubt I ever will...
01-14-2009, 03:22 PM
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Someone is misrepresenting somewhere and it will bite either the agent who did it or the insured who signed the application...
Last edited by WakezoneINS; 01-16-2009 at 10:33 AM.
01-28-2009, 07:36 PM
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OK... Here is the best thing I can give you all for determining if you have a good rate. It is not 100% accurrate and is a mere guideline, it's not a quote, it's not a promise, it's nothing contractual. There are many factors that can make these guidelines inapplicable to you personally. This is my own personal opinion of where rates should be based upon all the quotes I've done in the past. This is just my assumption of average rates. This should in no way be construed as a representation of any particular carriers rates as I write for many carriers. However, this is the best I can give as a guideline tool:
If you have a V-Hull Performance boat
Under 60 mph:
Take the agreed value of your boat or the Limit of insurance and divide that number by 100 and then multiply the number you get by .65. Your premium should be around this number give or take a couple hundred dollars.
Example Calculation: $100,000/$100=$1000*.65=$650 per year
61-80 mph:
Take the agreed value of your boat or the Limit of insurance and divide that number by 100 and then multiply the number you get by .95. Your premium should be around this number give or take a couple hundred dollars.
Example: $100,000/$100=$1000*.95=$950 per year
81 - 90mph:
Take the agreed value of your boat or the Limit of insurance and divide that number by 100 and then multiply the number you get by 1.10. Your premium should be around this number give or take a couple hundred dollars.
Example: $100,000/$100=$1000*1.10=$1100 per year
90 - 130mph: This classification of boats is VERY different from boat to boat and owner to owner. The rate heavily relies on experience of high speed boats. The more experience, the lower the rate.
Take the agreed value of your boat or the Limit of insurance and divide that number by 100 and then multiply the number you get by 1.25 - 2.00. Your premium should be around this number give or take a couple hundred dollars.
Example: $100,000/$100=$1000*1.25 to 2.00=$1250 to $2000 per year
FOR CAT HULL OWNERS:
If your speeds are 80+mph: Again, this category is highly dependent upon your experience.
Take the agreed value of your boat or the Limit of insurance and divide that number by 100 and then multiply the number you get by 2.5. Your premium should be around this number give or take a couple hundred dollars.
So, again, this is a guideline to help you determine the ballparks. If you calculate what your expected rate should be according to the guideline and you find you are much higher, then please contact me so I can get your information and hopefully try to save you money. Thanks!
If you have a V-Hull Performance boat
Under 60 mph:
Take the agreed value of your boat or the Limit of insurance and divide that number by 100 and then multiply the number you get by .65. Your premium should be around this number give or take a couple hundred dollars.
Example Calculation: $100,000/$100=$1000*.65=$650 per year
61-80 mph:
Take the agreed value of your boat or the Limit of insurance and divide that number by 100 and then multiply the number you get by .95. Your premium should be around this number give or take a couple hundred dollars.
Example: $100,000/$100=$1000*.95=$950 per year
81 - 90mph:
Take the agreed value of your boat or the Limit of insurance and divide that number by 100 and then multiply the number you get by 1.10. Your premium should be around this number give or take a couple hundred dollars.
Example: $100,000/$100=$1000*1.10=$1100 per year
90 - 130mph: This classification of boats is VERY different from boat to boat and owner to owner. The rate heavily relies on experience of high speed boats. The more experience, the lower the rate.
Take the agreed value of your boat or the Limit of insurance and divide that number by 100 and then multiply the number you get by 1.25 - 2.00. Your premium should be around this number give or take a couple hundred dollars.
Example: $100,000/$100=$1000*1.25 to 2.00=$1250 to $2000 per year
FOR CAT HULL OWNERS:
If your speeds are 80+mph: Again, this category is highly dependent upon your experience.
Take the agreed value of your boat or the Limit of insurance and divide that number by 100 and then multiply the number you get by 2.5. Your premium should be around this number give or take a couple hundred dollars.
So, again, this is a guideline to help you determine the ballparks. If you calculate what your expected rate should be according to the guideline and you find you are much higher, then please contact me so I can get your information and hopefully try to save you money. Thanks!
01-28-2009, 10:00 PM
#28
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I would be more than happy to talk to you about your boat and see if we can find you something better and cheaper than your existing coverage. Give me a shout or PM me your number and we'll see what we can come up with.
Stacy
