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10-02-2009, 10:20 AM
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#11
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Offshoreonly Advertiser
 Offshoreonly Advertiser
Join Date: Mar 2001
Location: Ocala, FL.
Posts: 1,242
Paso- Fino Horses
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Insurance
Much of cat insurance is high no question. Here is your reasons why. And it is going to sky rocket if..... This is what is happening, Agents are willing to write a policy on a new cat owners with no experience because they need the sale. I have done a few people this year that should have not been on the water at all . They had enough sense to call and request training.Some dont. As these folks get on the water and something bad happens, a claim is submitted. This is not profitable for the underwriters. The blame goes deep. Todays vessels are more complex than ever and everyone thinks they can drive them. That is why we offer skilled base training, and no more who you may have experience with, it may not hurt to obtain new knowledge that is proven. As far for the high prices, many have brought this on themselves.
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10-02-2009, 10:46 AM
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#12
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Registered
Join Date: Oct 2004
Location: Leesburg, FL
Posts: 637
2001, Eliminator, Daytona 28
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but when the insurance on my 2001 28 daytona with 496 mag ho's in florida is over 3000 there is a problem...plenty of v's faster with much cheaper insurance...i can't even believe the cost on the bigger ones, or more powerful ones..
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10-02-2009, 10:50 AM
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#13
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Registered
Join Date: Feb 2005
Location: Arlington Tx
Posts: 8,918
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Tres would the cat guys save money if they got raceboat insurance? Would be better than none at all IMO.
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10-02-2009, 11:02 AM
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#14
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Offshoreonly Advertiser
Offshoreonly Advertiser
Join Date: Mar 2001
Location: Ocala, FL.
Posts: 1,242
Paso- Fino Horses
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Quote:
Originally Posted by Catmando
Tres would the cat guys save money if they got raceboat insurance? Would be better than none at all IMO.
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Trick is read the poliies very careful. They have many exit clauses, or fund depression on payout.
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10-02-2009, 11:09 AM
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#15
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Registered
Join Date: Feb 2005
Location: Arlington Tx
Posts: 8,918
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"fund depression"??
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10-02-2009, 11:13 AM
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#16
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Offshoreonly Advertiser
Offshoreonly Advertiser
Join Date: Jan 2001
Location: spring valley,ny usa
Posts: 1,353
varied
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Hey Catman !
In your case it's "BRAIN DEPRESSION"
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10-02-2009, 11:18 AM
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#17
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Registered
Join Date: Mar 2007
Location: account disabled
Posts: 134
account disabled
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Raceboat insurance is more expensive; is only valid for testing/racing and will not cover replacement cost of the boat when on the water!
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10-02-2009, 11:31 AM
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#18
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Platinum Member
 Platinum Member
Join Date: May 2007
Location: Toronto Ontario
Posts: 621
28 Pantera
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Why wouldnt some of the owners of the big cats get together and start a captive and tell the insurers to go Phuck themselves?
I know trucking companies have done it and it is working very well. You can also likely get someone to write a catastrophic loss policy and then self insure for the smaller stuff (under 300k maybe?).
I am sure there might be hurdles as far as this is concerned but when you are talking 25k per year to insure and you get a few big cats involved for a couple of years the captive could begin to pay off nicely.
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10-02-2009, 12:03 PM
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#19
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Platinum Member
Platinum Member
Join Date: Oct 2000
Location: Bay Area Houston, TX
Posts: 1,274
40' Flat-Deck Jaguar Cat (USO Champ)
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Quote:
Originally Posted by mike tkach
call stacey at wake zone ins,i did and et saved me some cash.  |
Wake Zone won't write insurance along the Texas Gulf Coast.
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10-02-2009, 03:09 PM
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#20
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Registered
Join Date: Dec 2003
Location: MIAMI FLORIDA
Posts: 152
06 3600 supercat
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Llody's of London for me. High speed cat in florida with hurricane coverage.
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