plexoer

When buying a used 10 year old boat. When you tell your insurance company how much HP your boat has, should you tell them what it came with factory (say 400HP?) Or if you have modified that engine would you tell them 600 HP? Saying 400 seems like the obvious answer because it would match the H.I.N number, however it seems like it could back fire if something ever went wrong. Thanks.

sy goldberg

Claim denied,material misrepresentation.

plexoer

That is kind of what I was thinking, however how would they know unless they did a dyno on the engine? Which more then likely would have been damaged, and not run if you are fileing a claim involving the engine in the first place. Also I have no intent of lying, I was just curious as a new boat owner. Thanks

sy goldberg

Do not underestimate marine insurance claims adjusters,divulge everything up front.

Wozencraft

I agree with Sy on this. Insurance companies and their claims team will look at the engine, especially with high performance boats. It is possible a claim could be paid if a claims adjuster didn't catch an engine change or modification, but I wouldn't gamble it....my opinion.

There was a loss to a boat in So. Cal. off the coast on Catalina Island where a boat sank. After the boat was raised and brought back to the ship yard it was noticed that there was a large blower mounted on top of the motor. The insurance policy stated 300hp.... Claim was denied.

I hope this helps.

Devin Wozencraft

plexoer

Yes this does help, I was just curious how it all worked . Any reccomendation for insurance company for a high HP boat (750)

Wozencraft

I have a few insurance companies that could write a boat with 750+ hp boats. One that comes to mind is the new program we have through Chartis Insurance. I would be happy to offer you a proposal. You can input your info. at my website: www.wozencraftinsurance.com or PM me your number and I'd be happy to call you.

Sy Goldberg also has a good program to offer. He can be reached at: 856-767-8134

Thanks,

Devin

plexoer

Form has been filled out.

Thank You,
Matt

searaycer

exactly why I did not lie...why pay for a policy that is no good if you do have a problem.

plexoer

Yes definitely, I would hate having the thought of having what if in the back of my mind.