Originally Posted by WakezoneINS

I addressed this at one point but can't find my original thread... haha anyways.


This was the question asked of me: "

Insurancegoddess, If your getting your 1st small cat(under 30ft) what are some things to stay away from as far as sizes, top speeds, ect that increase the insurance cost the most? Are some brands cheaper to insure than others, E-ticket, DCB, Nordic, Redline?

To insure a 100K small cat, under 30ft, around 100mph, 7 month layup what could someone expect to pay % wise to cost, used in Kansas & Missouri only?


HERE WAS MY ANSWER.....


Before I respond, I want to say that I've never seen a CAT rate dip under $2.00 per $100 in coverage. So, now on to answering your question..

The following is the ideal situation (best rates) if you are looking to get into your 1st CAT (note I didn't say first boat that is a cat):

1. 35 years or older
2. no more than 1 minor MVR violation in the past 5 years (NO MAJORS ex. DUI, Reckless)
3. at least 5 years of total boat ownership experience (this can be a boat of any kind)
4. top speed of vessel UNDER 100mph
5. The boat should be 26' and greater, single engine (stock). Anything under 26' is harder to insure due to the lack of available carriers for under 26'

Different rules apply if you are under age 35 or if you are a new boat owner entirely and the CAT is the first boat owned.

If you want the cheapest program available then you want to keep the top capable speed under 75mph top speed.

Hope this answers your question.

Originally Posted by ronniels3

Sorry I said you couldn't insure a 24. But you told me you had no program in Broward county that would write a 24 with twin 280's. I am now contemplating a 28 with twin 300's. Maybe you can help me there.

Originally Posted by WakezoneINS

Not a problem but I think you confused much of our conversation. I can insure any boat in any of the Southern Florida counties. There are however some programs that will not write and/or will restrict coverage in certain counties. Example of this is theft coverage is sometimes excluded in those counties by Markel. I won't get into a long drawn out response but the bottom line is that I can insure you on any vessel, even in Southern Florida. However, there are minimum premiums associated with some of these carriers and from my notes on our conversation, those minimum premiums charged were the issue not my ability to get you a policy.

Originally Posted by Dean Ferry

Nice talking with you today Stacy, I'll be sending you that info.
Thanks,
Dean