292 Insurance: What do you pay?
 

I know this has been asked plenty of times before but I'm looking at possibly getting an 06 leftover 292. I'm trying to get a feel for how much insurance is going to run me. It's my first boat, and I'm only 23 years old. Probably going to have a 6 or 7 month lay up time. I would like to hear what other 292 owners are paying to get a feel of what to expect.

About $900 /year for my 2003 292, 6.2's. I do have 2 tickets on my driving record right now so it should drop next year when those fall off my record.

On the 02 292 I traded to Magicfloat, it was app. 800.00 per year with State Farm.(2 yrs ago)

Depends on where you're located. I was getting quotes from Progressive around $1500/year in south Louisiana

I'm in PA but I boat in NJ. I got a quote from progessive at 1500/year, seems a little high being that I put lay up time from October to May. But then again it is my first boat and I'm only 23 but I'v been driving boats for 15+ years, just not my own. I've got a clean record as well.

mine is a staggering 285 a year :)

In NJ $1950.00 with a clean record no tickets since 1981.Just don't just shop price you want a policy that will pay if needed

btw, when my regular agent got a quote from Progressive it was much higher than the same policy from Progressive quoted through a marine insurance specialist.

I tried to give the business to my regular agent, but the difference was almost 50% for the same policy.

I've gotten 3 different quotes from Progressive on the same boat checking through different agents and through Progressive direct. Direct was the most expensive.

1500 sounds about right. Three years ago I was 23 and had a 1991 formula 311 and I was paying around 1400 a year with a 6 month lay-up in Minnesota.

So from what I'm getting, I should try to find a marine specialist? Seems to be that everyone is recommending Progressive. Are there any other companies I should look into.

Browse throught the insurance forum and start writing down numbers. Call everyone you can find. Worldwide, Elton Porter, Total $, etc.

State Farm at least try them, I know my boat is older but they where half everyone else

Depends on your agent. Mine couldn't get me covered in any Fastech model. But there are guys on OSO with 382 Fastech's covered by State Farm so who knows. If they will cover it they'll probably be the cheapest....

Check with the company that has your home owners insurance(mine is through Nationwide) and they gave me the best rate on my last renewal on a 27pc. State Farm had my P/Q 34 Vyper with 500hps and they also had my 02 292 fastech.

Talked to the guy from Total Dollar, said he couldn't get me on any plan due to my age. Said I needed to be at least 25. This might bring up a whole new issue. I'm sure there's gotta be someone out there who will insure me.

That would explain alot,,,I'm more than twice your age.

Hey Split, try this guy - He handles Progressive, which was one of the only companies who would insure me b/c of my speeding tickets, but as a marine insurance specialist he was able to access a lower rate set that my regular agent could not.

Shawn Wiley
Marine Underwriter
Global Marine Insurance Agency
(231) 932-1060
(231) 947-4753
[email protected]

We insure our '06 292 twin 6.2's through American Family for $900/year (we have our home and cars insured under American Family). I am 41 years old. Plan to take a safe boating course which will knock another $100-$200 off per year.

2001 Formula 382 dual gas motors with whipples - $1898 a year

1994 Sunseeker 48' with triple gas $1587

AIG Private Client Group Insurance

In Texas -- 1300 a year with State Farm for a 2007 292

2001 292 twin 350mags $454.00year 36yrs old Ohio State Farm

I am 29 with a couple dings on my record. I paid $550 a year when I lived in Virginia. I now pay $1800 per year in Florida cause "you can boat year round." Haha.

875.00 in ohio 03 292 377's , young guy of 50 years, clean record, state farm

I think I pay about 1300 or so for the18 Donzi and the 311 together. May be a little cheaper not 100% sure.

Try this guy, from Formulaboatsforum, lots of guys use him and they say he beat most other companies and better coverage.

Website link www.jwterrill.com/formula

Contact Info
Dave Webb
Account Executive
J.W. Terrill
Insurance, Benefits & Risk Management
16091 Swingley Ridge Road
Chesterfield, MO 63017
Phone: 636-728-7678
Fax: 800-530-3365

Read their stories

http://formulaboatsforum.com/forumte...p?topic=1756.0

2003 Fastech 292
National Marine Underwriters
$700 a year

check out Dave Webb over at the Formula forum, quite a few people over there are insured with him. he writes for Markel.

Gotta shop around
 

I have not insured my 86 - 272 yet, need to shop around. I got a quote from someone here that Stacey referred me too. About $500 a year to cover liability and oil spill if it sinks or something like that. No insured value on boat for loss, theft or damage. $500 seems high with stock 260's.

Oh, 42 and clean record with previous boating experience of about 4 years I think.

Brian

Wow, I'm suprised at the disparity...young guys with tickets low, old guys with clean records high, no rhyme or reason I guess. I'm in the average so I guess I can't complain.:whistle:

I think it more depends on where you live. My driving record was the same when I lived in Virginia before I moved the boat to Florida. I was told by multiple insurance companies that it wasnt me or the boat, it was the location where my boat is kept. I was very surprised at how limited my options were to insure my boat in Florida because not all companies will.

I find it funny that a lot of 292 owners have State Farm. I went to them when I was in Virginia, they wrote me a policy and I gave them my money. A month later they told me they couldn't insure my boat because it was high performance and at the time my house was too close to open water. (I kept the boat on a lift behind my house).