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Insurance Question

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Old 05-16-2005, 11:13 PM
  #11
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Default Re: Insurance Question

It is now a consideration when buying a new boat (mainly cats) unlike before when it was just an additional expense.
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Old 05-16-2005, 11:14 PM
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Default Re: Insurance Question

Quote:
Originally Posted by buck183
I'm confused. State Farm is "into it". They insure all kinds of high performance boats that I know of.

Buck
The definition "high performance boat" is the question here.
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Old 05-17-2005, 12:09 AM
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Default Re: Insurance Question

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The definition "high performance boat" is the question here.

They insure my 28 Pantera.
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Old 05-17-2005, 12:44 AM
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Default Re: Insurance Question

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Originally Posted by P Offshore
Even large insurance companies "reinsure" some of the risk and there is no market for that, so you would be the new guy on the block trying to reinsure with Markel and Ace and it would be very hard to compete without an existing client base of low risk customers in todays market.
For the last two yrs Total Dollar has told me they had the reinsurance in place but couldn't find some one to write the potiential intial losses. Doesn't make sense to me as I thought the reinsurance would be the hard part.
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Old 05-17-2005, 07:14 AM
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Default Re: Insurance Question

Quote:
Originally Posted by License To Thrill
You CAN get cat ins. but you WILL pay. I haven't called this guy but I have my cat insurance through Markel. His name is Elton Porter.

www.epboatins.com

For those of you who don't take EB Mag there was a meeting of insurers and manufacturers at the Miami boat show last Feb. Better deals for us are on the horizon!

The article was very informative, read it yesterday. I think you will see more training schools coming into play, and Tres Martin is one of them.
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Old 05-17-2005, 07:50 AM
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Default Re: Insurance Question

Hey, and lets remember some of us only use the boat once a week if were lucky. My average is 2-3 times a month as long as the trips are short.
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Old 05-17-2005, 07:51 AM
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Default Re: Insurance Question

Quote:
Originally Posted by Griff
They insure my 28 Pantera.
They also insured my Scarab I recently sold. My agent has given me several quotes on boats I have been looking recently too. Some of those boats include Active Thunder, Cigarette Bullet, 28 Apache, 33 Outlaw, and Pantera. I was given quotes without any reservations. My previous policy was never questioned at all and it WAS an agreed replacement value policy. I made that very clear going into the deal.

We've had this "State Farm" discussion on here more times than I can remember. It all boils down to the region you are in and the agent you have. The bottom line is they do and will insure our boats depending on the situation. I had my last policy for three years and I had one price increase that was $25.

Buck

Last edited by buck183; 05-17-2005 at 07:55 AM.
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Old 05-17-2005, 07:59 AM
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Default Re: Insurance Question

Give us some credit for building a carreer and working hard enough to buy one of these boats. Just because it goes fast doesn't mean were not responsable enough to make decisions running. Those that are careless will come into light quick. They have to know there are going to be some claims. Those, they weed out.
I said before how many claims to the insurance co. involves having the boat in the first 6 months, or by the ones new to that type(size,twins,V,Cat)
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Old 05-17-2005, 08:22 AM
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Default Re: Insurance Question

Quote:
Originally Posted by License To Thrill
You CAN get cat ins. but you WILL pay. I haven't called this guy but I have my cat insurance through Markel. His name is Elton Porter.

www.epboatins.com

For those of you who don't take EB Mag there was a meeting of insurers and manufacturers at the Miami boat show last Feb. Better deals for us are on the horizon!
I agree, in most cases you CAN get insurance for a price. There are a few cases however when you just CANNOT. I know of where an experienced boater could not get a policy written on a certain brand of boat ( with big power), he ended up buying a different brand and had no problem.
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Old 05-17-2005, 08:28 AM
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Default Re: Insurance Question

Quote:
Originally Posted by buck183
They also insured my Scarab I recently sold. My agent has given me several quotes on boats I have been looking recently too. Some of those boats include Active Thunder, Cigarette Bullet, 28 Apache, 33 Outlaw, and Pantera. I was given quotes without any reservations. My previous policy was never questioned at all and it WAS an agreed replacement value policy. I made that very clear going into the deal.

We've had this "State Farm" discussion on here more times than I can remember. It all boils down to the region you are in and the agent you have. The bottom line is they do and will insure our boats depending on the situation. I had my last policy for three years and I had one price increase that was $25. Buck

Try to get them to write a policy for a boat with over 700hp a side and/or a top speed over 120mph, it seems these are the points most insurance companies walk away from.
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