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ready for a cat..... CANT GET INSURANCE

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Old 11-30-2005, 08:49 PM
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Default Re: ready for a cat..... CANT GET INSURANCE

Believe it or not Sate Farm will insure high performance boats but the only problem is the boat cannot be kept in a marina or within 5 miles of the water so if you live in TX and are not to close to a lake it might work for you. They quoted me $2650 here in miami but I would have had to lie about where I keep the boat and I didn't want any problems down the road. I have Markel, my 1st year was $4800 but is has dropped every year and I am down to $3600 a year. I have a 2002 28 Daytona with 496 mags (not HO) and the boat runs 85. But I have year round coverage. The local Eliminator dealer was the one who turned me on to State Farm he had a 36 Daytona with 525's insured with them. If your buying a $150,000 spectre who cares if the insurance is $8000 suck it up, if you want to run with the dogs you can't piss like a puppy!

Better than having a bumpy riding slow V bottom... and $1500/yr insurance.
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Old 11-30-2005, 09:22 PM
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Default Re: ready for a cat..... CANT GET INSURANCE

I was advised strongly by my attorney and my business insurance carrier to stay away from Loyds or any other Non US companies because they operate under Non US laws...who really knows what they might be until you try to collect.
Loyds would have been a last resort.
Ive also "heard" that Tres' class will help.
Good luck and let us know what you find.
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Old 11-30-2005, 09:46 PM
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Default Re: ready for a cat..... CANT GET INSURANCE

I sent them an email today, and had a friend of mine do some research and i was told that they are a AA Rated company and are well known threw the larger insurance companies. Buddy of mine was quoted $100K worth of insurance on a 32 skater with a pair of 750's and multiple years of cat insurance and a clean drivers record around the $2k mark.


International Water Safety Foundation
pH: 1888-346-4673
fax: 1 888 346 4674

905 Michele-Bohec
Suite 204
Blain Bille, QC J7C5J6


E:mail [email protected]

Referall Code: 162578
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Old 11-30-2005, 09:50 PM
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Default Re: ready for a cat..... CANT GET INSURANCE

8000.00 i cant suck up...(wont suck up) i enjoy boating
but everyone has to boat in their own league...the 36 spectre
i can handle....but the insurance is as much as the note on the boat...for now that puts it out of my league....
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Old 11-30-2005, 09:56 PM
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Default Re: ready for a cat..... CANT GET INSURANCE

chad i'm with ya...i have a 30 spectre outboard cat and i'll go to $3K thats it...if when my renewal comes its more then that there will be a gorgeous 30 spectre for sale
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Old 11-30-2005, 10:51 PM
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Default Re: ready for a cat..... CANT GET INSURANCE

Quote:
Originally Posted by chad1
8000.00 i cant suck up...(wont suck up) i enjoy boating
but everyone has to boat in their own league...the 36 spectre
i can handle....but the insurance is as much as the note on the boat...for now that puts it out of my league....
If you want this boat youll keep trying.
These two are from Oct 05 issue of Hot Boat

Dianne Thompson State Farm
714-698-0202

This next guy they say is an "Insurance God" and thats how
its printed in the magazine.

Shawn Wilson Empower Solutions & Ins. Services
714-895-7050

Also ask him about the online boater safety class.(whatever helps.)

Let us know what they come back with
Good Luck
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Old 11-30-2005, 11:14 PM
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Default Re: ready for a cat..... CANT GET INSURANCE

Quote:
Originally Posted by warbird
How 'bout your local Power Squadron course, or a CG refresher course. (Jesus, are they gonna' think I'm old-fashioned now, or what?!) Seriously, nothing wrong with improving your HP driving skills with Tres, or that he doesn't also improve your seamanship. BUT, the insurance companies always ask whether or not you've.....and that's what they know about, and what they're set up to discount for.
Definitly and thanks I didnt even know what
Power Squadron was.
Best believe when its my turn Im gonna take every course
there is no matter how redundent the classes might be.
But if its gonna help lower that Insurance premium its well
worth it.
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Old 11-30-2005, 11:47 PM
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Default Re: ready for a cat..... CANT GET INSURANCE

I guess if your financing it I can see where the insurance gets expensive. Find a 36 without so much power and the insurance won't be as much. But call State Farm that may solve your problems.

Good Luck
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Old 12-01-2005, 07:49 AM
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Default Re: ready for a cat..... CANT GET INSURANCE

Dont try to submit so many applications, they all wind up on the same desk in the end. That in turn throws up a red flag because every agent may put something different. And 8000. for a cat is one thing after taking the performance boat class you can save up to 10% so that want take a little off the edge Check it out www.performanceboatschool.com
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Old 12-01-2005, 09:14 AM
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Default Re: ready for a cat..... CANT GET INSURANCE

Quote:
Originally Posted by bcschoe
<edited quote>...While I will always support all boating courses and continue to support the value of self education, any power boater will benefit from this course regardless of their background and experience level.
My insurance rates went up again this year and Iím sure they will continue to increase. If we want to save the last place on earth where we can enjoy virtually limitless performance freedom we must all take a pro-active role in the self preservation of this sport. Some will argue the number of accidents and deaths do not support the problem is with performance boats and the real problem is with smaller open family boats. But at some point perception becomes reality and the high profile and unique visibility of performance boats only attracts opportunity for regulators to regulate.
Tresís course is not a jokeÖ. The availability and cost of proper insurance is not a jokeÖ. The risk of losing our performance playground is not a joke.
For the recordÖ I have taken Tresís course. I am an active duty U.S. Coast Guard Officer, I own a T/S Top Gun, I have taught Coast Guard Boating Safety courses with the Coast Guard Auxiliary. I maintain a 100tT masterís license....
Brad Schoenwald
This is possibly one of the best, and smartest post I've read in a while.
I've been around boats all my life. Many many years ago I took a USCGA basic boating safety course for no other reason than to save on insurance. It was quite the learning and humbling experience. Although I felt confident in my boat handling skills, I realized much of what I "thought" I knew of laws and regulations was really hearsay from others who also had no clue. I was so impressed that I became a member of the Coast Guard Aux, and soon an instructor for those same BS&S safe boating courses. When I moved to Kansas I got away from the Missouri Coast Guard Flotilla, but I am still an instructor for the Kansas Wildlife & Parks Rec Boating Division which is accepted and endorsed by the USCGA.
My point? I would Highly suggest and recommend a safe boating course to everyone who may ever be on board or in control of any boat or PWC regardless of size or power. Whether it be the US Coast Guard, Power Squadron, or whatever local or state organization that is recognized by the USCGA. To my knowledge, every reputable insurance company offers some type of discount for successfully completing one of these courses. Besides, you may be surprised at what you learn.
I would also recommend any experienced boater look into Tres Martins performance boaters school. Just because you have a fast boat doesn't automatically make you a good driver. Neither does having racing experience. Any idiot can push a throttle to the wood. But a good driver knows when to back off. Although I myself have been known to participate in a race here and there, I would love to participate in the Tres Martin school. Just tapping into his experience would be well worth the money and time.
Your Insurance agent can tell you whether you would save even more on your insurance after Tres's school above and beyond a basic boating safety course, but regardless, it sure can't hurt.
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