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Help! Decision on boat purchase based on INSURANCE!

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Old 03-30-2006, 10:02 AM
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Default Re: Help! Decision on boat purchase based on INSURANCE!

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Originally Posted by CigDaze
That's interesting, I thought Progressive won't tough anything with over 500hp per side. You might want to check that out. [/b]
I see your point, but why then would they give him a quote if he doesn't meet several guidelines?

I keep telling him to make sure Progressive knows exactly what they are insuring.
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Old 03-30-2006, 10:04 AM
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Default Re: Help! Decision on boat purchase based on INSURANCE!

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Originally Posted by Harper220
Maybe it's age and driving records?
The high insurance pricing & huge increases I would say have more to do with the area lived in...
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Old 03-30-2006, 10:06 AM
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Default Re: Help! Decision on boat purchase based on INSURANCE!

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Originally Posted by Harper220
I see your point, but why then would they give him a quote if he doesn't meet several guidelines?

I keep telling him to make sure Progressive knows exactly what they are insuring.
That's a good question. Occasionally some agents can get a little creative, but that won't change the fact that if you ever need to file a claim or collect, there may be problems.
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Old 03-30-2006, 10:15 AM
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Default Re: Help! Decision on boat purchase based on INSURANCE!

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Originally Posted by CigDaze
That's a good question. Occasionally some agents can get a little creative, but that won't change the fact that if you ever need to file a claim or collect, there may be problems.
He's never turned in any nickel and dime claims, such as dock gouges. That usually just comes out of pocket. So, I guess since 1987 he's never turned in one claim. That's gotta help some.

Still, the big question is? What happens the day something big happens?
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Old 03-30-2006, 10:30 AM
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Default Re: Help! Decision on boat purchase based on INSURANCE!

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Originally Posted by Harper220
Still, the big question is? What happens the day something big happens?
Bob Luellen from Worldwide discussed this w/ me awhile ago.
I was paying $700 w/ progressive for 330hp 1995 24pantera($24000 value), full yr no layup.
After rebuild, I was nervous about this same situation w/ 560hp. Bob quoted me 780 w/ a 6mo layup for the 560hp(32,000value).

I'm in NY, so I layup anyways. Seemed cheap upgrade for the pc of mind.

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Old 03-30-2006, 10:50 AM
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Default Re: Help! Decision on boat purchase based on INSURANCE!

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Originally Posted by asap
Sorry to hear your dilemma.....I'm in Nj and just finished deal on new 38 Donzi ZR. The $5 G amount for the insurance is certainly the range I'm paying in. But then, since I'm fairly new to this caliber of boating, wasn't sure if that was over the top or not when I inked the deal for the boat. Since then I've found that the real problem seems to be (short) supply of actual insurers who want to cover anything that goes more than 55mph.....
so i guess we pay to play.......
Can anyone else add their insight to this?
$5K sounds crazy expensive for a V bottom - did you do much shopping around?\

What kind of power are you running?
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Old 03-30-2006, 11:40 AM
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Default Re: Help! Decision on boat purchase based on INSURANCE!

[QUOTE=bglz42]http://www.offshoreonly.com/forums/s...ight=insurance

i guress i just dont worry too much.
hell the world could freeze over next yr
if ins gets out of line sell it and loose a few bucks is worst case right?
human nature is to survive and you will figure out hwat to do if it does go up..
hey it might go down..
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Old 03-30-2006, 02:47 PM
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Default Re: Help! Decision on boat purchase based on INSURANCE!

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Originally Posted by CigDaze
That's interesting, I thought Progressive won't tough anything with over 500hp per side. You might want to check that out.


http://watercraft.progressive.com/Corporate/types.asp
Shop > Boat/PWC >

Boats/PWCs We Insure

You can insure the following types of boats/PWCs with a Progressive DirectSM or Drive® Insurance from Progressive boat policy. Click on a link for a more detailed description and a picture of the boat.
Runabout
Mini Jet Boat
Sailboat
Pontoon
House Boat
Cabin Cruiser
Bass Boat
Other Fishing Boat
Personal Watercraft
Homemade Boats (Liability Only)


The following coverage is not available:

* Physical Damage coverage on boats more than 15 years old AND worth more than $20,000
* Physical Damage Only policies
* Engine/Motor Only coverage

The following cannot be insured with your Progressive Direct or Drive boat policy:

* Boats over 50 feet in length and/or with values over $250,000
* PWC valued over $27,000
* Boats with max speed exceeding 75 mph
* Bass boats with max speed exceeding 90 mph
* Boats with engine horsepower greater than 500 for a single engine or 1,000 for twin engines
* Boats equipped with over-the-transom exhaust or exposed inboard engine(s)
* Boats with more than two motors (other than trolling motors or “kicker” motors)
* Wood, steel, ferro cement or performance catamarans/tunnel hulls
* Boats that do not meet published U.S. Coast Guard standards
* Boats principally docked/moored/stored in Massachusetts, New Jersey, District of Columbia, Canada, Mexico or Puerto Rico. Principally docked/moored/stored is defined as at least 6 months in a given state or location.
* Boats used as a primary residence (“Live Aboards”)
* Boats used for any business or commercial purpose, including, but not limited, to: pickup or delivery of goods, limousine or taxi service, emergency services, food concessions or commercial fishing (including netting and trapping)
* Boats used for racing or speed tests (except sailboats)
* All amphibious land boats, hovercraft or airboats
* Foot pedal/paddle, steam, glass bottom and ice boats (sailboat)
* Homemade boats with Physical Damage coverage
* Homemade boats without a serial number
* Houseboats that do not have motors
* Boats leased or rented to others by the insured
* Any boat on consignment
* Boats with more than two owners
So the ZR does not go over 75 MPH???
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Old 03-30-2006, 02:48 PM
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Default Re: Help! Decision on boat purchase based on INSURANCE!

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Originally Posted by rickdarling
Likewise, I have Progressive. $960 a year for a 95 35' Lightning. You may want to give them a call.
How fast is your lightning??
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Old 03-30-2006, 02:51 PM
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Default Re: Help! Decision on boat purchase based on INSURANCE!

dont bs the ins company..
that will bite u bad if u ever have a need for them!.. could ruin your life forever.. i wouldnt f- with that,,
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