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Insurance for Your "Other" Boat

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Old 05-02-2006, 03:13 PM
  #1
Joe
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Default Insurance for Your "Other" Boat

Hey Guys,

I'm ready to close a deal on a 2nd boat (which I'll keep here in Houston and send my TG to the lower keys, longterm, where my father-in-law has just purchased a vacation home).

My current insurance company (whom I'll leave nameless) is telling me that since I live in Houston and want to keep the TG in the keys, insurance will be thru the roof -- appx. 9k for an '03 w/ 525 EFI's. I have a strong credit rating and no tickets on my record (except the one I just got on my way back from Havasu --- which I will take defensive driving to remove).

For comparison, my TG cost me appx. $2500 to keep it here in Htown ---- Problem (says the insurance company) 1. keeping it at a location other than where I reside and 2. Hurricanes causing these "off-site" boats to become more and more expensive.

Has anyone else found a better deal (with "A" level coverage)?
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Old 05-02-2006, 06:36 PM
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good2go38
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Default Re: Insurance for Your "Other" Boat

Can you insure it for non hurricane related damage and move it if a hurricane comes?
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Old 05-02-2006, 09:02 PM
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'05 Concept SF23
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Default Re: Insurance for Your "Other" Boat

Try Ameican National Property and Casualty. They will want all your business but will insure high performance boats as part of their package and all things considered they were very reasonable and good service. You might also get your father in law to insure the FL house with them also to grease the skids.
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Old 05-02-2006, 09:11 PM
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Can you insure it for non hurricane related damage and move it if a hurricane comes?
???
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Old 05-02-2006, 11:58 PM
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Default Re: Insurance for Your "Other" Boat

Quote:
Originally Posted by Joe
Hey Guys,

I'm ready to close a deal on a 2nd boat (which I'll keep here in Houston and send my TG to the lower keys, longterm, where my father-in-law has just purchased a vacation home).

My current insurance company (whom I'll leave nameless) is telling me that since I live in Houston and want to keep the TG in the keys, insurance will be thru the roof -- appx. 9k for an '03 w/ 525 EFI's. I have a strong credit rating and no tickets on my record (except the one I just got on my way back from Havasu --- which I will take defensive driving to remove).

For comparison, my TG cost me appx. $2500 to keep it here in Htown ---- Problem (says the insurance company) 1. keeping it at a location other than where I reside and 2. Hurricanes causing these "off-site" boats to become more and more expensive.

Has anyone else found a better deal (with "A" level coverage)?

Who insures it here in Houston? I am looking at a 37 Active Thunder and was told that Texas Gulf Coast and Florida expect to pay between 2-3.5% of value annually. You better hang on to that $2500 a year. A couple of my friends in Houston went from $2500 to $6000 at renewal. They decided to sell both Top Guns. I have been referred to Bob Luellen---Worldwide Marine---800-339--1235. I hear he is good. Let me know if you solve that problem.
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Old 05-03-2006, 09:27 AM
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Joe
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My Boats: '03 Lip-ship Gladiator - Purchased (Not from Lip-Ship) w/ worn out Merc's posted on OSO Classifieds and told to me had "Fresh Motors." Wish I would have gotten to Philly's 1 Day Sooner and bought the Gladiator he sold to Tommy!!!
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Default Re: Insurance for Your "Other" Boat

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Originally Posted by crb76
Who insures it here in Houston? I am looking at a 37 Active Thunder and was told that Texas Gulf Coast and Florida expect to pay between 2-3.5% of value annually. You better hang on to that $2500 a year. A couple of my friends in Houston went from $2500 to $6000 at renewal. They decided to sell both Top Guns. I have been referred to Bob Luellen---Worldwide Marine---800-339--1235. I hear he is good. Let me know if you solve that problem.
TG is thru Total Dollar.

Re: Worldwide - I hear they write thru Progressive, which is ultimately via Collier/Markel, I believe.
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Old 05-03-2006, 11:03 AM
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Default Re: Insurance for Your "Other" Boat

I talked to the Total Dollar guys and they told me 3% of value annually for Clear Lake/ Galveston. I just about fell to the ground with a heart attack. I just think if you store the boat in Texas or Florida you are screwed. Total Dollar told me if I keep the boat in Lake Travis, then it would be about 1% of value. Go figure. When are you up for renewal?
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Old 05-03-2006, 11:28 AM
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Joe
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My Boats: '03 Lip-ship Gladiator - Purchased (Not from Lip-Ship) w/ worn out Merc's posted on OSO Classifieds and told to me had "Fresh Motors." Wish I would have gotten to Philly's 1 Day Sooner and bought the Gladiator he sold to Tommy!!!
Posts: 1,834
Default Re: Insurance for Your "Other" Boat

[QUOTE=crb76]I talked to the Total Dollar guys and they told me 3% of value annually for Clear Lake/ Galveston. I just about fell to the ground with a heart attack. I just think if you store the boat in Texas or Florida you are screwed.

Don't know what to tell you!!! [email protected] hurricanes.


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Total Dollar told me if I keep the boat in Lake Travis, then it would be about 1% of value. Go figure. When are you up for renewal?
Hopefully, NEVER!!!!!
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