CAT sales/resale value due to Insurance
 

I was wondering with insurance so hard to get on cats, if this will reduce the resale value???? I would think so, I was thinking of a cat until I saw the insurance. Any thought from other members.

it stand to reason if you can't insure it you couldn't get a loan on it and that would knock out allot of buyers?? Of course if you had to get a loan maybe you can't afford the insurance??

WILL :drink:

Re: CAT sales/resale value due to Insurance
 

yea i was about to trade this week until i got my latest quote :mad: :mad: something gotta give

Re: CAT sales/resale value due to Insurance
 

I would think that the big time Million or so dollar cats are self insured. I wonder though.

Re: CAT sales/resale value due to Insurance
 

Self insure is a big risk, but I guess if you have that much money??

Re: CAT sales/resale value due to Insurance
 

If you have that much money you are just more likely to get sued.
I dont get this Insurance question with cats. Yes it is expensive. So what. I have a 100+ mph cat with stock warrantied power. I will bet that you guys running 100+ MPH V bottoms are spending as much if not more on maintenance than I spend on insurance.
I takes me 600 stock HP to run over 100. Whats it take you?

Yes Id like to see the rates come down, yes I think the insurance company's are taking advantage, yes I think we are en-powering them to do so with posts that say "here go the rates again" :D

Re: CAT sales/resale value due to Insurance
 

If you can afford the boat you can afford the insurance. My V hull Ins. ain't that cheap just got the bill for next yeay 7500 and i can't do a 100.

Re: CAT sales/resale value due to Insurance
 

lets see $70k 30' spectre cat with merc 300x's ins around $3k in XS of 100mph, $175K Cig Gladiator 575's 95mph insurance $4K a year...hmmmmmmm whats the bad point. it cost me $1500 a year to insure my 98 29 Scarab with twin small blocks which ran 72 mph. so in comparison 72 mph 29 scarab was 30+mph slower,cost $15K less and cost half to insure...makes the 30 spectre seem like a helluva deal

Re: CAT sales/resale value due to Insurance
 

Is the 600hp twin outboards?

Re: CAT sales/resale value due to Insurance
 

it will not be $3k in fl.. i was just told $12K for a 32 spectre under 120 mph....thats double what im paying for a 3900 nortech V

Re: CAT sales/resale value due to Insurance
 

Yes his is as is mine.

Re: CAT sales/resale value due to Insurance
 

I think the question was RESALE.........sure there seems to be a lot of
guys who have the ability to buy these 500-600K boats, but what about
resale ............are they all taking the big hit?

Re: CAT sales/resale value due to Insurance
 

i dont think so because boat prices are comprable right now to where they were a year ago based on what i was looking at then and am looking at now. i havent noticed a drop in $$...actually there are a few floating around priced the same as they were July of last year and are still not sold...lol

Re: CAT sales/resale value due to Insurance
 

whats funny is the cheap stuff is selling as well as the very high end stuff, but the $50-$100k stuff is a lil stagnent

Re: CAT sales/resale value due to Insurance
 

I think Reggie is paying the insurance companies to keep the cat rates sky rocketing... :evilb: :evilb:


Seriously, I agree with Chris... When you have a v and you want to go fast it will cost you initially and to maintain. I've been looking at cats myself. Not sure the insurance, but a 30 eliminator with HO's will run mid 90's. That boat has a cabin and sunpad. Whats the maintenance for HO's? Nuttin.

Re: CAT sales/resale value due to Insurance
 

Ive got 525's /xrs in my NT with warratny until 09. Paid a little over a grand in maintanence and service over the past couple years. Nothing compared to big engine rebuilds. Ins woudl be 12k though, but still cheaper then rebuilding/mainating blowers. top speed so far is 104 but im getting new props and if that doesnt help im converting to big spline drive shaft from proroc. pushing for 110

Re: CAT sales/resale value due to Insurance
 

and for resale i dotn think it effects it. People buying them know what theyre getting into. You will take a big hit, but same with a V. And stock power(if thats what you have) will depreciate less then custom blowers. So your still getting more bang for your buck.

Re: CAT sales/resale value due to Insurance
 

A bullet proof package... I'd much rather spend 12K on insurance than maintenance. Maintenance can leave you stranded, lost time on the water, etc. I'll take 12K insurance in combination with a bullet proof 100MPH package anyday. And the cabin/place to crash is a bonus...

Re: CAT sales/resale value due to Insurance
 

I do not think it has anything to do with resale value...if you can afford to run and buy a boat...the insurance is just like fuel.....and everything else...and no....big cats are not self insured....there are different rules for them compared to normal boats...if you do not follow there rules....your out of the program.....

Re: CAT sales/resale value due to Insurance
 

When I checked here in Canada, NOBODY would insure me! I then asked How much it would cost and the answer was: It's not a matter of money, we just don't want to insure it!

Question was resale value ? Well, I could not buy it because of insurance. You get the answer?And by the way, it was an old 1985 Chris Cat... Not a million dollars Nortech.

Re: CAT sales/resale value due to Insurance
 

Another remark on resale:
I think new designs/materials are/will be hurting resale value of older boats. Especially with cats. As more enter the market, new designs built with lighter, stronger materials will be in higher demand. The up side to this is that newer boats will be more expensive which may inflate the selling price of the older model, but you will still take a significant hit. Or you can look at all the late 90's early 2000's skaters on the market asking close to, if not more then what they originally sold for. But there is an 8 month wait for a new one which also helps resale.

Its a shame you couldnt get insurance. DId you call Markel. It coudl have been for a couple reasons though, too old of a boat, inexperience with a cat (my initial problem) etc..

Nor-Techs are going for a million dollars???? Holy crap

FOR SALE 36 Nor-tech
Asking $1 million

Re: CAT sales/resale value due to Insurance
 

Check his location. Canadian money. :drink:

Re: CAT sales/resale value due to Insurance
 

Sorry I was thinking about Extreme Exhibit...MTI, is'nt it? But anyways, Nortech are still worth a couple dollars to my eyes...

Re: CAT sales/resale value due to Insurance
 

be it cat or v-hull, the value & speed of the boat is what the insurance cost reflects. if you have a 150mph $500,000 v hull its the same as a cat....

Re: CAT sales/resale value due to Insurance
 

I was just joking. There are a few very high dollar NT's out there. Fastboats.com was asking $1.2 mil for the 47 at miami last year. Never heard much about that boat after the show though?????