Like Tree0Likes

Farmers will not insure over 52 MPH !!

Reply
Old 06-21-2002, 01:19 PM
  #1
Registered
Thread Starter
 
blown formula's Avatar
 
Join Date: Feb 2001
Location: Lake Eufaula, Ok.
My Boats: 312 Formula & 31SS Sonic
Posts: 1,506
Angry Farmers will not insure over 52 MPH !!

In changing my insurance policy to cover my 312 Formula my Farmers agent said no problem...... will cost $750.00/yr. Last week I get a cancellation from Farmers. I call & they say they will not cover a boat that goes over 52 mph !!! I said "are you not going to insure boats anymore? They will all go over 52 mph except pontoons!! " No, just excluding some boats that go over 52mph!! This sucks.... my last Formula went 75mph & no problem. This one six feet longer, 5000# heavier, & they won't insure it!!
This is only equipped with EFI 454's, not 502's or 500's. What the hell!!
They will list me with an outside company for $1500.00 per year.
What's everyone else paying for stock 10,000# boats???
Maybe I'll cancel my policies on 2 houses, & 3 other boats!!
blown formula is offline  
Reply With Quote
Old 06-21-2002, 01:28 PM
  #2
Registered
Trade Score: (1)
 
HiPerf2000's Avatar
 
Join Date: Oct 2000
Location: N.E.
My Boats: Sonic
Posts: 4,072
Default

That's rediculous!!!

I would like to find out where they got that "52" figure from?? Is 52mph safer than 54mph????? And why is it safer???

My insurance company (allstate) has changed thier ways also.....they will not take on "new" policies for a certain "black list" of boats.....but they are honoring thier existing policies. So i guess that means if i get a new boat....i have to get a new insurance co.
HiPerf2000 is offline  
Reply With Quote
Old 06-21-2002, 01:35 PM
  #3
Registered
Thread Starter
 
blown formula's Avatar
 
Join Date: Feb 2001
Location: Lake Eufaula, Ok.
My Boats: 312 Formula & 31SS Sonic
Posts: 1,506
Default

Not only that, but my truck had tools & stuff stolen out of it two months ago. I called the agent (same one).... this is covered under the "homeowners"policy, so he says.... we will cover it less deductible of course, but Farmers may not renew your policy if you make a claim !!! (So naturally I didn't) This should be against the law!!! They sure don't mind you paying them thousands of dollars, but you claim a few hundred in return & your "out the door"!!
They said the same thing about a break- in/theft at my lake house 5 years ago. ....No claims in between either, never a boat claim.... this is a crime as far as I'm concerned.
blown formula is offline  
Reply With Quote
Old 06-21-2002, 01:49 PM
  #4
Registered
 
SteveS's Avatar
 
Join Date: Feb 2001
Location: Verona Beach, NY USA
My Boats: Warlock 27WC F1-36
Posts: 215
Default

Try Bill at www.BlackadarMarine.com
1 800-292-0092
SteveS is offline  
Reply With Quote
Old 06-21-2002, 02:26 PM
  #5
Registered
 
GregP's Avatar
 
Join Date: Apr 2001
Location: Annapolis MD
My Boats: 1989 Scorpion 32 CC
Posts: 1,464
Default

Normal policy is to not insure over (I thought it was 60) mph. You can get an exclusion, as I have one that my agent got (in writing) since I had multiple other policies with them. Funny thing is, now that I have the GPS it won't go over 60 anymore (the old water speedo was happy to report an "over 60" top speed).

They did however just do a "safety and value" inpsection of my house (and I thought all others) and raised the premium by 30%. I read somewhere that there had been lots of claims on new homes with mold/mildew problems due to improver ventilation design, and they were raising ALL home rates to cover there losses (not just those on poorly built houses that had the problems of course, "that" would be descriminatory).

-Greg
GregP is offline  
Reply With Quote
Old 06-21-2002, 02:39 PM
  #6
Registered
 
Luv-N-It's Avatar
 
Join Date: Jun 2002
Location: Central Ohio
My Boats: 1996 Baja 272
Posts: 910
Default

Blownformula, Check out State Farm Insurance. I have never had any issues or problems with my boats. Never any stupid questions, just your general standard questions...make, length, motor... so on.
Luv-N-It is offline  
Reply With Quote
Old 06-21-2002, 02:54 PM
  #7
Registered
 
tanned fat looks better's Avatar
 
Join Date: Jan 2001
Location: the western shore of THE BAY OF KANSAS CITY
My Boats: Baja 270
Posts: 1,154
Default

I just left Farmers........they started w/ good rates but consistantly increased my rates.

I just went w/ American Family and saved $400 a year on my cars and $300 a year on my house.

My boat is with Safeco though........no probs and I even had a claim a few years back (hail damage)
tanned fat looks better is offline  
Reply With Quote
Old 06-21-2002, 03:43 PM
  #8
Registered
Thread Starter
 
blown formula's Avatar
 
Join Date: Feb 2001
Location: Lake Eufaula, Ok.
My Boats: 312 Formula & 31SS Sonic
Posts: 1,506
Default

I left State Farm a couple of years ago to consolidate under Farmers....Boy, was that a mistake!!
Yesterday, State Farm announced they will not underwrite any new Homeowner policies in Oklahoma.....if you don't have the house policy, they won't write the boat either!!
The scourge of the world....Lawyers & insurance co's!!
blown formula is offline  
Reply With Quote
Old 06-21-2002, 03:53 PM
  #9
Registered
 
Luv-N-It's Avatar
 
Join Date: Jun 2002
Location: Central Ohio
My Boats: 1996 Baja 272
Posts: 910
Default

Blownformula,

Geez dude... hate to move there. Are you familiar with Ugly John's Custom Boat's out there in you area?
Luv-N-It is offline  
Reply With Quote
Old 06-21-2002, 04:14 PM
  #10
Registered
Thread Starter
 
blown formula's Avatar
 
Join Date: Feb 2001
Location: Lake Eufaula, Ok.
My Boats: 312 Formula & 31SS Sonic
Posts: 1,506
Default

I am familiar with Ugly John's. A friend of mune bought a boat from him as "new"......found out later that Uglie's son had sunk it. They cleaned it and sold the boat as new. Needless to say, there was a lawsuit & Ugly lost...Not a very good rep here among the "knowing"!!
blown formula is offline  
Reply With Quote
Reply

Related Topics
Thread
Thread Starter
Forum
Replies
Last Post
CNC
Insurance and Finance
13
02-24-2007 09:31 AM
yachtsmandon
Spectre
6
02-13-2006 01:28 AM



Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On



All times are GMT -5. The time now is 09:02 PM.


Copyright 2011 OffShoreOnly. All rights reserved.