Risky game people play too often, http://speedonthewater.com/commentar...e-numbers.html.

I can understand replacement value on a 800-900k boat and the policy being 25-30k, most people are in the 150-300k range I'd like to say, an article on that would be more pertinent...

Understood it comes off as a 1800hp cat...however....how many people own turbine cats...

I was never asked how fast my boat was......

I was..... It made a difference...

From what I read, the point of the story was not that a million dollar boat costs $25K to insure, but that ANY boat if mis-represented on speed or HP is a invitation to disaster. I was definitely asked what the hp and speed of my boat was. Probably the only time I actually told the truth on how fast the fat girl is....

I can see that....

You're right, I could have used a more "real world" example at the beginning of the commentary. I wanted an attention-getter, and both the example I used and the cost to insure it definitely qualify as that. But the point, and I know you get it, is that regardless of cost of the boat or the amount of the premium, lying about top speed and horsepower simply isn't worth the risk.

“I ask people to honestly tell me what the top speed of their boat will be in regular conditions,” he says. “What is your boat going to top out at with four people on board under normal operating conditions? That is an acceptable answer—as long as you’re being honest.”

I was told by my insurance company that I had to tell them the highest capabale speed, which could be alot different than what is outlined above. If in the conditions above I go 72 mph, but in a shootout scenario, I can go 82, which one is it (it is now documented to go over 80)? My insurance company will not insure over 80 mph.

Interesting read. Thanks for the article.

Seems like a scare tactic article to me. If you have a pair of 575's rebuilt to put out 650 HP allowing your boat to go 10 mph faster that isn't fraud!

A few points to consider:

1. How many accidents occur at top speed? In a higher speed accident would have it really made a difference if the boat was going 90 or 100?
2. Insurance written is done at a point in time. So if a guy insures in October with a 500 hp boat and then upgrades in the winter for an extra 100 hp then it isn't exactly the same thing if a guy intentionally underrates the HP from the get go.
3. How many insurance companies break down an engine after a claim for a dyno run? (NONE). Now obviously if there is a blower bolted to the block and the motor was represented as a stock 500 EFI then there would be an issue.
4. For a company to refund the premium and deny the claim they are opening themselves up to a lawsuit from the insured. Insurance companies know that pulling that move will not sit well with a jury (looks like the insurance company is trying to weasel out of a claim). What would it cost them to litigate that denial of coverage case?

A few follow up questions for the person interviewed: How many times have you seen a claim denied for underrated HP? How many premiums returned/claim denied cased?

One thing I would consider confirmed.....Insurance companies/agents peruse magazines/online forums and a "Hey look at my new engine dyno" threads would be very incriminating for an insured.

What about if someone tweaks props but doesn't touch the engine hp? What about exhaust changes? A pulley/fuel change?

Too many variables........