Matt Trulio

Insurance does not make for the sexiest news, but it's always a worthy subject, http://speedonthewater.com/in-the-ne...insurance.html

Cash Bar

He is a great guy, and very well versed in the industry. I'm sure he will bring some new ideas to the east coast guys.

precisiondetails

If you can get them insured then why can't you get them financed? Am I missing something- I would think if you can get insurance then someone would give you a loan at the right terms...?

Polonzapie

Would be great, the $20,000 a year premiums are getting old

JD Dearden

Loss ratio's, insurance fraud, under insured, there a lot of reasons banks are still exposed.

Matt Trulio

Exactly. If a go-fast boat that gets repossessed by the lender, the insurance company simply stops receiving premiums from the former owner. But if the bank has to take back a go-fast boat from a borrower in default, and that's happened a lot in the past five years, the bank is almost surely upside down on the loan and, to make matters worse, the collateral might well be stripped of it engines and drives—making it even less valuable.

precisiondetails

That's the one reason I thought, but obviously it's a big one.

Interceptor

Could someone educate me ?
With so few insurance companies writing policies for offshore powerboats wouldn't all brokers be aware of who writes policies ? How does one broker capture a segment of insurers ?
If insurance company "A" writes catamaran policies why wouldn't every broker out there know this ?

Also

As the price of insurance goes up does the brokers fees make a difference from one broker to another ?

TahoeRick

There is a boat broker in lake Havasu, Rick, of Maxedoutmarine who said he has a credit union that does not ask how much HP. All they care about is your credit rating. His cell is 561 310-1719. He tells me he can get anyone with good credit a boat loan.

Pwraddr

Devin is a great guy...I'm insured with him.