If you can afford a 1 - 2 million dollar toy you can afford 20-30 k for insurance .

One would think a boat of that caliber would have a halon fire suppression system on it. A real shame it burned... just had new power installed... i sure hope poor installation of the new power wasnt the cause...

Sorry to see this. Wonder if the extent of fire damage will make it too difficult to establish the cause.

600K boat @ 3% = 18K a year
800K boat @ 4%= 32K a year.......ouch!

The statement turbine would be in the $50k a year area.

Ouch is right lol

Thank God for insurance. I know the cost without it. That's Wako I think. Heard everyone is okay, anybody know for sure?

You got to get off that island once in awhile because he's had those engines for several years now.

Also pretty sure it had a halon system too but once a fuel line break or the like there is little any system is going to do.

That's really better than I was expecting considering worse case 12 month navigation for boats that fast. I could not imagine
having a boat of that value and not having it covered.

Sy,
What would the percentage be on a large Sportfishing boat for comparison?
Thanks

Think about it though.......those boats get used for 50-100 hours a year (8760 hours in a year).....so if a boat gets run 75 hours then your risk is .00086 on a per hour basis. Less than 1% chance of something happening during "use" hours based on the number of hours per year. These aren't sportfishers that are running 1000's of hours per year, going on long journeys.

On the subject of large yacht insurance, my brother in law (yacht builder/broker) has told me in the past he can get a large yacht insured cheaper than the go fast boats. Slow speed, usually captain at the helm = lower risk.