MTI burns at desert storm.
05-01-2016, 04:26 PM
#41
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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.
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.
The amount of use is definitely a factor. Hard to stroke a $3k - $5k check every month for something that gets used less than most other toys to a lot of these guys
05-01-2016, 05:31 PM
#42
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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.
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.
05-01-2016, 05:49 PM
#43
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Join Date: Sep 2011
Location: Midwest, LOTO, Miami Beach
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My guess is his insurance is less than $10k/year based on what I pay and have paid prior to 2 years ownership.
No one in this game worries about $10k premiums when you are protecting something like this and every time something breaks it's $10k or more.
No one in this game worries about $10k premiums when you are protecting something like this and every time something breaks it's $10k or more.
05-01-2016, 05:51 PM
#45
Gold Member
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As mentioned before, If you are able to afford a boat such as this insurance is the least of your concerns... Does the cost of the insurance really matter?
05-01-2016, 05:59 PM
#46
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Agreed. A lot of wild speculation on premiums
05-01-2016, 06:46 PM
#49
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I was told turbine boats were pretty much uninsurable.
I did talk to the nor easter guys 5 years ago and was told 5k a year, could use it 5 times, coverage upto 160 mph but the insurance company needed to know in advance when the boat would be run and where.
I did talk to the nor easter guys 5 years ago and was told 5k a year, could use it 5 times, coverage upto 160 mph but the insurance company needed to know in advance when the boat would be run and where.
05-01-2016, 06:56 PM
#50
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Offshoreonly AdvertiserJoin Date: Jan 2001
Location: spring valley,ny usa
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A large yacht or sportfish in Florida would have premium of about .75 % of hull value. 3-4-5 engine center consoles would have a premium of around 1.2 %
