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Boat Insurance - Your experience please

Old 05-02-2003, 04:00 PM
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So far, my experience sucks. I am buying a 2000 Sunsation 288 with a stock 502 and so far, the cheapest quote has been $1150.00.

I have NO speeding tickets, great credit...This SUCKS. The insurance industry is about as unorganized as any out there. I tried to get it through a company that another board member has his exact SAME boat through, only his is one year NEWER and he has MORE HP's and I was told they wouldn't insure my new boat due to the fact that it is "a high performance boat"

The insurance industry needs to get their act together.
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Old 05-02-2003, 07:43 PM
Join Date: Oct 2000
Location: Parkesburg, Pa.
My Boats: Silverton 34C. Also '97 Seadoo GTI and various other small craft.
Posts: 94

I've had my "stuff" insured by State Farm since 1980. Boat's been on since we got it in 1986. We've made 3 boat claims to date (each $1,000+) and never had any problems. We have an "agreed value" policy which I review every year with my agent. I'm a big fan of this kind of policy because there is absolute certainty how much they will payout in event of a total loss. BTW- they do require documentation of any improvements if it's a restored or refurbished vessel (like mine).

I think the agent is one of the most important parts of any insurance policy. A good one will go to bat for their customer, even when it's against company policy (it happened to me!).
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Old 05-02-2003, 07:48 PM
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Join Date: Jun 2002
Location: San Diego
My Boats: 2004 28 Skater / 300x's
Posts: 963

The boat I had a problem with State Farm was a cat. The others I know of were also cats. This might have been the problem, but they should not have approved the policy, accepted our money, and then cancelled us 4 months later.

We sent pictures, disclosed hp, and speed prior to having the policy approved. our agent went to bat for us, but they still said "we don't insure those kinds of boats".
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Old 05-02-2003, 08:03 PM
Join Date: Oct 2000
Location: Parkesburg, Pa.
My Boats: Silverton 34C. Also '97 Seadoo GTI and various other small craft.
Posts: 94

Sound to me like it was your agent who screwed you over. They should know and understand the policys they write- it's their freakin' job for cryin' out loud. If the company policy excludes cats (or any other specific kind of boat) the agent should know it and explain to the customer why they can't insure him.

I wonder how many bad agents have soured perfectly good customers because of their own ignorance and lost future business

Last edited by arks; 05-02-2003 at 08:05 PM.
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Old 05-02-2003, 09:01 PM
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Join Date: Oct 2000
Location: Pennsville NJ.
Posts: 3,974

[QUOTE]Originally posted by 43Thunder
[B]I have PMed Sy in Jan 03 and April 03 and have not heard from him. Is it just us???

Ever since his half-brother, catmando has left the board, he has not been his self.
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Old 05-02-2003, 09:02 PM
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Join Date: Jan 2001
Posts: 4,367

I use State Farm for insurance on all the toys, autos, and homeowners and have never had any problem with them even throughout a claim process.
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Old 05-02-2003, 09:05 PM
Join Date: Oct 2000
Posts: 2,963

See the OSO links section under insurance, two great companies. Personal experience with both.
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Old 05-02-2003, 09:24 PM
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Join Date: Dec 2001
Posts: 586

nothing but bad in the last year.37 ol with trips.seems like it's had the boat until the company quit writing hp i started getting quotes from different insurance agents.only to find out how crooked the insurance companies really are. their are only a hand full of companies that will write hp boats.the first agent will call all companies for your quote,and at the same time it locks out any other agent from getting a quote from the same company.then your stuck with only the first person you's a game only at your expense,and you can't do anything about it.markell quoted me 4500.00 a year.i mailed 1/2 down.and then kept raising the price every couple of weeks with out writing a policy.a policy shows up at 6500.00,i get mad & cancel the insurance.they short me over 500.00 on a more than fare refund. now i have to find an agent that can get a quote from an insurance company that no other agent can lock has been the only agent that treated me fair in my wide marine underwriters in michigan locked me out of all companies,and made in almost impossible to find insurance.all the response i got from them on the shortage in my mind of 500.00 was (i thought it was taken care of).they did nothing but give me a false quote in writing from markell & would not stand behind me for a fair prorated refund. so i say careful with the way you look for insurance it could cost you a bunch. this same bull**** also applies to any commercial truck insurance.not only hp boat insurance.p.s i did find a home at blackadar. in regards to state farm insurance.i have heard more stories about them not insuring cigarette type boats.and then you hear some people have state farm because they insure alot of stuff for a lot of money in premium so state farm will insure them.its all bull****!insurance companies have a monopoly on the suggestion is to talk to as many boaters that have boats like yours before you talk to any kind of insurance agent.!!!!only my 2 cents thats all i have left.

Last edited by WILDTHING TAZ; 05-02-2003 at 11:04 PM.
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Old 05-02-2003, 09:32 PM
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Join Date: Jan 2003
Location: Brookfield, Wi.
My Boats: 33 Active Thunder
Posts: 934

While we're on the subject of insurance I'm just curious what people do regarding supercharger add ons after the fact. Just pretend it's not there and hope you never have a claim (which they would probably deny if they found out about the no-disclosure)! Or if you tell them about the changes, what kind of reaction and rates did you receive??????? Steve
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Old 05-02-2003, 10:30 PM
Join Date: Mar 2001
Location: Greenwood, In 46142
My Boats: 2002 Baja Boss 340
Posts: 128

Allstate has been good to me.

Had a tree from a tornado fall on my old 1988 Force 320, adjuster was out within 48 hrs and was more than fair in settling the claim.
They now insure my new Baja Boss 342 for $1500 a year when the next lowest quote was $3900 from Progressive.

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