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Boat Insurance - Your experience please

Old 05-03-2003, 01:51 AM
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Location: Orange County, So Cal!
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You guys are awesome. Some great information to start. I hope that I can help in some way once I make my inquiries.

Keep it coming! I'm listening. Thanks!
Chris Johnson
Armed Forces Racing
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Old 05-03-2003, 09:15 AM
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Originally posted by mlitefan
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.
This is unbelievable to me. You should be able to get insurance for about half that. At least that is what I was paying for my 272 with stock 502. That boat will not do over 70 which seems to be the magic number for most insurance companies. (Have you called Progressive?) My PQ340 will do 80 and none of the major companies would write me. All of the marine insurers gave me ridiculous guotes. Thank you Sy. He is a straight shooter and offers a great policy.

Good insurance is a must. I had a 232 burn up in a boatel fire in '98. Had Allstate at the time. They set up a trailer on site after the fire. I stoped by and had a check for the purchase price of the boat in about 30 minutes. Boat was 4 years old at that time.
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Old 05-03-2003, 11:01 AM
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Actually, I think I am a victim of a bad agent. After going out on my own and trying several well known companies, that 1150 was my cheapest quote. I asked my agent to try her channels as well, even asking her to try Progressive, on the advice of another member. She called back in an hour and said their underwriter refused to insure "performance boats".

After a call directly to Progressive (Thanks Rick!!!) I had insurance on the boat for about $800.00...right where I expected to be in price. I pulled what little hair I have left out for a week going around and around and when I went direct, it was painless.

Shame on me for not doing it to begin with.

That was a great question someone else raised about suprchargers...What do people do when they boost power and what has been the reaction of your insurance companies?
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Old 05-03-2003, 11:22 AM
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Bill Butler at Blackadar Marine Insurance has always had my APACHES and is very fair and helpful. He is knowledgeable on all HP boats and the required insurance.
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Old 05-03-2003, 12:23 PM
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Some observations:

- Forget on-line applications (except for Progressive.) Call and talk to a human.

- A good agent is worth his weight in gold.

- Don't cheat on your top speed and HP. They have tables. You will pay your premiums and when there is a claim: denied.

- If it's high performance, Total Dollar, Performance Marine Associates and Blackadar are best choices. Total $ and PMA use same underwriter (INAMAR). Blackadar 30ft and up.
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