Go Back  Offshoreonly.com > General Discussion > General Boating Discussion
Boat Insurance just went up 45%!!! >

Boat Insurance just went up 45%!!!

Notices

Boat Insurance just went up 45%!!!

Old 09-11-2003, 01:58 PM
  #41  
Rough Seas Lie Ahead
Gold Member
 
Reckless32's Avatar
 
Join Date: Feb 2002
Location: Virginia Beach, VA
Posts: 2,465
Likes: 0
Received 0 Likes on 0 Posts
Default

What kinds of insurance policies is everybody getting? Standard recreational boating policies with a $500 or $1000 deductible per claim, or yacht policies? Doesn't yacht policies have a lot of extra BS most don't need which drives up cost? 2% of value for a deductible is also practically useless for the common claims like lower drives or gimbals from striking submerged objects etc. etc.
I currently have Progressive and was given a decent quote from an agent on the phone for a 32 Dominator with T-496HO's, but their website says nothing over 70mph?????? WTF?

Last edited by Reckless32; 09-11-2003 at 02:06 PM.
Reckless32 is offline  
Old 09-11-2003, 02:04 PM
  #42  
Registered
 
Advantage_Rob's Avatar
 
Join Date: Jun 2001
Location: Lake St Clair, Michigan
Posts: 834
Likes: 0
Received 0 Likes on 0 Posts
Default

http://www.worldwidemarineins.com/
99 32' Advantage twin502 mags, & the trailer stated 80mph top speed, agreed value 105K
I went with worldwide marine underwriters. I had allstate, at $1350 a year in 2000, and 2001, $1850 in 2002, and come renewal time this spring, they wanted $2850 to renew the policy, and removed a bunch things they use to cover, and added a ton of disclaimers. I never had a claim, perfect driving record, ect.. State Farm wont insure it period, so I made a ton of calls, and got the best feeling with worldwide marine. They only deal in high performance boats, my policy with them is thru progressive, but when I called progressive directly it was alot more. They wrote it for $1952 a year.
Advantage_Rob is offline  
Old 09-11-2003, 02:08 PM
  #43  
B-MAX REPAIR
Platinum Member
 
WILDTHING TAZ's Avatar
 
Join Date: Dec 2001
Location: CHARDON,OHIO
Posts: 586
Likes: 0
Received 1 Like on 1 Post
Default

IM 85-90 MPH.THIS MUST BE WHERE INS.CO'S DRAW A VERY EXPENSIVE LINE IN THE WATER.IT TAKES A LITTLE MORE MONEY TO GO FASTER. SO THEY FEEL YOU CAN AFFORD TO GIVE THEM SOME OF YOUR EXTRA MONEY.LITTLE DO THEY KNOW THAT WHEN YOU HAVE A BOAT THAT CAN DO THAT SPEED,YOUR EXTRA CAREFUL TO BEGIN WITH. I WOULD LIKE TO KNOW HOW MANY BOATS 85-90 MPH HAVE HAD ACCIDENTS WITH CLAIMS.
WILDTHING TAZ is offline  
Old 09-11-2003, 02:09 PM
  #44  
Rough Seas Lie Ahead
Gold Member
 
Reckless32's Avatar
 
Join Date: Feb 2002
Location: Virginia Beach, VA
Posts: 2,465
Likes: 0
Received 0 Likes on 0 Posts
Default

A-Rob, Progressive didn't mention the "not over 70" policy?...
Reckless32 is offline  
Old 09-11-2003, 02:56 PM
  #45  
Registered
 
Advantage_Rob's Avatar
 
Join Date: Jun 2001
Location: Lake St Clair, Michigan
Posts: 834
Likes: 0
Received 0 Likes on 0 Posts
Default

Originally posted by Reckless288
A-Rob, Progressive didn't mention the "not over 70" policy?...

yes they sent a questionare, with a line that said:
stated speed (if over 75mph)_______

I filled it in, and wrote 80mph, there was no problems at all. It's been in effect since may, and I haven't heard a word since. I get literature, and a bill every 3 months, thats about it.
Advantage_Rob is offline  
Old 09-11-2003, 03:08 PM
  #46  
Platinum Member
Platinum Member
 
Join Date: Oct 2000
Posts: 1,297
Likes: 0
Received 5 Likes on 5 Posts
Default

Buzz/PMA-
You forgot to tell my OSO friends that you can't write insurance if our boats are over 10 years old. I've been boating for over 30 years, owned performance boats for over 20 years, never had a claim, no speeding, no DWI, but you couldn't insure my boat. I finally got it through World Wide.
John
Dueclaws is offline  
Old 09-11-2003, 03:10 PM
  #47  
Registered
 
Join Date: Oct 2000
Posts: 1,238
Likes: 0
Received 0 Likes on 0 Posts
Default

Advantage_Rob Keep your record clean and things should be OK. But all insurance is going up next year. Some alittle and others alot.
I agree with TAZ.........I have been shopping for the last 10 days and have had prices from 2611.00 to 5240.00
for a 03 380 Powerquest with T-525's and a loss in 7/01. The loss is what's killing me, and I paid 70% of it and they paid 30% of a 7200.00 loss.......if I had only known...I would have paid the whole F*^$$*(g thing.
You call around to get prices and they say you already have a price from X, Y or Z
enticer is offline  
Old 09-11-2003, 03:44 PM
  #48  
Rodney Robertson
Guest
 
Posts: n/a
Default

Dueclaws,
Sorry about the issue of not being able to insure any fast cats that are over 10 years of age AND over 90 MPH. My London program will write older cats but not over 90 MPH top speed which leaves some like yours out in the cold as far as what I can write. My ACE-USA Underwriter won't write cats older than 8 years! What's an Independent Agent to do other than the best I can with the available markets out there. Don't shoot me I'm only the piano player playing (& quoting) the best I can.
BUZZ
 
Old 09-11-2003, 08:16 PM
  #49  
Registered
 
Join Date: Oct 2000
Location: Lakewood, NY, USA
Posts: 3,477
Received 315 Likes on 172 Posts
Default

Check with Buzz at PMA. I am on my second year with him. He does try, this year he had found another company that I could have switched to and saved a few bucks, not a lot but better then going up.

One more thing....when you call, you get him. Other places I have had trouble getting through and getting call backs. Not with PMA
Padraig is offline  
Related Topics
Thread
Thread Starter
Forum
Replies
Last Post
razor1115
Insurance and Finance
10
03-01-2007 02:10 PM
rssteiny
General Boating Discussion
9
03-22-2006 07:50 AM
jaybird
General Boating Discussion
8
09-28-2004 09:15 PM
ActiveThunderTodd
General Boating Discussion
27
07-24-2003 11:48 PM
docmanrich37
General Boating Discussion
5
07-15-2003 05:59 PM

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On


Quick Reply: Boat Insurance just went up 45%!!!


Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service

Copyright © 2024 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.