Insurance Help - NJ
 

Last weekend, I checked out a 27 Fountain that I am very interested in. Before going any further, I wanted to get some insurance quotes, which is proving to be difficult, at best.
My insurance co., USAA won't insure anything over 60 MPH. For that, they work with Progressive, who doesn't write in NJ at all. Several other companies I've tried who do write in NJ said no way to performance boats.
Sy's web site (Total Dollar) says minimum $50K value - boat doesn't meet that.
So far, I've only gotten one actual quote, from National Marine Underwriters - for $1700 / yr. This seems kind of steep for a boat vauled under $30K, that will be used 4 or 5 months a year, at best.
The current owner oly pays about $500 through State Farm, but he has a Philly address. They won't write a performance boat in NJ either.
Anyone have any recommendations, or am I dreaming that I'm going to beat that $1700 quote? My driving record is perfect - no tickets or claims in 15+ years.

I'm having some of the same problems. Most of the companies I've talked with won't insure high horsepower / high speed boats.

Who does every one else use?

Mike

Well, car insurance sucks in NJ, so why shouldn't boat insurance? Especially performance boats. We have some of the highest auto rates in the country, I am told. I got raped for car insurance from 17 years old, right up until I got married. As soon as I got married, I switched to USAA (Wife has a West Point family) and I was paying for two cars, less than half of what I had been paying for one of them. Go figure.
Maybe I need to find a 59 MPH boat. 60 is USAA's cutoff.

if you have a mercruiser engine try Boaters Choice.
1-800-763-1002

they are in bed with mercury and will insure only boats with mercury products.

288 sunsation , 40k agreed value , 63 mph
925.00/year :(

Call Bob Luellen @ Worldwide Marine Ins. 1-800-339-1235

He is a good guy and he just insured my Cig. Bullet. His was the best price by $400 and the only one that had NO layup and NO region restrictions.

Craig Hall:)

Thanks for all the replies...I'll try them all. Of course, I'll have to wait until next week, since nobody is even doing quotes right now for the east coast, due to Isabel.

I hear NJ has a high sue accident rate that is one problem.


I had National Marine here in philly and can tell you they raised my rates 5 years in a row without a single claim or ticket NO reason at all on my behalf.

try to register the boat in Delaware do you know anyone who lives there ?

Reese Scott
IMIS
18005414647
They are in MD, and are a broker. Give Reese a shout and tell him Brian Tillett sent you.

Capo, the way I understand it, you don't even need a Delaware address to register your boat there. Actually, the Fountain I'm looking at is already registered there, kept in Jersey, and the ins. bill goes to PA. Figure that one out.
What the agent told me is basically that they don't care where the boat is registered, only where the insurance bill goes. And no, I don't know anyone that lives in Delaware.
Not to mention, I don't want to give an insurance company a reason not to pay out if I do have a claim. They seem to come up with enough reasons on their own...I don't need to help.

Try Foremost Insurance. I had my 1995 Velocity 280/ (454 Mag 64 mph) insured through Inamar Ins & was paying $1860 a year. They also wanted a survey done when I bought the boat last year, and they wanted another survey performed before I could renew next year!
I just signed on with Foremost for $850 a year & they didn't even ask about a survey.

I know where Delaware is!

Insurance Has kept me from buying a few boats already I called for a 32 Hustler and a 32 Active Thunder The ins payment is more a month then my boat payment seems only some people can secure a great rate and ask yourself what kind of coverage do they really have for so cheap? I was told they give you great rates at times but don't give you the coverage Sy Goldberg warned me about that and after checking my policy he was so right

Allstate...
 

I have Allstate insurance and I boat and live in NJ. The rates are great but the claims process is HORRIBLE!!.... last year I had a minor:rolleyes: accident and it took them 6 months (or so) to pay. I guess you get what you pay for.

I am less than $1,000/season for my 1996 Hustler. But, it is included in a blanket policy with (2)cars, a truck, and the house. Policy includes excess liability coverage, as well as 1% deductible. Only things that insurance company requested was a list of all boats previously owned with HP and speeds.