View Poll Results: Tell insurance of horsepower gains?
Yes, tell them the truth.
36
53.73%
No, what they don't know doesn't cost me.
31
46.27%
Voters: 67. You may not vote on this poll

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Tell insurance about HP improvements?

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Old 09-29-2003, 12:46 AM
  #11
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so when you buy a nice factory Blue motor and put it in place of your stock 454 make sure you paint it black
and put the 454 air cleaner on
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Old 09-29-2003, 10:21 AM
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If you are adding blowers, I would tell the Ins. Co.. Just make sure that you are sitting down when they tell you your new rate

You could possibly lose everything if you have an accident where people get hurt and your not covered because you wanted to save money. There is however alot of ways to get HP out of carbed engines
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Old 09-29-2003, 12:28 PM
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That's pretty much what I figured, I just wanted to see what you would all say. I'll have to switch ins. companies, State Farm won't cover me with more power, they didn't really want me with stock power! Oh well, its only money. The kids will have to pay for their own college tuition, Daddy needs more speed!
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Old 09-29-2003, 12:45 PM
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Quote:
Originally posted by Too Old
I'd PM a couple guys who frequent the forum who sell insurance.

In all my years of boating, I've NEVER had a claim. On small issues, I'd probably never report them anyway.

However, if you were to completely loose the boat throug a fire, sinking, or speed related accident, my guess is you might very well be out of luck if you purposely deceived your insurance company.

I'd pony up and find insurance that covers what you really have.

In order to have a claim Fred you need to use the boat
or tow it around the Country

I guess if it was not a obvious Hp increase like a 50-100hp and the motor appears stock I wouldn't tell
like a 454 base Vs a 454 Mag
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Old 09-29-2003, 06:55 PM
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Better off telling them - honestly if you are going to not tell them - you might as well go without insurance. I busted up a drive really bad after I hit a submerged log. The first thing the insurance company did was make sure the engines in the boat were what was on the disclosure. They were looking for a way out even though it wasn't related to speed. The next thing they tried to do was depreciate the drive. Boat was only two weeks old.
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Old 09-29-2003, 07:27 PM
  #16
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Quote:
Originally posted by LPBoater
The next thing they tried to do was depreciate the drive. Boat was only two weeks old.
Bastiges
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Old 09-30-2003, 07:01 AM
  #17
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Quote:
Originally posted by THRILLSEEKER
...proven that you were going faster than what you told the insurance co. the boat would go
More than the boat, the insurance Co will probably get out of the coverage due to your misrepresentation and you will be liable personally for any recourse by any other entity involved in your accident. There goes your net worth to attorneys and judgements and so forth.
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Old 09-30-2003, 02:30 PM
  #18
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Careful -- A buddy of mine has stock 502's and was going to put Merc 600's in his boat. Insurance said they would no longer cover the boat, period, because it was no longer stock and could be considered "unsafe." Furthermore, he was told that if he made ANY modifications, and didn't notify them, it could be considered cause in not covering a future claim - regardless of whether that claim was related to the specific modification(s) or not.

Call Ken Collier (Elton Porter Insurance - 713-562-1397). He's an owner of the company, a friend of mine and ex-F2 racer. He should be able to give you the "real" scoop rather than all of our "shade tree mechanic" opinions! Please post his response.
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Old 09-30-2003, 02:42 PM
  #19
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You definitely must tell them. I was involved in a bad accident about five years ago. Totalled a 34 Magic and some bad injuries. The very first thing the insurance adjuster did when he came to inspect the boat, was to verify the motors and Hp was what I had told them was in it. Luckily for me, I was upfront and honest when I insured the boat. He said even a simple change ie exhaust would have voided the coverage and I would have been SOL.

If you not going to tell them, you might as well not have have insurance in the first place. We all ***** about the high cost of insurance, but thank god you got it when you need it.
 
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Old 09-30-2003, 03:23 PM
  #20
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Better tell them they will back out first chance they get on a claim.
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