Boat Insurance for High Performance Boats
11-23-2003, 03:00 PM
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Boat Insurance for High Performance Boats
Hello, I am considering a new boat, which would be highly modified, (different & higher HP engines, Different drives, Different Exaust, etc). I currently use progressive, and just tried to get some online quotes. For a 33' / 10 Meter Fountian it's Right around $1000 / Year (what their website says), but as soon as you select "over 415 HP / engine", "Performance modifications to engine / drives", or "over-transem exaust", progressive's website says "we do not have a policy for the options you selected" or something similar. Who else has low rates, or even covers higher-performance boats ? Or is everybody just going without insurance ? Thanks,
Paul Rohrbaugh
Paul Rohrbaugh
11-23-2003, 05:50 PM
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make sure you do your home work. I called about ins few years back but didn't get a binder so when i bought the boat i called back and my rates were higher then the 1st quote just days before my purchase.
11-23-2003, 07:03 PM
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make sure you ask around to the "boat owners". because once you call for a quote..............that quote goes a computer system.....and any further quote is treated like the first. So, shopping is very touchy.....so choose wisely before calling brokers or companies
11-23-2003, 11:35 PM
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Re: Boat Insurance for High Performance Boats
Originally posted by paulr
. Who else has low rates, or even covers higher-performance boats ? Or is everybody just going without insurance ? Thanks,
Paul Rohrbaugh [/B]
. Who else has low rates, or even covers higher-performance boats ? Or is everybody just going without insurance ? Thanks,
Paul Rohrbaugh [/B]
Don't think you can find low rates from anyone in the insurance industry nowdays. I would give give Sy Goldberg a call. He specializes in marine insurance, high performance, cats, v-drives, and the entire gamut. He works for Total Dollar Insurance. Number is 845-356 7251.
11-24-2003, 11:31 AM
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I've been dealing with Bob Luellen at Worldwide Marine for years and he's been wonderful to work with. they have a couple of phone numbers 800-339-1235 and 517-333-4100.
He's also the host for the Smoke On The Water Poker Run which I have attended the last two years. What an awesome event.
He's also the host for the Smoke On The Water Poker Run which I have attended the last two years. What an awesome event.
11-24-2003, 05:51 PM
#9
Offshore Cowboy
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I did this last time. Here's a consolidation of all the #'s on OSO prior to 10-2003:
Charter Member FPRIVATE "TYPE=PICT;ALT=OSO Charter Member"
(Post #3)
I went through Dave Webb at J W Terrill for my 2003 Formula 382. Agreed value of $280K. $1,000,000 liabiltiy and all the other goodies. 2% deductible. 5 month lay-up. 11 state Mid-west navigation including Great Lakes and part of the St Lawrence Seaway (you can get a rider if you want to go outside of the area)......$2,500 a year.
I think actual company behind the policy is Markel.
Call Dave and 636-728-7700 and see if he can do anything for you.
if you have a mercruiser engine try Boaters Choice.
1-800-763-1002
Call Bob Luellen @ Worldwide Marine Ins. 1-800-339-1235
Reese Scott
IMIS
18005414647
They are in MD, and are a broker. Give Reese a shout and tell him Brian Tillett sent you.
Try Foremost Insurance.
Triple Trouble: Try Alliance Marine Risk Managers In florida, 800.441.7755 Talk to John Campbell, I like the agreed Value policy with Lloyds of London. They saved me about a grand off my other policy.
Sy Goldberg @ Total Dollar, ( 845-356-7251)
I had my insurance through Sy and he was great. However I was not very happy with the price or the layup period each year. (6 months) I have changed to Allstate Insurance this past week and saved 50% over what I was paying. There is no layup period and you can go upto 100 nautical miles offshore and still be covered without any special restrictions. My agent told me that from last month through July 31st, Allstate is writing all power boats without asking how fast. I am thrilled.
P.S. ---Yes I have the same coverages as with the other company. The only thing I had to do was give them a vehicle with my boat because I did not have insurance with them already. That was minor for the savings that I got.
Hawk does all the race boats. Call Rick @516.466-9760
Call Buzz in Florida at Performance marine Ass. there # is 954-583-5558
Reese Scott
IMIS
18005414647
marine underwriters, I just insured my 26 hustler with 500 horses for $700
800.441.7755 Talk to John Campbell
Trysaved me about a grand off my other policy. Alliance Marine Risk Managers In florida, 800.441.7755 Talk to John Campbell, I like the agreed Value policy with Lloyds of London
Charter Member FPRIVATE "TYPE=PICT;ALT=OSO Charter Member"
(Post #3)
I went through Dave Webb at J W Terrill for my 2003 Formula 382. Agreed value of $280K. $1,000,000 liabiltiy and all the other goodies. 2% deductible. 5 month lay-up. 11 state Mid-west navigation including Great Lakes and part of the St Lawrence Seaway (you can get a rider if you want to go outside of the area)......$2,500 a year.
I think actual company behind the policy is Markel.
Call Dave and 636-728-7700 and see if he can do anything for you.
if you have a mercruiser engine try Boaters Choice.
1-800-763-1002
Call Bob Luellen @ Worldwide Marine Ins. 1-800-339-1235
Reese Scott
IMIS
18005414647
They are in MD, and are a broker. Give Reese a shout and tell him Brian Tillett sent you.
Try Foremost Insurance.
Triple Trouble: Try Alliance Marine Risk Managers In florida, 800.441.7755 Talk to John Campbell, I like the agreed Value policy with Lloyds of London. They saved me about a grand off my other policy.
Sy Goldberg @ Total Dollar, ( 845-356-7251)
I had my insurance through Sy and he was great. However I was not very happy with the price or the layup period each year. (6 months) I have changed to Allstate Insurance this past week and saved 50% over what I was paying. There is no layup period and you can go upto 100 nautical miles offshore and still be covered without any special restrictions. My agent told me that from last month through July 31st, Allstate is writing all power boats without asking how fast. I am thrilled.
P.S. ---Yes I have the same coverages as with the other company. The only thing I had to do was give them a vehicle with my boat because I did not have insurance with them already. That was minor for the savings that I got.
Hawk does all the race boats. Call Rick @516.466-9760
Call Buzz in Florida at Performance marine Ass. there # is 954-583-5558
Reese Scott
IMIS
18005414647
marine underwriters, I just insured my 26 hustler with 500 horses for $700
800.441.7755 Talk to John Campbell
Trysaved me about a grand off my other policy. Alliance Marine Risk Managers In florida, 800.441.7755 Talk to John Campbell, I like the agreed Value policy with Lloyds of London
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