Boat insurance
 

Hi,

I'm looking to buy a Formula 242LS. Boat has a single 454 magnum.

Contacted Boat/US for insurance and they want close to $1000. Is that high? I mean the boat only goes 60mph. My last boat was a 18' Sea Ray with a 140hp motor. Top speed was 45mph and my insurance was $86/year!

I called my auto/home broker Allstate and he's going to work on a quote once I get a hull number. I also requested a quote online through "United Marine Underwriters" I think I found them through boattraderonline.

Chuck

620.00 a year mine, is 2600.00 42/triple/540's

I need to switch to Allstate

What's your location? It has a lot to do with it.

Oh, I'm in Annapolis, MD and would use the boat on the Chesapeake Bay.

Try progressive... very competitive.

Thanks, you're rates shouldn't be that high then, with a winter layup and a shorter season. Check out Worldwide Marine, 1-800-339-1235, ask for Bob Luellen...he just got me an awesome rate which was about half of what Boat-U.S. wanted.

Cheap ins in some parts of the country is a mis-statement from what I have been told

Insurance
 

Where besides Allstate is a good place to shop for insurance? Do you have everything else with them? I've had two quotes for a 38' Tempest, both about $1800.00 and one even put Kansas waters only. Hellooooooo. I live here but will be going to other places!!!

I've been told I can get insurance but only for rivers stay out of the oceans? :crazy:

I had that with Boat U.S. Had to call them if I was headed to the shore. $20 additional got me up to two weeks at the shore. If I went for the day...still$20. If they saw the chit that floats in the Delaware river , they should give ME a rebate to hit the shore.
Right Capo??

I have honestly seen everything from tires, full shed roof tops HEY atleast the shingles are still on there :D , chunks of boat hulls :crazy: 1 Million condoms :drool: and about 25 million iced tea containers.


I once tried to yank a tire out of the water near the ramp. Turns out it was still attached to the rim and axle :fish:

I have just signed up with Progressive for my Pantera 24, single 502. It's $1160/yr :eek:
I checked out the rates for the same boat on the west coast of Fl, in Seminole..........it was half that amount!
Where you are really does matter!

Milw. river actually had a complete rear end wash up after a storm from a Olds 442 (I think). Only parts that were gone was the rubber.

Tempest: I have pretty much all with Allstate and been there 16 yrs. Good track record although they did buy me a new sled 3 yrs ago.

1996 26' Scarab w/ 502 mag. Everything I own (except my business) insured through local State Farm agent. Boat is $420 annually with agreed replacement value of 40k.

Buck

WoW if I could get rates like you people I'd be in a 30+ twin motor boat by now

And...if I didn't have to pay 8200/yr ins. for a 36' cat boat I might get more motivated. Earlier thread stated 6-8000/yr for quick cats

I got mine with State Farm 2002 37 Active Thunder HP500's......$912.00 year, can go anytime, anywhere have to stay 50 miles from U.S. borders.

Alot of this also has to do with your driving record and I save 15% by having a safe boater 6 week course.

YOU GOTTA BE KINDIN ME S.F. TOLD ME THEY WON'T EVEN WRITE BOAT POLICY'S?


I was paying 1,625.00 a year for a single 502 288 Sunsation :hothead:

Sounds high for the boat and speed.

By the way, I had SF on my AT with 500's and paid $1200/year. No kidding:D

I think the agent also has a lot to do with getting boat insurance with SF.

SF here said no to me cause I had a home claim 600. 3 yr ago with allstate. Still with allstate. I hear of good rates though with SF if you can get in.

I'm 33 years old never had any claim boat, house, car and I can't get any cheap rates. all I want is $1500 on a 2002 32 sunsation and I'm in.

NOT 3,000K :hothead:

Sounds fair to me. I'll insure you!! Dave's swifty ins co.

Maybe it is the rough and tumble town of Philly. Don't you guys have the toughest crowd fans?

I have had 6 boats in the past with SF and they didnt want to write the 32 I had and the 37 but as my agent told me, it is all in the numbers. I have my personal and business policys with him and if they would not write it I was going to take all my policys somewhere else.
I have a total of 11 policys including life, house, cars, personal, boats, and summer home.

Basically power in numbers.

Hey CAP,

Just for giggles, PM me the info on your boat. Year, engines, value and so on. I'll have my agent quote it like I'm buying it. I'd be interested to see what it would be.

He does it for me all the time.

Buck

I'm running a 25 active thunder with a 500 hp. My insurance is through state farm and I'm paying $460 / yr covered for 45,000.
I can run any ware any place any time.

I can't believe that there is that much of a difference between agencies.
As said it's how bad that they want your business.

It's the KIND of policy as well. A lot of folks are qouted "yacht" policy's vice recreational boater policy's which are always more expensive and the deductibles are a percentage of boat value vice say $500 per occurence. Most companies that are considered non-friendly powerboat policy writers won't take outsiders who want just the boat underwrote. But if you are dumping a bum-load of money in several policy's it's worth their while to write you...

FYI,

I got a quote for CAP071 on the 32' Sunsation Dominator he is looking at. The best quote he had to date was $1,500. I got a quote from my State Farm agent on his boat for $712 annually.

I don't understand why your agents aren't taking better care of you guys than this.

Buck

I was told however if you read the policys they are NOT all apples to apples. Many are lower coverage for everything from deaths, boat recovery, and everything else. ??? Never really read the policys in and out.

My agent has full knowledge of the type of boat/boats that I own. At my request he even filled out a form for me that states they are aware of the type of boat I own so there is no confusion on this subject.

Nothing hidden here.

Buck

I do not think that is it at all. I think some agents have better relationships with the underwriters and can get it done. When I first got into performance boating, with a 1993 270 PQ (nt my first boat), we had some difficulty but were able to get the boat insured. We were not new to boating, had taken the Power Squadron safety course and had good driving records. We moved up to a twin engine 290 PQ (385 hp 454 mag EFI's) and ultimately a 37 AT with 500 EFI's. These boats were in multiple States; Illinois, Texas and Tennessee and all with SF. We did make sure the agent we selected knew the high performance boat market. It took some "shopping" of SF agents but we were always able to get the boats insured at very good rates. I have my home and cars insured with SF and have been with them for over 25 years.

I also would not provide inaccurate information concerning a potential $200,000 claim.

We are in the process of looking at a 43 Fairline which SF indicates they will insure at very reasonable rates.

The thing to make sure of is that you are fully aware of what you are purchasing in an insurance policy, guaranteed value or replacement value. There is a big difference.

just got a rate of 593 for my 89 311 SR-1 ..NE Florida .....Progressive

Just traded a 93 27 Fountain for a 93 336 Formula and my insurance with a clean record with State Farm went from $383 to $682. I probably should not complain.

http://affinity.progressive.com/entr....com&config=BT

Progressive free ins quotes on line in 5 min. :frog:

I have your boat insured with Boat US
 

I have the premium Boat US account and I pay
$300 yr in So Cal. They recently raised it from
$240.

They are one of the best insurance companies to deal with if you have to make a claim. At least here in So Cal.

Ray

All I can say is read that cheap policy word for word and compare it to others :eureka:

Caveat Emptor