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The LAST word in Offshore Powerboat (CAT & V) Insurance

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Old 03-17-2004, 03:20 PM
  #21
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Quote:
Originally posted by Airpacker
Its just like any mis understood insurable risk. Catamaran is a word that scare the hell out of insurers for the most part. Most visualise a dangerous water borne rocket bound to crash, hey , they have rented and watched some freeze frame movies. V's on the other hand are what most of them have or remember growing up at the cottage, not the fastest thing around but anyone can drive one, hell their mommies could drive the 14 footer with the outboard on it so how dangerous can they be?
As for the HIGH premiums in general, remember, insurance funds are a pool of premiums, fewer boats than cars so less of a client list to fill the pool and usually payouts from the boat pool are larger than from the car pool(no pun intended) thusly each client insuring a go fast boat must dump a bigger bucket of cash into the pool to keep it full. Pretty simple really.
Also don't forget that in spite of the great ones like Skater and the like, there are also some mighty poor cat designs out there.......and they certainly don't help the situation ............

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Old 03-17-2004, 03:28 PM
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Are you picking on my left coast cat again Rich?
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Old 03-17-2004, 04:21 PM
  #23
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Are you picking on my left coast cat again Rich?
Nah....you're Canadian.....U.S. rules don't apply up there.

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Old 03-17-2004, 06:28 PM
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Rich,I swear I am going to bring it back down to GLH's milk run and make you take it for a drive. That'll teach ya to mess with a "real beer" drinkin, back bacon eating hoser
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Old 03-17-2004, 06:32 PM
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Originally posted by Airpacker
Rich,I swear I am going to bring it back down to GLH's milk run and make you take it for a drive. That'll teach ya to mess with a "real beer" drinkin, back bacon eating hoser
Eh?....Eh?....Eh?

I have a bad connection

Eh?

Eh?

Earth To Canada...is there any body there?

Are you all oot?

Eh?...Eh?

Damn pointy headed Canadians......

Thank God for South Park.....Eh?


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Old 03-17-2004, 06:45 PM
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ROTFLMAO
P.S. what the hell does oot mean anyway. Yall can splain that to me cant yas?
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Old 03-17-2004, 06:54 PM
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Originally posted by Airpacker
ROTFLMAO
P.S. what the hell does oot mean anyway.
OOT is the opposite of in.......Eh?

Eh?


Eh?



T2x.............. OH CANADA...... I love that song!
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Old 03-17-2004, 07:41 PM
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A OOT is the sound one makes when using the platform on an Eliminator to dive and the whole kit and kaboodle breaks into the lake.
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Old 03-17-2004, 08:06 PM
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The insurance business is real interesting. I have a friend that did some research for me on insurance for my Skater. This is how it works. 1. It is all about supply and demand. 2 High performace makes up a small number of polices. If a carrier insures 250 high performance they use a % of the number of boats to have claims, say 2 % Which is 5 boats will have claims of say $200,000 of damage. Perminums collected is 250 boats X 1,000.00 per year=$250,000 - claims(200,000)= $50,000-administrative cost/ commision paid to agents(21,000)=$ 29,000 profit. It sounds like a great deal but it is all about numbers to the insurance compaines. I have my 24 Skater insured for $35,000 full coverage with high limits and pay $387.94 a year. I also live in oklahoma.
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Old 03-17-2004, 08:15 PM
  #30
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Default Re: The LAST word in Offshore Powerboat (CAT & V) Insurance

Quote:
Originally posted by Maximus
I believe that because its a luxury hobby the scale tilts against us?

Let's hear it.
M

OK so, what do you pay??
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