Insurance Company Suggestions for new boat?
 

Time for me to delurk on the board. We just finalized the purchase of a 2000 Cigarette Tiger and need to get reasonable insurance on it. We tried to go through United Marine Underwriters and they told us that they would not insure a supercharged boat. Who do you guys recommend for insurance that isn't sky high? Thanks in advance for the help.

Re: Insurance Company Suggestions for new boat?
 

SY at total $

Re: Insurance Company Suggestions for new boat?
 

sounds like you have one awesome boat, I just bought a 35 lightning[sold the baja] and after pricing several agents I came across Trafalgar marine insurance services out of Irvine CA, they are writing me a binder[markel ins] that saved me some money. Call Diana Carrillo at 1800 2213884,

Re: Insurance Company Suggestions for new boat?
 

total dollar, sy...... don't waste your time anywhere else

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Check with Bob at Worldwide. He's on OSO and runs the Smoke on the Water Poker Run.

Re: Insurance Company Suggestions for new boat?
 

Sy aka Super at Total Dollar is the one to call :evilb: :D :drink: :evilb: :D :drink:


Drew

Re: Insurance Company Suggestions for new boat?
 

Keep us posted - have heard a LOT of agents claim they can do it and most fall thru.

Re: Insurance Company Suggestions for new boat?
 

SY will even insure a cat with big power they say.

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I also have used Sy at Total Dollar for my 2000 Tiger. He has helped me out tremendously in the past. And is very competitive. $3800.00 for the year as long as it is under a 100mph

Re: Insurance Company Suggestions for new boat?
 

Bob at World Wide.Great guy to deal with and very knowledgeable.

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Try Buzz at PMA.Knowledgeable,courteous,efficient,and usually the lowest price.954-583-5558.

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have a year old 04 tg cigarette looked all over and bob at worldwide was the best. just renewed, no layup time. i have not tested him with a claim butt very happy so far!

Re: Insurance Company Suggestions for new boat?
 

Thanks for the suggestions....i'll be calling around today to get some quotes....never thought that marine insurance companies would run away from s/c engines....live and learn. As soon as I upgrade my membership here on OSO I'll drop in a few pics off the new boat.

Re: Insurance Company Suggestions for new boat?
 

Nacoma, welcome to the board.....Great group with unlimited knowledge

Dito on Sy,

Re: Insurance Company Suggestions for new boat?
 

Nacoma,
I'll second on Bob @ Worldwide Marine. He is very good.
Welcome to the board and can't wait to see pics of your boat.
MD

Re: Insurance Company Suggestions for new boat?
 

Sy would't insure an 05 sunsation w/ h.O. boat owner for 15 years, boat operator for 25, h.p. boat owner for 3 years at the time. both wife and I have boating certificates. wife was boat owner for 3 years before we met. one prior claim in 15 years.

Bob and several others wated upwards of 1,700-2,500 we went with state farm for 550.00

although I doubt state farm would take that boat..

Re: Insurance Company Suggestions for new boat?
 

I went with Lenny at AMI www.Yachtquote.com or 1-866-805-3691

Great service and what I think is a great rate.

Re: Insurance Company Suggestions for new boat?
 

state farm is known for taking boats that they have no idea what it is.... beware.

They wouldn't touch my 100+ spectre.... :D :D :D

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Sean-
State Farm took my Concept and then tried to cancel the policy. After a few phone calls the policy was re-accepted by the underwriters. Is this something I should be concerned about if I have a future claim??

Re: Insurance Company Suggestions for new boat?
 

Give old man Sy a call @ total dollar, Just don't tell him I sent you :D Also good luck with the boat and welcome to OSO :drink:

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Does anyone have Bob's # at worldwide
Thanks

Re: Insurance Company Suggestions for new boat?
 

1-800-339-1235

Bob and Sy are the only two out there worth messing with. Beware of getting Marine insurance from a car insurance place. It's all good until you need to make a claim!!!

Sy's # is 888-226-2846

Re: Insurance Company Suggestions for new boat?
 

they took my boat, gave me a binder, i gave them my money and all was well for a about 2 days until i got a call from the underwriter... my agent is a good family friend and he has insured everything i have ever done or owned and we thought nothing about adding the cat to the list... he dug into it a little and found out that they have had some problems with boats that weren't insured correclty and some disputes come claim time.... i went to total dollar and then had my state farm agent go over my new contract.

i have never had a problem, but it sounds like others have, and i think there is a thread or two on here about state farm or another carrier with the same story...

always becareful when you get a "good" deal on insurance, it might not be worth the paper it is written on if you can't get your claim paid....

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State Farm wrote my 03 29 Fever 525efi, then cancelled it. They wont touch a 502 or bigger motor. Be very careful with them.

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Guess it's a good thing I got it with a 496 H.O. :D it's only 10 hp more than a 502...

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Wow! It pays to shop around... I use ACE (Inamar) for my 2001 28 Daytona with 496 ho's. $783 annual... I can't imagine paying 2k, 3k, or 4k a year for boat insurance. Insurance is nothing but a big racket!!

Re: Insurance Company Suggestions for new boat?
 

Just switched from Total Dollar to World Wide.
$1000.00 Dollars less for the exact same coverage and have no layup or navigational restrictions like the one Sy had.

I also found out that my policy had been written for non Tidal waters and excluded the Great Lakes, this is where I boat :eek:

Is this Sy's fault :confused: or should of I read the policy closer? All I know is I feel lucky I never had a claim and feel good about saving $1000.00 a year with a better policy.

For me Bob at Worldwide is a no brainer :drink:

Re: Insurance Company Suggestions for new boat?
 

it always pays to read a policy that is backing $100's of thousands of dollars.....

Re: Insurance Company Suggestions for new boat?
 

worldwide has me for twelve months useage and off shore up to 50 miles, i just reviewed and renewed my policy with them. like others say, beware and review what you think you are getting. make sure if you have someone else transport your boat that they have cargo insurance. my policy will not cover me if somone is transporting my boat for me. they may have a policy to cover them, butt make sure they have cargo insurance as to atleast the value of your boat.. that is what i was just told....

Re: Insurance Company Suggestions for new boat?
 

Sy is the Man

PUT ME WITH A GREAT COMPANY PAID A HUGH CLAIM IN LESS THAN 3 WEEKS

Re: Insurance Company Suggestions for new boat?
 

Define racket - you pay that 783 annually for a few years and have a total loss and get payed 100K. Hopefully it won't happen, but when it does you will be glad you participated in that racket. Or worse yet you accidently hit someone and cause damage and injury. Who pays? You are protecting your assets, future and family.

Everyone has choices. Pay cash and don't insure - also hope you don't ever cause damage or injury to someone else. If you do, you will be working for them for a long time.

Seems to me you are getting a pretty fair deal.

Re: Insurance Company Suggestions for new boat?
 

I'm with World Wide on my 28 Daytona. Give Bob a call.

State Farm had it the first year when I had 330 stock engines.

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I'm not complaining about my boat insurance, $783 seems very reasonable compared to the guys that pay 2k, 3k, 4k or more a year on a $100k to $300k boat.

I'm just generalizing about insurance as a whole. You can't actually tell me that you've always been perfectly happy with your insurance as far as the cost to insure and increasing rates. If you've ever had a claim, were you always happy with the outcome?

My house, truck, business, unemployment and health ins. adds up quickly and keep going up drastically with no sizable claims in years, but late premium by one day= cancellation of coverage or SOL. Pay premium on time= sorry we can't cover your claim for some goofy reason and you're still SOL. Insurance companies demand very gutsy premiums, but when it comes time to pay, they want to pay out the least amount possible if not pay anything at all.

Sorry for venting, I just get a little worked up over insurance. It's not a fair game...

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I think Insurance $$$ is what's hurting the cat Market. I was talking with a friend the other day and told him I would be better off and further ahead If I paided him $1,000 a day just to ride in his boat to get the thrill of the speed.

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Bob at world wide wrote mine, good guy...

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Not true my friend !!

Buzz at PMA is also very much capable of writing a good policy at a great rate. He knows High performance boats and what he is writing. He and Sy both use Ace.

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I just had a new boat insured with Sy.. Previous boat was with State Farm but they wouldn't touch the new one..

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My bad!!! Never heard of Buzz, but I'll take your word for it. By the way, Your Harley at OSO HQ runs great!!! :p :D :drink: :evilb:

Re: Insurance Company Suggestions for new boat?
 

I agree the rates are hard to stomach at times. And some companies are obviously more efficient than others, and have more competitive rates. But I'm not sure all rating issues fall at the feet of the insurance companies. Rates have many factors, and fraud and litigation are two that have a big impact. Litigation is impacted by local state laws. Plus all states have insurance commissioners that in some cases, have to approve those rates. Ask a trial attorney why they pick certain places to try class action suits (southern Illinois being one). They do it because the jurys in those places like to give out huge awards. And then we all get to pay higher premiums because somebody got a verdict for 100 million.

Now claims service is another story, and I agree with you that is at the feet of the insurance company. Beware of small print in the policy of things which are not covered. And if you just get bad service, that tells you something about the company you are with.

Another impact on your boat insurance is where you boat and how you use it. My rates went down significantly when I put my boat on LOTO, nice deep lake with nothing but lots of other boats to run into. When I boated the rivers and shallow lakes in Illinois my rates were almost 50% higher. Much more likely to hit a log, or bottom out somewhere.

Re: Insurance Company Suggestions for new boat?
 

Call SY at total dollar. Also, taking Tres Martins course will also probably drop your rates and teach you to handle your boat correctly so hopefulyl you never have an insurance claim. He will also teach you everything about a stepped hull and cat (handling, dynamics, maintence, etc.) Definetly a neccesity even if youve been boating for years.