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Got my new insurance quote, Want to buy a Motion?

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Old 03-11-2005, 10:08 PM
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Default Re: Got my new insurance quote, Want to buy a Motion?

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Originally Posted by LubeJobs42
The broker is very well known in the industry and proably insures many OSO members. He was actually suprised, He said he was thinking it would be between $15 to $16K with the power. The problem is the compay that use to insure me, no longer insures cats. We are at the mercy of 2 or 3 companies. They know they have us by the ****s! If I don't have insurance, God forbid something happens. As my girlfriend said, Insurance premium numbers are as big as our go fast egos!!
Am I missing something here? Did you re-power your boat or something? Because to me, an $8k increase in one year warrants some questions and explanations if your boat hasn't changed.

I must be living in a hole. Are there a bunch of idiots out there crashing the piss out of their cats that I haven't heard about? I boat at LOTO a lot and I've never heard of any cat accidents ever and that lake is a hot bed with them.

Why is the cat insurance industry taking this turn????
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Old 03-11-2005, 10:11 PM
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Default Re: Got my new insurance quote, Want to buy a Motion?

Emotion Driver from here, sold his Motion due to Ins rates I think.

They will slowly put the speed boat business out of reach for most
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Old 03-11-2005, 10:16 PM
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Default Re: Got my new insurance quote, Want to buy a Motion?

The poor get poorer and the rich richer
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Old 03-11-2005, 10:19 PM
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Default Re: Got my new insurance quote, Want to buy a Motion?

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Originally Posted by CAP071
Emotion Driver from here, sold his Motion due to Ins rates I think.

They will slowly put the speed boat business out of reach for most
If they slowly put the speed boat business out of reach for most, does this make them think that only the guys who can afford it are the better drivers?
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Old 03-11-2005, 10:20 PM
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Default Re: Got my new insurance quote, Want to buy a Motion?

Who here, would keep their boat and continue to pay an insane rate increase like what Lube has experienced?
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Old 03-11-2005, 10:39 PM
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Default Re: Got my new insurance quote, Want to buy a Motion?

WOW,a year or two ago i read the insurance article in pwr boat mag,i thought it was insane when i read about the guy near detroit who had a twin turbine boat and his insurance was over 10k a year and he said he only used the boat a couple times a year,its just crazy!
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Old 03-11-2005, 10:39 PM
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Default Re: Got my new insurance quote, Want to buy a Motion?

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Originally Posted by License To Thrill
......I think one solution is Tres Martin's driving school. One kid 21 years old went from a 29' V to a 36' Nortech. He couldn't get insurance anywhere. After he completed the school, Tres called his agent and he was reinstated......
If a 21 year old kids can AFFORD a 36' Nortech then he can afford the insurance to go with it!
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Old 03-11-2005, 10:43 PM
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Default Re: Got my new insurance quote, Want to buy a Motion?

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If a 21 year old kids can AFFORD a 36' Nortech then he can afford the insurance to go with it!

SO TRUE SO TRUE
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Old 03-11-2005, 10:48 PM
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Default Re: Got my new insurance quote, Want to buy a Motion?

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Originally Posted by Harper220
Am I missing something here? Did you re-power your boat or something? Because to me, an $8k increase in one year warrants some questions and explanations if your boat hasn't changed.

I must be living in a hole. Are there a bunch of idiots out there crashing the piss out of their cats that I haven't heard about? I boat at LOTO a lot and I've never heard of any cat accidents ever and that lake is a hot bed with them.

Why is the cat insurance industry taking this turn????
I did repower the boat. BUT, they said the magic number is 100 MPH. As soon as your over 100 in a cat your screwed. I was over 100 before the repower. I can see if I had a bad driving record or an excessive amount of claims. I have never had a claim. Anytime I have ever had any minor incident in my car, boat or with one of my employees having a minor incident, I have always paid out of my pocket. I guess that will change in the future. But then again, I will be screwed even worse!!
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Old 03-11-2005, 10:48 PM
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Default Re: Got my new insurance quote, Want to buy a Motion?

I am with you Lube if my insurance was that high I would have to sell my boat. That is rediculous. I feel lucky paying 800 for my 18 Donzi with a 6 month layup. That is just way to painfull to even think about.

May want to call up Sy for some insite anyhow.

Jon
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