Got my new insurance quote, Want to buy a Motion?
03-13-2005, 07:55 PM
#61
A to Z
Platinum Member
Re: Got my new insurance quote, Want to buy a Motion?
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 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????
plenty of cats having problems at LOTO... morgan's kid flipped/rolled his doing "50"
the HTM that blew over at the shootout two years ago... been a couple of others go for a ride lately down there... saw some running fast this weekend... man that wanted me to get the boat on the water.... but nope, my layup says may 1
03-13-2005, 07:57 PM
#62
Re: Got my new insurance quote, Want to buy a Motion?
Originally Posted by LubeJobs42
I just got my new insurance quote. This is such a bunch of Crap!!!! My old premium was $4300 per year. I am 38, clean record, no claims, Life time of boating experience, 10 years Cat experience, Guess how much!!??
$12,886.54 for 12 monthes with a $7500 deductable!
I have family members that loan money at high interest rates, I'm ging to tell them to go into the cat insurance biz!! Much more profitable
$12,886.54 for 12 monthes with a $7500 deductable!
I have family members that loan money at high interest rates, I'm ging to tell them to go into the cat insurance biz!! Much more profitable
03-13-2005, 07:58 PM
#63
Registered
Re: Got my new insurance quote, Want to buy a Motion?
Originally Posted by Sean H
plenty of cats having problems at LOTO... morgan's kid flipped/rolled his doing "50" the HTM that blew over at the shootout two years ago... been a couple of others go for a ride lately down there... saw some running fast this weekend... man that wanted me to get the boat on the water.... but nope, my layup says may 1
the HTM that blew over at the shootout two years ago... been a couple of others go for a ride lately down there... saw some running fast this weekend... man that wanted me to get the boat on the water.... but nope, my layup says may 1 
03-13-2005, 08:01 PM
#64
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Platinum Member
Re: Got my new insurance quote, Want to buy a Motion?
Originally Posted by Lime Disease
Try to get insurance on a crotch rocket. IF you can your looking at 5k insurance on a 10k bike At least the boat ins.is
high dollar coverage. No cat in my future and I want one bad.
high dollar coverage. No cat in my future and I want one bad.
rc51 $449/year $500 deduc
spectre 30 $4k/year $3k deduc (i think).... 6 month layup...
percentage wise of value they aren't that far off... still makes me mad though...
oh yeah, my 30k chopper (top speed 100?) cost more than the rc51 because of the chopper craze and the thefts it has started...
Last edited by Sean H; 03-13-2005 at 08:04 PM.
03-13-2005, 08:02 PM
#65
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Re: Got my new insurance quote, Want to buy a Motion?
Originally Posted by JCPERF
And the Spectre cat that will flip this year borrowed by Masher hammered on sour mash whiskey.
03-13-2005, 08:53 PM
#66
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Re: Got my new insurance quote, Want to buy a Motion?
I just renewed with my 36 skater and my policy went up only $100.00. I cant see where last years accidents hurt my rates. I would say your insurance hike was due to the increase in power, or the switch in insurance carriers. Still, the rates are way out of control. What we need is more insurance carriers to give more competion, which equals lower rates. When only two companies are underwriting policies, they can charge whatever they want. They have us over the barrel eright now, all we can do is wait for the pendulum to swing our way with more underwriters entering the market.
03-13-2005, 09:02 PM
#67
Re: Got my new insurance quote, Want to buy a Motion?
Originally Posted by open wide
I just renewed with my 36 skater and my policy went up only $100.00. I cant see where last years accidents hurt my rates. I would say your insurance hike was due to the increase in power, or the switch in insurance carriers. Still, the rates are way out of control. What we need is more insurance carriers to give more competion, which equals lower rates. When only two companies are underwriting policies, they can charge whatever they want. They have us over the barrel eright now, all we can do is wait for the pendulum to swing our way with more underwriters entering the market.
03-13-2005, 09:08 PM
#68
Registered
Re: Got my new insurance quote, Want to buy a Motion?
Originally Posted by sy goldberg
The claim that took BLACKADAR marine insurance out of business was a turbine cat in CHESAPEAKE BAY.The claim amount was $2,000,000 and there was not enough premium money in the pot to sustain the program.I can only say that the companies that are still writing cat insurance do not want this scenario to happen to them.
Why don't they spread the risk with reinsurance. I can't believe that a $2,000,000 claim broke the company, doesn't the department of insurance require a company to keep reserves or reinsure? Would carrying a seperate umbrella policy for liability help?
Maybe someone in the biz needs to set up a deal for performance (and I use that term real loose) boaters like AOPA has for airplane insurance. Some kind of Co-op.
03-13-2005, 09:13 PM
#69
Registered
Re: Got my new insurance quote, Want to buy a Motion?
Originally Posted by Sean H
the HTM that blew over at the shootout two years ago...
03-13-2005, 09:25 PM
#70
A to Z
Platinum Member
Re: Got my new insurance quote, Want to buy a Motion?
Originally Posted by Von Bongo
Should't have hurt permiums, I doubt the insurance has to pay when you are participating in a "race". That is my understanding. I would think you would have to take out a 1 time high rate policy to be covered.
probably not in that case, but that still doesn't help....
