How Could This Be (State Farm Quote)
03-02-2008, 10:15 PM
#51
Charter Member # 55
Charter Member
I'd be worried. I'll bet you they have it listed as a cruiser or family runabout. I had a dealership get a quote for a boat they were selling 99 28 pantera twin 7.4/310hp and they said $350 annual. I called the insurance agent and asked why so low and he said the dealer told them it was a 28ft boat with single 7.4, top speed 50mph. Thats outright fraud IMO. After we got the facts right it came in at $1300.
I was only paying about $450 a year for my 28 Pantera with a 525SC though State Farm. That is the boat I had the drive claim on. My rate never changed over the 5 years I had it.
03-03-2008, 08:19 AM
#52
Registered
Tres...I agree, everything is good until you file a claim with SF. If you have other insurance with them, the underwriters not wanting to lose your business will try to "push the Policy through" on a boat. Was told by State Farm higher up, they dont knowingly insure High Performance boats. They look at a couple of buzz words, Cigarette, Supercharger, ect, to decide what type of craft it is. They will take your money, when their is a claim, hopfully never but. You may need a good Lawyer. Has anyone had to file a claim that is insured with State Farm? Did everything go ok? Just wondering.
03-03-2008, 09:02 AM
#53
Registered
State farm insured my 27 fountain and 28 pantera. I called them a few weeks ago about a 29 Fountain and they said no.
I got a laugh out of that, my agent is getting lazy, has his secretary do all the work now. I think it's about time to change, 2 houses, 3 cars, liability, life all with them, wonder if I'll get a call when it's all moved.
I got a laugh out of that, my agent is getting lazy, has his secretary do all the work now. I think it's about time to change, 2 houses, 3 cars, liability, life all with them, wonder if I'll get a call when it's all moved.
03-03-2008, 10:24 AM
#55
Charter Member #139 /Moderator/Platinum Member
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Join Date: Nov 2000
Location: McHenry IL /Duck Key FL
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They lost my buisness insurance, home insurance, 3 cars, 2 bikes and umbrella policy but I had no choice .
__________________
Kept the Bullet and the condo and joined the cig 20 restoration club.
Kept the Bullet and the condo and joined the cig 20 restoration club.
03-03-2008, 10:55 AM
#56
Registered
Thats reasonable for a SINGLE ENGINE. The sunsation in the post I quoted has two 7.4's. There is a huge difference in premium between a single and twin.
03-03-2008, 12:05 PM
#57
Charter Member # 55
Charter Member
Vonbongo, you need a better agent. Either that or Fountain is automatically on the Block list just like Cig.
03-03-2008, 12:14 PM
#58
Registered
Platinum Member
SF used to carry the policy on my old 38 scarab. The only reason they dropped it was because I had 4 speeding tickets at the time. Funny how they didn't drop my auto though?????
Never could figure that out.
Never could figure that out.
03-03-2008, 07:25 PM
#59
Registered
I was totally honest with hime with respect to power etc. He actually came to our home and took photos of the exterior, interior and under the hatch while the boat was on the trailer. He then even emailed the pics to me so I was aware of what he had in the file.
Someday when I can get a 41' I am sure I will have to get my insurance somewhere else.
03-03-2008, 09:15 PM
#60
Gold Member
Gold Member
1. The title is a Boatowners policy...not an automobile policy.
2. The boat length (39) and each engine model, serial number and horsepower (700) is clearly identified on the declarations page.
3. Wreck Removal. We will pay the reasonable expenses you incur for any attempted or actual raising, removal, or destruction of the wreck of your watercraft if.
a. The damage is caused by the loss insured; and
b. removal or destruction of the wreck is required by law or governmental authority.
This expense is included in the Coverage A limit. When the amount payable for damage to your watercraft plus the cost of removal or destruction of the wreck exceed the Coverage A limit, an additional 5% of the Coverage A limit is available for wreck removal expense.
The value is stated on the declarations page which is equivalent ot eh new cost of the boat.
I also have a $5mm umbrella policy over all my SF policies.
Last edited by omerta one; 03-03-2008 at 09:23 PM.
