umbrella policies that include high performance boats
 

can anyone tell me what insurance companies will unwrite an umbrella policy that includes your high performance boat? both my auto insurance company and my homeowners insurance company will not include. thanks

Excess Liability
 

I can write high liability on cats,I have a high net worth individual with a 150 mph cat that I write the primary boat coverage with my carrier (state national) with $500,000 primary liability and $4,500,000 excess on another policy.I guess that I don't have to tell that it isn't cheap.

I will post an "article" on this for you... hopefully it will help. Will have this up for you by the end of the day.

Question... what is the top speed of your boat?

State Farm holds my PLUP which includes all of my boats above their individual policy limiits.

Which Insurance Company will cover my boat under my umbrella policy
 

Often times it depends on the company....AND the amount of insurance you have with that insurance carrier. Equal-rights groups complain to insurance companies constantly that this shows favoritism.

Just like Sydwayz mentioned above, his carrier covers him. Most likely it's due to having multiple policies with them and has maintained continued business with that carrier.

I have been successful in getting many of my performance boat clients coverage on their personal umbrella policies when I write multiple lines of insurance business. However, there have been some that have been turned down too.

Often there is no definitive underwriting on this one...in reality. Yes, a company may state in writing they don't include performance boats on their umbrella policies, but as stated above this guideline could be flexible.

Devin

In reality there is no perfect answer to whether there is coverage under umbrella policies without asking the carrier you are with. Many times umbrella carriers will carve out or exclude the performance vessel for the same reason they are not the carrier you use to place the primary coverage on the boat, they are not interested in boats capable of big speed.

At Total Dollar we have in house access to an exclusive excess market with limts to $4 Million excess of $1 Million primary for vessels with speeds to 130MPH. We can also insure vessels over this speed but we must refer these to our underwriters for pricing.

The important thing to take out of this thread is don't assume because you have an Umbrella Policy that it automatically goes over your performance boat. Ask the question of your agent and get the CYA letter so you don't have to find out there is no coverage if god forbid you actually need it.

Please feel free to call any of us at Total Dollar should you find out that your umbrella will not cover your performance boat and we will glady put a package together that will cover you so you may go relax and enjoy your boat without worry.

Same here. They have my house, cars, boat and umbrella.

+2.

There is one big difference here between what DB HAMMER is wanting to cover and what State Farm covers for the three of you.... DB HAMMER has a 140mph CAT and for you guys... State Farm is covering mid performance boats for you guys under their umbrella policy. That is a really big difference in exposure to an underwriter....

I do see the captive insurers including mid performance (under 100mph) V hull boats under their umbrellas, however, I rarely see a carrier like State Farm extending their umbrella policy form over a 100+mph CAT hull boat. I think it's just out of their "comfort zone".....