State Farm Exclusion!!!!
 

So I just opened my renewal on my 400SS Formula. This year I actually read the exclusions. In section 4 sub c the word "weather" appears. E mailed my agent and he said that this is a new exclusion for state farm. This would include hurricane, tornado, wind, rough seas, ect ect ect. WOW. I would suggest State Farm boat policy holders read and understand there is no coverage for probably the biggest hazard we face. Glad I read it. oh and BTW the premium went up a bit..........Ironic Huh

On all our policies down here you have either a regular policy or a named storm policy. You have to have "named storm coverage" to be covered during a big storm. I heard last year that that was even going to be limited up to category 3.

On all our policies down here you have either a regular policy or a named storm policy. You have to have "named storm coverage" to be covered during a big storm. I heard last year that that was even going to be limited up to category 3. Not only that but most the policies I needed to request "offshore" which is 1 mile or more offshore

I had several boats insured with SF for years. I figured I'd shop around for my current boat and SF's rates were much higher than some others. I ended up with Boat US / Geico.

Our first boat was a 27' Fountain Fever with a 502 MPI. Had everything with State Farm. They called about 3 months into ownership and said "we don't ensure race boats". I laughed at the agent. Race Boat??? Same engine as every other boat on our river.

Call Christopher Wagner at LOTO. He should be able to help you. Wagner Insurance Agency

Because they never loose, storm damage in the Midwest is a given so if they have a bunch of claims they raise rates across the board, ever hear of one going out of business ??

Got a call today from the supervisory underwriter. I filed a "RANT" with SF. They were not happy about loosing 7 other policy's. So they will show a addendum on the renewal declarations page.........In their defense after I read further details on down the page it seems to contradict itself 2 more times.https://cimg0.ibsrv.net/gimg/www.off...c8ec8b4c07.jpg

I was just denied renewal fro State National Insurance Co out of TX. It is the renewal on my 1987- 43 Portofino.
Some BS about all the storms in 2017.

Stated- Program Eligibility Changes/ Vessel No Longer qualifies for Program--- Their exact words.

Same here on the 388,

My state farm agent told me that they won't insure boats at all...no matter of type, age, power anything...maybe a Michigan thing??

I've had State Farm boat insurance for 20+ years and know lots of others that have them.
The previous owner of my boat was in Michigan and he told me he had State Farm as well.
From what I know, its all about your relationship with your agent and how much business you have with them.

Not disagreeing with you griff but I have a great relationship with my agent and have my home/farm and several vehicles with them and that's what he told me...so unfortunately I had to shop elsewhere...not sure what the deal was but that's just what he told me...I will def be doing some more shopping soon however as my current carrier I believe is over charging me but that's another story haha

State Farm files policy language, rates, and makes underwriting rules by state, so it depends on which state you live in. They are boater friendly in Missouri and around LOTO.

Being in the car business I see clients fighting with state farm every day, they will do anything to save a penny. i took my 6 cars, homeowners, life insurance policys, umbrella, motorcycles everything away from them and went with erie.

A little off topic, but my whole family had the same SF agent for decades on everything. I got hit head-on when the oncoming cars tie rod broke, car should have been totaled. They insisted on fixing it, when I went to check it out the frame was twisted over 2". They even tried to say the accident was my fault. SF wouldn't fix it, had to hire a lawyer, they ended up paying over $1000 more than I told I would settle for if the totaled it plus their legal fees. I wouldn't use SF it was free. I'm with Progressive through Worldwide Marine, they have been great to deal with and super good on covering claims. I hit something submerged and stopped the boat and checked the prop and drive and couldn't see any damage so we went on our way. The following weekend we were out cruising along and the boat just stopped and the motor stalled. I couldn't get it out of gear and I knew what happened, the drive grenaded. Got a tow home and pulled the drive off and sent it to AADS. George pulled it apart and the prop and vertical shafts were twisted from the previous impact, must've cracked some teeth. Because I didn't have a claim for over 5 years they covered it 100%.

Just now reading this, but who is your agent? Heidi Lull might be one to talk to. Depends on the agent. Griff's old boat was through a different agent, not sure who. I even moved and changed agents and they still wrote my boats. But I also told the agents, once the boat has to move it all moves. That worked even when I had less "stuff" insured than I do now, but I know with my policies now, he'd have to find 6-10 other "average" total premium new customers to replace my stuff. So, it's worth a little of their effort to explain that to underwriting and push for the customer. You do have to be reasonable on HP though. If you are closer to stock hp ratings, that's good. If you are 1100 hp per motor, there's not much talking the agent can do. That's hard to find insurance anywhere. It's pricey as a result.

Actually since that post I talked to my agent more about it and explained that I have heard of "local" people being insured through them basically siting this thread as an example. Low and behold it took 2 weeks of him talking with under writing and pics of the boat and motor etc but they did eventually write it and it was 125 bucks a year cheaper than progressive so that was a bonus. He said at first that under writing told him they won't insure "speed boats having a sleek appearance and pointy nose" were their exact words. I said well uhhhh that's what I have and after reviewing the pictures and some persuading from him they finally took it...think he mentioned a HP or speed limit but can't remember what it was

I've been following this thread for a while and was concerned because I have state farm on everything including the boat. Well last year after my policy renewed I unfortunately had to file a claim and they ended up paying out approx 20k for repairs of the boat. After finding out that I was scammed by the place that was working on the boat and it should've been something the shop paid for repairs not my private insurance that's a different story. I was afraid this year when my policy was up for renewal that State Farm wouldn't honor a renewal especially after everything Ive been reading. Well that wasn't the case they renewed and I honestly don't think my annual premium even increased. Ive been happy with them and even after last years nightmare they were great. Now after another set I receive the new motors and put them in I need to figure out and see if I can get additional coverage for the extra stuff I now have or at least some of it.

After reading some of the posts about State Farm I think that they have a strategy of telling clients they will issue policies and then cancel them after the premiums have been paid. I have seen multiple people report this and it has happened to me twice.
The last time when I was wanting to insure my little 22 Daytona. I called the State Farm office and told them exactly what I had and I told them that it was likely that they couldn't insure it. They checked and reported that they could in fact insure it. I received the binder and about a month later I got a notice that they cancelled my policy. I had to jump through a few hoops to get a partial refund. I think this is a business strategy either by the local agent or State Farm to make a little more money. I would recommend everyone not even bother with them.
We had a huge hailstorm here and State Farm insured people found out how bad of a company they are.

Interesting business model you propose. Let's go through all the expense of putting a new policy on the books, then immediately cancel it, return the unearned premium, therefore making sure we are losing money since the expense far outweighs the small earned premium. If accurate, pretty sure they will be out of business soon.

Agree with mentalpause and griff. It’s all about agent and relationship at least in Missouri. I actually called on a 100mph + Apache last summer and my agent said no problem and gave me the rate. Rate was crazy high compared to current slower Apache but totally different animal.

Years back I had a sf agent that wouldn’t insure some of my higher risk rental properties and wouldn’t insure a Sonic I was looking at (even though seller had Sonic insured with SF).

So, I found and agent that wanted to play ball and things have been good for he and I going forward. I have had a totaled vehicle and some various property claims over the years and never an issue with the claim.

So, for me I have had a positive SF experience. They aren’t the cheapest but for me their is price and cost. Until I have a reason to leave I’ll stay put.

I'm in Colorado, and have been with State Farm since 1985. I have never a problem, but have only had minor claims. When I went to them to insure my custom 28' CC Cigarette, and all that I had to do was send my agent some pictures and HIN. Merc serial #, and trailer serial #. It was covered the same day and has been insured for over 10 years.

I have SF, couple years back had a header lose water, got red hot, started rubber exhaust hose one fire,ext ext ext. They couldn't have been easier to work with, actually gave me choice to fix or total. Choose the ladder and started over.

Oh yeah, was not a jalopy. Cut me a check for 90,000.00 and I kept the trailer

Insurance is the only other legal form of gambling in the US, the more you buy, the more money you lose.