Cat Insurance
#21
Gold Member
Gold Member
#25
Registered
alot has changed in the last 30-60 days. 120mph is the sweet spot. there are only 1-2 companies underwriting above that speed and they are hen pecking who they accept and "IF" they accept you the premiums are damn near doubled. that was one of the key factors for my client that just purchased a new Mystic C3800 cat w 450's as it's only a 110mph boat and was easily insurable thru Christy at WIA
#26
Offshoreonly Advertiser
Offshoreonly Advertiser
Join Date: Jan 2001
Location: spring valley,ny usa
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High premium for cats over 120
There is a valid reason for high premiums on these cats.The claims are usually high dollar or even worse,fatalities involved.I know because in my many years writing policies for fast cats the worst 2 phone calls I ever received were from 2 new widows that lost their husbands and relatives over the weekend.There are still lots of people buying fast cats and paying big dollars for them. There is only one US LICENSED,,ADMITTED,NON SURPLUS LINES company and they are still writing these policies for over 11 years because of careful vetting of the operator.
#27
Registered
There is a valid reason for high premiums on these cats.The claims are usually high dollar or even worse,fatalities involved.I know because in my many years writing policies for fast cats the worst 2 phone calls I ever received were from 2 new widows that lost their husbands and relatives over the weekend.There are still lots of people buying fast cats and paying big dollars for them. There is only one US LICENSED,,ADMITTED,NON SURPLUS LINES company and they are still writing these policies for over 11 years because of careful vetting of the operator.
sooo are you actually ever going to say who the company is?
#28
Gold Member
Gold Member
Sy, with typical liability limits, my turbine boats were costing about $5k for every $100k worth of hull coverage annually. So, a $400k boat would be about $20k a year for insurance. Is this still around the same pricing you’re seeing now?
#29
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