Insurance
 

Hi guys, soon to be powerquest owner that needs some help with insurance. I have gotten two quotes that seem to be high. I have another boat and have been a boat owner for 9 years with no claims and pay $550 per year for a 27 foot boat. The new quotes for a 2001 Avenger with 500 EFI's have been around $3,000, does that sound right? Who do you guys use? Thanks in advance for your input.

BMAC13, I used to pay around $1200.00(?) for a 1999 280, single 502. I'd try some of the performance marine insurance companies - I know OSO Sy Goldberg does insurance. Check the OSO links page...

Good luck, that 300 looks like a real nice boat!

Good for you, which one are you buying? That seems high, the guy who bought my 38 got ins. for about $2100. I paid $130 every quarter on my homeowners. Somehow I got them to do it that way.

We went with Sy this year. Knock 1/3 off your quotes and thats what we paid with coverage from Maryland to Florida. We have a 2001 with the 496HO's. Congrats and good luck.

Thanks for the suggestions, I contacted my home owners ins. and a couple of other companies. Hopefully I can get it down to about $2,000.00. I'll let you know if I find a reputable company with cheap rates.

I used to own a 290 PQ with 454's. Paid $750 per year with State Farm. Just bought an AT 37 AVH with 500 EFI's. Insurance went up to $1400 per year. $3,000 sounds high.

Make sure you compare apples to apples. Replacement versus gaurenteed value policies will have very different premiums.

Thanks for the suggestions guys but I can not find anything under $3,000. Does anyone have a specific insurer that I could try?

Try Sy at Total Dollar.
My 340 is with him. Just under 2K a year.

Seems high. I wouldn't want to pay that much.

I can give you the name of someone I work with in Michigan. He quoted something like $1200 for a 38 I was looking at with 500's. That was replacement value also.

If you have the name and number with the guy in Michigan I could certainly use it. I called Total Dollar and they are not getting back to me with the quote. I need ins. by 12/16 because I am having the boat hauled from Michigan to California. Thanks.

Call Sy direct.
You can get his direct # off his website.

I spoke with Sy directly and he said he can get back to me in an hour. Thanks.

Talk to Dave at 586-727-7511 for boat insurance. He writes a lot of boat insurance.

NOt looking at a 38 PQ, but a 38' range boat and I'm calling for insurance as well. I've found it to be around $2500 give or take $400. I have state farm now, they won't write anything else for me along the high perf boat lines. They're turning business away right now. The quotes I've gotten are all from the same two companies. ACE and Markel. Both are high, but offer better coverage than State Farm. $3,000 sounds a little high, but not too far off, but it depends on what you're getting, low deduct, high liab, etc.

Interest rates are great, but insurance prices are high, there is less competition now, so the companies left in the high perf game are charging accordingly.

I'm no expert, this is just what I've been finding out in my research. Instead of trying to justify the boat payment, I'm more concerned with insurance. Mine is going to go up the same range as yours, and that's hard to chew.

Mark

Thanks Bill R, I did end up going through Sy, he was very responsive. The ins. company is Ace. Fever 32, you are right about few companies offering coverage on high perfomance boats, as soon as I said the boat will run around 80MPH they pretty much hung up. I thought about lying about the speed but spoke with a friend that made a claim two years ago and the company investigated the "real" top speed and would have denied the claim if he had lied. So in the end I piad $2,870.00 running the ins. through my company which did add a bit of a premium (roughly $400). Thanks for everyones help. I will let you all know how the boat runs. It has 500EFI's with the its system that has a 7" stand off box.

Pictures, post some pictures.

Sy, I'll take "MY" commission now please.