Cat purchase exerience.
06-21-2013 | 01:49 PM
#1
Thread Starter
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Joined: Jan 2004
Posts: 3,467
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From: Lake Champlain, NY
Cat purchase exerience.
Just thought I'd share my recent experience, purchasing a cat. In case other dreamers, like myself, think the hoops and hurdles are not worth the trouble. I found some aspects eye opening, compared to what I had in my mind. Especially cost. Bottom line, every aspect was way easier, and less expensive than I had anticipated.
I was really concerned because of my age (37) only two boats owned (25 outlaw and Cig 42 Tiger) and zero cat experience, insurance costs would make a cat unattainable. I was pleasantly surprised.
Since Key West 04, seeing my first Nor-Tech 36, I knew that was the rig for me. When I was ready to buy and finally found one I liked, and was within my budget, I contacted Sy Goldberg. He contacted me back within a couple of hours. I asked for two quotes, one with the Tres Martin course, and one without. He told me the Tres Martin course was mandatory. The rough quote was around 3K. I almost fell over. Couldn't believe how reasonable. He called back with the firm, final quote, $3300.00. I was ecstatic. I've heard horror stories over the years of 8 to 10+ thousand. I reviewed the policy and opted to raise the liability to 1 million rather than the 300K he had quoted. It raised my rate only $300.00. I just couldn't believe it. This amount was way less thank I expected.
The next step was contacting Tres. Because there is really no class offering near me, I asked if he'd come to me. I had no idea that was an option. He said yes. He scheduled me, and just asked that I pay his flight, rental car, and hotel. He stayed with a friend so the hotel portion was saved. And Karen found him a flight that was incredibly reasonable. Again, I was so please to know how easy that part was. He came to my home, with Karen (Karen covered her own flight). In the family living room I took the course, prior to hitting the Lake in my boat with him. It was fantastic. I learned so much. He was super knowledgeable, super patient. I recommend the course to anyone, even the most seasoned boaters.
Anyhow, it seems some are under the impression the average guy can't make this type of thing work. I'm an average guy. And it worked. Was as affordable as it could be. And I'm in my dream cat and couldn't be happier.
Huge thank you to Sy, Tres, and Karen, and also Chris (cowisl) for scoping out the rig for me.
Neil
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I was really concerned because of my age (37) only two boats owned (25 outlaw and Cig 42 Tiger) and zero cat experience, insurance costs would make a cat unattainable. I was pleasantly surprised.
Since Key West 04, seeing my first Nor-Tech 36, I knew that was the rig for me. When I was ready to buy and finally found one I liked, and was within my budget, I contacted Sy Goldberg. He contacted me back within a couple of hours. I asked for two quotes, one with the Tres Martin course, and one without. He told me the Tres Martin course was mandatory. The rough quote was around 3K. I almost fell over. Couldn't believe how reasonable. He called back with the firm, final quote, $3300.00. I was ecstatic. I've heard horror stories over the years of 8 to 10+ thousand. I reviewed the policy and opted to raise the liability to 1 million rather than the 300K he had quoted. It raised my rate only $300.00. I just couldn't believe it. This amount was way less thank I expected.
The next step was contacting Tres. Because there is really no class offering near me, I asked if he'd come to me. I had no idea that was an option. He said yes. He scheduled me, and just asked that I pay his flight, rental car, and hotel. He stayed with a friend so the hotel portion was saved. And Karen found him a flight that was incredibly reasonable. Again, I was so please to know how easy that part was. He came to my home, with Karen (Karen covered her own flight). In the family living room I took the course, prior to hitting the Lake in my boat with him. It was fantastic. I learned so much. He was super knowledgeable, super patient. I recommend the course to anyone, even the most seasoned boaters.
Anyhow, it seems some are under the impression the average guy can't make this type of thing work. I'm an average guy. And it worked. Was as affordable as it could be. And I'm in my dream cat and couldn't be happier.
Huge thank you to Sy, Tres, and Karen, and also Chris (cowisl) for scoping out the rig for me.
Neil
[ATTACH=CONFIG]503123[/ATTACH]
06-21-2013 | 01:57 PM
#2
Gold Member
Joined: Jun 2006
Posts: 5,117
Likes: 959
From: Seaford, VA
That's a good thread.
I hope to be in a CAT before I'm 40 but have always said to myself that there is no way I would spend 10k/year on Insurance to boat 6-10 weekends a year (let's face it, life get's in the way).
I hope to be in a CAT before I'm 40 but have always said to myself that there is no way I would spend 10k/year on Insurance to boat 6-10 weekends a year (let's face it, life get's in the way).
