I was reading my own thread in this subforum, and there were a lot of interesting tidbits of information in there Thanks to everyone's input.

One comment caught my attention. He said that State Farm would not insure a "Cigarette" style boat, but would insure a non-performance boat even if it had the saem top speed, such as perhaps a bass boat.

So the questions is, what does the insurance industry consider a high performance boat?

Can you really insure a non-performance boat with similar performance for less?

Example: 80 mph Cat vs. Cigarette vs. Center Console vs. Bass Boat

Michael

I think there are other factors that determine whether they will insure you or not. I have home, life, several autos, etc. insured through SF. I think it depends on how much other business you have with them.

I had a 24 Superboat (75-80mph) insured by SF for 10 yrs. I bought a 30 Superboat that runs the same speed and SF said they wouldn't insure at first. A day or two later, my agent said all was well.

We have SF and have all our policies including SeaDoos thru them also. I shopped their insurance quote for our 353 with many other companies and as soon as I said 525 EFI it was no or the price went up a good amount, this was within the past couple of months.

Yep, sf cuts it off at a 525 efi. On my 496 boats they were very reasonable

I reread my post and I wasn't as specific as I should have been. SF is currently insuring my boat with 525s, for the past 2 seasons. I had it quoted with 2 site sponsors and neither could come close to SF's price or coverage. When I tried Geico they said ok until I told them 525s.

When I lived in Georgia I had SF auto, life, home and boat. I had the SF auto since 1991 when I got my drivers license. When I moved to Florida about 5 years ago they wouldnt insure my boat in Florida. Period. Never had an accident - ever.

I faded away from them since then. My auto went with Progressive and my boat did too. Home and life went to other companies.

Weather or not they insure in Florida, I always thought it was a bad business decision on their part to say NO to a lifelong customer.

Sounds like SF needs to be edumacated on boats.. I.E a 35' Fastech or Cigarette with 525's going 80 is 100 times safer than a Bass boat with a 300Hp Optimax Pro XS doing 80..... Just my $.02

To awnser the title of this thread. High-Performance Boats: Cigarette or needle boats that are capable of reaching speed in excess of 60 MPH. These boats may be used in racing or timed events.

When we bought the Donzi we called our carrier at the time (can't remember who) and they said they do not insure high performance boats. Yet our 382 Formula with 600's was ok because they insured it until we switched to Total Dollar

OK... so from the eyes of someone who knows the ins and outs of the marine insurance industry this is how I can best break down the industry.... however, remember, there are ALWAYS exceptions to every rule and this is just a post generalizing the industry in hopes to answer the thread starters question of "What is considered a high performance boat?" I have read the posts above and the one thing I need to say before diving into breaking down the industry is this (and to any State Farm agents reading this, I mean no offense!):

Since State Farm is a "captive" insurer, meaning their agents ONLY sell State Farm products, I am not privy to the inside dealings of the company all I can do is state and opinion based on my observations, my client's experiences and comments and comments from State Farm agents that call me looking to place business. State Farm is NOT to be considered an insurer of high performance boats. Now, that said, there are exceptions to every rule and based upon the region you are in, the amount of business you have with them and the boat you are looking to have them cover, they may very well insure your high performance boat. The one thing I can say about State Farm is there is ZERO consistency with what they will and won't write. I have people calling me because they have a boat with a single 525 being cancelled 90 days after getting a policy. Then I see others with their outerlimits with twin 1075s insured with State Farm. Not sure what gives with them but there isn't any rhyme or reason to what they will take.. Those of you that have a 100mph boat insured with State Farm, I wouldn't even bother shopping your coverage. Why? You have a high performance boat in a program that is designed for and has a rate structure based upon the risk modeling of family lake boats (boats capable of under 65mph)... i.e. slow boats The same could hold true for you if you have your boat with Nationwide, Allstate, Farm Bureau etc....

OK, now that I've said that, here is how most of the carrier guidelines breakdown and the categories boats are grouped into for underwriting purposes. There are many variables that can push you in and out of the programs eligibility guidelines or tiers but this is a general list:

Family Boater Products - Boats capable of up to 65mph, non-stepped hulls, deck boats, no cats, no exposed engines, engines smaller than 500HP. Some carriers that play in this category are: nearly all auto/home carriers, Safeco, Progressive, Foremost, ACE, Seaworthy (sold by GEICO), Markel, American Reliable, Chartis, American Modern and the list goes on for miles... nearly any carrier will write a "slow boat".

Mid-Performance: Boats capable of 66mph - 85mph - CATs, Vs, Deckboats, Stepped hull and non stepped hull boats. Most engines up to about 600 each side. Carriers in this arena are: Markel, Progressive, Foremost, American Reliable, ACE, AMIG, Lloyds, BoatUS

High - Performance: Boats capable of 85mph - 130mph - All cats, performance vhulls, any size engine so long as top speed is within the range given. Carriers in this level are: American Reliable (to 130mph), ACE (to 120mph), AMIG (to 120mph), Foremost (to 120mph), Lloyds (138mph), Prime (no speed cap), Markel (to 120mph), State National (130mph V, 160mph CAT)

Ultra - Performance: Boats capable of over 138mph - All engine sizes, all vessel types. Carriers in this market: State National (to 160mph), Prime (no speed cap).

So, that is the best overview I can give without writing even more of a book lol. Seriously, if I listed every exception and if this, then this... we'd be here all night!