Due to the fact that many our clients have both HP and CC boats being built with hull values that exceed $1,000,000 our A RATED,ADMITTTED, (NOT SURPLUS LINES) DOMESTIC carrier has agreed to insure any hull value.The speed limit was recently raised to 180 mph for cats so it appears we have covered most of the hard to place insurance scenarios.I will need 1 day to provide a quote for boat values over $1,000,000.
Sy Goldberg

856 767 8134

I so wish I had something like this to worry about

I agree and am sure we are not alone.

Can you imagine bean counters sitting in a board room having the discussion on how to "increase sales/profits" and someone mentions: "We should insure million dollar boats that go 180 mph and are driven by amateurs on open bodies of water!"...........They must of needed Sandy Lyle for that presentation!

https://www.youtube.com/watch?v=XuajBfwiuug

We do not insure "amateurs",We leave them for the LLOYDS or SURPLUS LINES insurance companies.I have many clients in this category who are on their 5th or 6th boat with Total Dollar and have been vetted properly.I guess this is why we have a great loss ratio,,an agreed value policy,is ADMITTED and DOMESTIC, and backed by one of the largest reinsurance companies in the world.

This is great news! With a couple of my clients close to finishing some very expensive center consoles and cats it couldn't come at a better time! Being the only outside agent able to offer this program I use it as often as I can. Now having the higher limits and speed I am able to keep my clients with a A rated US admitted carrier when they move up past the million mark. Sometimes we must go outside to other carriers that are non admitted do to experience or type/size of boat, I try to limit that to be sure my clients have the best coverage available. Another nice feature about the program is not having the $200,000 sub limit that some of the non admitted carriers have. As Sy stated there are guidelines that we must follow to insure the future of our program, howevert for those that get written with it they are written with a good solid policy.