Insurance

[El Toro-BGA]

I know this topic has been brought up many times, but does anyone know how to get inexpensive, but at the same time, good reliable insurance. I'm going to take delivery of a new 26 Daytona with a 525 Mercury engine and I got quoted two rates that are so shockingly high I thought it was a joke. I see new boats being built and boats on the water that are bigger and have way bigger more powerful engines in them. I'm wondering how these people even afford insurance based on the speed these boats go. The insurance people are not stupid regarding top speed when you tell them the boat you have and the engine horsepower. If you lie to them and tell them you don't have a "cat" or tell them you have a less powerful engine, when you need to file a claim, they are going to tell you to get lost. Anyways, looking for help regarding this subject. :idea: :mad:

[Kilrtoy]

Im guessing you got qouted somewhere in the neighborhood of 2800 to 3800.
That is what most people are paying and im guessing the boat does around 85MPH

[new F29]

Try 8200.00 yr 29 Dcb :hammerhea

[C-2]

I got a qoute from AAA a while back - said I was planning on putting a 600HP motor in. I was insistent upon getting a definitive answer. They broke out books, called supervisors - ultimately their conclusion was - if I didn't have Bassett style headers ("Over" the transom) - they would insure it. I would have to pay extra for increased covergae for the cost of the motor, beyond the value of the boat.
Never took them up on it, still makes me kinda nervous. I also think you can legally say no when they ask if you have headers - if you have Gil "manifolds" or similar others - then they are not classified as "headers".

[C-2]

Try 8200.00 yr 29 Dcb :hammerhea
Holy chit man :jawdrop: :cry: :jawdrop:
Maybe a Placecraft pontoon is in the near future. A 70 mph aluminum sponson pontoon boat could be an awful lot of fun on the water.
Nothing worse than buying a new custom and having a pontoon boat blow your doors off!!!!

[Havasu Hangin']

Progressive has very good (read "cheap") boat insurance available- the only catch is that 500HP is the max they will write.
I had to settle for Markel (over double the price) because I have over 500HP per engine.
They said that they were looking into higher HP boats in the future...I'm just not sure 525 will qualify. You are right about one thing- don't lie about your HP...it's like not having insurance at all.

[racecar.hotshoe]

Progressive has very good (read "cheap") boat insurance available- the only catch is that 500HP is the max they will write.
I had to settle for Markel (over double the price) because I have over 500HP per engine.
They said that they were looking into higher HP boats in the future...I'm just not sure 525 will qualify. You are right about one thing- don't lie about your HP...it's like not having insurance at all.I have Progressive and they said as long as I was under 1000 hp they would insure my boat with twins for $906.00 a year.

[boatnam2]

just put insurance on the new lavey deck boat 620 hp 1980 a year 110k agreed value 300k liability 3k deductible.like double h said i was going to lie and use progressive for 1130 a year but decided not to at the last minute.most insurance companys are going to 4% deductible well the few that write cat insurance.

[Havasu Cig]

Try 8200.00 yr 29 Dcb :hammerhea
That sounds about right. I was quoted 7k a year for a 29 with 525's. I was paying 3500 a year for my 26 w/ 800 hp.

[BoatPI]

What company was that quote with, Markel? You may want to check with Dave Giddings at Ocean Marine Insurance in the Sacramento area. He has limits, but that 525 might just fit in under the wire. You may have the two big insurance "strikes" against cheap insurance, a cat, and high HP (525). It seems today that the inexpensive insurance staops at 496 Mag.
Our offcie is doing claims work in Florida. There are thousands of claims that will go on for months. It could be the largest loss is boating history.

[El Toro-BGA]

That sounds about right. I was quoted 7k a year for a 29 with 525's. I was paying 3500 a year for my 26 w/ 800 hp.
Havasu Cig, what company or broker were you using for 3500 a year with your 26

[Havasu Cig]

Havasu Cig, what company or broker were you using for 3500 a year with your 26
Markel, but this was almost three years ago.

[Bre]

Our 25 Daytona....647 hp Markel $2700 a year