PDA

View Full Version : 29' V Insurance choices???????????



Essex29
02-11-2005, 09:42 PM
Any of you guys with v-bottoms and blown motors have any tips on getting a decent rate on insurance??
These are the quotes I have so far...
Markel
4 month lay up
64k value
6k trailer
2500 deductible
$$$$$$$$3500.00/year
SkiSafe
4 month lay up
64k value
6k trailer
7500 deductible for theft or comp claims
2500 for any other types of claims
$$$$$$$$2700.00
All I have is a 29 Essex with a HP500 procharged 765hp
It seems that its catching up with the cats...wtf?

Havasu Hangin'
02-11-2005, 09:51 PM
That quote from Markel sounds high.
I have a higher agreed value, no layup, $1,400 ded, and two blown motors for $2,600.
What are your limits?

Essex29
02-11-2005, 09:53 PM
limits were not crazy..I think they were 300 k per occurance and I think the same for uninsured.
Who did you go through?

CornWater
02-11-2005, 09:56 PM
You definately need to shop around... way to high for that boat.. just got a quote for a 35 nordic, 500 efi's, for 1400 a year...at 500,000 per occurence.. :confused:

Havasu Hangin'
02-11-2005, 10:00 PM
limits were not crazy..I think they were 300 k per occurance and I think the same for uninsured.
Who did you go through?
Worldwide Marine
(800) 339-1235
$300K Liability
$5,000 med payments
$300K Uninsured
$500K pollution
That includes a 30 mile offshore limit. I put a 5 month layup, and they only knocked $238 off, so I'm not going to mess with it next year.
Maybe it's all those felony evading tickets on your record? :idea:

rrrr
02-11-2005, 10:02 PM
You definately need to shop around... way to high for that boat.. just got a quote for a 35 nordic, 500 efi's, for 1400 a year...at 500,000 per occurence.. :confused:
How about listing the company's name? :rolleyes:

Havasu_Dreamin
02-11-2005, 10:02 PM
We've got the same boat, albeit not blown, and we have a $1MM policy that is $800 and change per year.

Havasu Hangin'
02-11-2005, 10:06 PM
There's a biiiiiiig difference between Progressive's (500HP) rates and blown motors. Progressive wanted around $1K for my boat (if I took the blowers off).
:umm:

Steamin' Rice
02-12-2005, 07:24 AM
Call Sy GOldberg with total Dollar insurance.. 845-356-7251
He got my new 34 Shockwave with 525's insured for $2700 per year, no layup and offshore coverage through ACE insurance. He said it doesn't matter if the boat has blowers or not as long as the top speed is below 100.. For 100 MPH and up he has another program that is more expensive..

cdog
02-12-2005, 08:45 AM
Sounds like it's the HP rating that is killing you. The cut off for progressive is at 500 HP. After that they start getting expensive. My 29 Shockwave is just under 1200 a year and that's for a 540 BBC rated at 480 HP. The boat's replacement value is set at 100k for the first two years. If your boat sinks or burns up or gets stolen the replacement value is more inportant than a 5k procharger. Rate it at stock HP 470 HP and forget about the blower and increase the replacement value. The devil is in the details.

Havasu Hangin'
02-12-2005, 09:01 AM
Rate it at stock HP 470 HP and forget about the blower and increase the replacement value.
How about the guy who sunk his Fountain on the first trip out (bellows broke). When the insurance found out he lied about the HP...claim denied.

CornWater
02-12-2005, 10:39 AM
How about listing the company's name? :rolleyes:
It was through Progressive as well.. under 500 hp is all the difference..

Havasu_Dreamin
02-12-2005, 12:05 PM
Rate it at stock HP 470 HP and forget about the blower and increase the replacement value. The devil is in the details.
I'd hate to do that and then have to file a claim and the insurance company finds out the motor was not what you stated and they deny your claim. If someone can't afford the insurance by being up front with the insurance company, perhaps they should consider a slower/different boat. Just my $.02

cdog
02-12-2005, 12:42 PM
I'd hate to do that and then have to file a claim and the insurance company finds out the motor was not what you stated and they deny your claim. If someone can't afford the insurance by being up front with the insurance company, perhaps they should consider a slower/different boat. Just my $.02
It depends how you look at it. If you have a stock mercruiser engine then quote the HP rating. 500 HP = 470 HP Have you put the engine on a dyno? Do you really know the exact power? I'd bet not. Do you think they're going to pull the engine out of the boat and dyno it to find out the true HP after it's been at the bottom of the ocean or lake. In my situation this work's just fine for me. You, mabey not. Just be conservitive when throwing around your HP figures to the insurance because your probably over esimating the power it makes anyway. Insurance is a joke most of the time anyway. There going to F U and give you what they think the boat is worth should something happen so it's only really coverd for the first two years as a replacement value and you state that when you get the insurance. Basicly if a catolog says that you will make 780 HP with the procharger, i'd call it 600 HP at the prop. Need proof. Then put it on the dyno.

Havasu Hangin'
02-12-2005, 12:48 PM
...i'd call it 600 HP at the prop.
Still expensive. There's a biiiiig gap between a Progressive 500HP policy and 600HP Markel or Ace policy, and Progressive won't touch 501HP and up.
Been there...tried that.

cdog
02-12-2005, 01:21 PM
Still expensive. There's a biiiiig gap between a Progressive 500HP policy and 600HP Markel or Ace policy, and Progressive won't touch 501HP and up.
Been there...tried that.
Ok, but you see my point now right? Nobody is going to insure a exaggerated death trap. Me being in that situation i'd say I have a 500 efi engine rated at 470 HP and I added a supercharger. If they ask for a HP rating i'd give a conservitive estimate at about 600 HP.

Havasu Hangin'
02-12-2005, 01:24 PM
Ok, but you see my point now right? Nobody is going to insure a exaggerated death trap. Me being in that situation i'd say I have a 500 efi engine rated at 470 HP and I added a supercharger. If they ask for a HP rating i'd give a conservitive estimate at about 600 HP.
I know where you are going, but I don't think there is much of a $ difference between a Markel 600HP policy or a Markel 750HP policy.
They both suck.

Essex29
02-12-2005, 03:51 PM
I know where you are going, but I don't think there is much of a $ difference between a Markel 600HP policy or a Markel 750HP policy.
They both suck.
man...it must be the felony dui that's killing me....j/k
I can't/won't lie about the hp it's just not worth it to me to lose out on a claim if I ever needed it.
I'll check with worldwide on monday...hopefully they can help.
BTW-I wouldn't be typing out that you are lying about your hp and then post pics of your boat...I'm sure insurance adjusters are on the site...just a thought

cdog
02-12-2005, 05:35 PM
man...it must be the felony dui that's killing me....j/k
I can't/won't lie about the hp it's just not worth it to me to lose out on a claim if I ever needed it.
I'll check with worldwide on monday...hopefully they can help.
BTW-I wouldn't be typing out that you are lying about your hp and then post pics of your boat...I'm sure insurance adjusters are on the site...just a thought
Man you just don't get it do you? Who's HP rating are you going by????? Your own. Well hell you might as well be calling it a 1050 HP blower engine. In your case Grey Goose. The only rated HP you probably have is 470 HP from Merc on your 500 efi. Now since you have a supercharger go ahead and disclose that. Your figures on 750 HP came from where? Did you dyno it to verify that? How fast can your boat go? I thought you were building a 540. The HP figures your so stuck on is a calculation of torque. There for don't really have any true measurement of real engine power. AND BTW....... A dyno can be fudged to change any amount of TQ and HP to read high or low numbers so all i'm trying to tell you is don't scare the insurance man away with your un verifiable HP #'s. Man, I'm trying to help you out with a little fact's 101 here.

Essex29
02-12-2005, 05:43 PM
Man you just don't get it do you? Who's HP rating are you going by????? Your own. Well hell you might as well be calling it a 1050 HP blower engine. In your case Grey Goose. The only rated HP you probably have is 470 HP from Merc on your 500 efi. Now since you have a supercharger go ahead and disclose that. Your figures on 750 HP came from where? Did you dyno it to verify that? How fast can your boat go? I thought you were building a 540. The HP figures your so stuck on is a calculation of torque. There for don't really have any true measurement of real engine power. AND BTW....... A dyno can be fudged to change any amount of TQ and HP to read high or low numbers so all i'm trying to tell you is don't scare the insurance man away with your un verifiable HP #'s. Man, I'm trying to help you out with a little fact's 101 here.
Dude, as soon as you add a blower you have to go with hi-performance insurance...I don't like paying 3x the amount to insure my boat, but piece of mind is worth it.
I had a 540 built, just not using it at the moment...wanna buy it?

cdog
02-12-2005, 05:49 PM
Imagine this.
Put a new Duramax in your boat with the edge Juice. Now factory it has 300 HP and 620 Tq. Set it to the max and now you have 450 HP and 925 TQ. Estimate. A boat with that amount of TQ would run a 1.36 gear in the drive and a huge prop because the TQ would push it. Now you have a boat that's capable of 80 + speeds but has less than 500 HP. Point is as long as your not going over 100 mph I really don't think you have to be so exact on your HP figures on your boat, They are focusing on your top speed and HP #'s are a generic way to gudge that, give them a high estimate HP # and your setting off red flags and $$$$$$$$$$$ that may be for no reason. I'm done, no more out of me.

cdog
02-12-2005, 05:59 PM
Dude, as soon as you add a blower you have to go with hi-performance insurance...I don't like paying 3x the amount to insure my boat, but piece of mind is worth it.
I had a 540 built, just not using it at the moment...wanna buy it?
I did my own and am still working out the EFI bugs to get it just right. It has about the same HP as a HP 500 but is a tall deck 540 with alum heads and all the goodies. I guess my boat should do 71 MPH with the HP 500 so that's what this will/ should do when it's tune'd in right. So far i've got 66 MPH. It's all set to strap on a M4SC Procharger and BAM! We'll se what happens then. I was just over at a boat shop today and was talking to a guy about a set of 575's in his boat hand his insurance is like 2200 a year. The insurance co just does'nt want it to go over 100mph. Good luck to you GG i'm sure you'll do the right thing, just don't get taken by those insurance guy's. See you at the river.

SoCalOffshore
02-12-2005, 10:06 PM
Progressive turned me down with Mercury 525's. I am with Total Dollar Insurance.

shockwavebd
02-12-2005, 10:22 PM
Call Sy GOldberg with total Dollar insurance.. 845-356-7251
He got my new 34 Shockwave with 525's insured for $2700 per year, no layup and offshore coverage through ACE insurance. He said it doesn't matter if the boat has blowers or not as long as the top speed is below 100.. For 100 MPH and up he has another program that is more expensive..
Got the same quote more HP no lay ups. But you have to go with the right agent.........sy is the man he saved me $1000.00

Whipped Caliber
02-14-2005, 09:44 AM
Call Sy GOldberg with total Dollar insurance.. 845-356-7251
He got my new 34 Shockwave with 525's insured for $2700 per year, no layup and offshore coverage through ACE insurance. He said it doesn't matter if the boat has blowers or not as long as the top speed is below 100.. For 100 MPH and up he has another program that is more expensive..
Thanks Steamin'Rice just saved $1000.00 on my Ins. Nice guy too and better coverage as well!!! :jawdrop: