insurance sucks!

[Essex29]

What would you guys do?
I am planning on building a new boat toward the end of the year and I just got a quote on insurance :eek: :mad: :(
For a 29' Cobra Viper with 600hp they want 3700.00 per year through Markel with a 4 month lay up...WTF? I have zero tickets and accidents!
This is bs! I can't lie and tell them it's only 500 hp, that's just plain stupid!
What a frickin downer man :(
I am going to get another quote through ACE. Do any other companies insure 500+ hp except the one out of Canada?
Now I really want to know how the big ballers do it!
Someone please give me some help!

[Kilrtoy]

That is why they are called BIG BALLERS
as i was told, you want to play with the big boys , its gonna cost ya.....
but that does sound high for that boat

[MRS FLYIN VEE]

try Devin Ins. :) 1-714) 263-2626

[whiteworks]

just another cost to the boating season at least you didnt wait till you got the boat to find out about the bonus round. ditch christmas and take the family to the river that should offset the cost. ten bucks a day pack a lunch.

[Essex29]

That is why they are called BIG BALLERS
as i was told, you want to play with the big boys , its gonna cost ya.....
but that does sound high for that boat
That's what I thought!
Anyone have a 28-29 foot cat with under 500hp? What do you pay for insurance?

[Essex29]

try Devin Ins. :) 1-714) 263-2626
I'll try him!

[whiteworks]

markel is a good company$$$$

[bunny 166]

That's what I thought!
Anyone have a 28-29 foot cat with under 500hp? What do you pay for insurance?
We have a 1996 Conquest with 490 HP (Merc 525SC). It's still considered a deckboat and not a cat, so we have a very good policy for about 1k a year, no lay up....
Have you considered a Conquest? We really enjoy ours...

[KLEPTOW]

That's what I thought!
Anyone have a 28-29 foot cat with under 500hp? What do you pay for insurance?
I have a 05 Deck with a HP500 and XR drive ins is 650 a year, That includes replacement cost option that will pay for any and all repaires.

[shadow]

That's what I thought!
Anyone have a 28-29 foot cat with under 500hp? What do you pay for insurance?
27' Ultra Shadow with 496HO,just got our renewal yesterday for $735.00 a yr.
Try calling Farmers.

[Starloans]

According to most ins co. I spoke to last year, once you go over 500HP AT THE PROP and/or 70mph, you can stand by for big bucks. It seems the type of boat will make some difference but not like HP and speed.
I have American Marine ins in Ojai, Ca. They set me up with Progressive. Just got the renewal $1525, full year, HP 525, DCB 28 Extreme, 80 mph. Although the 525 is rated 525 at the crank, they assured me the 500 prop hp was ok for the insurance.
I know some people don't like Progressive but there are not many options. ACE and Markel were quoting $2,700 with a lay up. Not to offend people in the insurance industry on the boards here but I think ins cos. are a racket anyway. Necessary evil.
NOTE: Don't lie to the insurance co. Tell them EXACTLY what you have. If you have a claim and they research and find out you modified you engine, go faster, etc, than when you got the policy, you COULD be up shit creek.
American Marine can be reached at 800-283-5646. Good luck.

[voodoomedman]

If you go with Progressive then go directly with them by calling or off their website it is much cheaper. They don't have to pay the broker.
According to most ins co. I spoke to last year, once you go over 500HP AT THE PROP and/or 70mph, you can stand by for big bucks. It seems the type of boat will make some difference but not like HP and speed.
I have American Marine ins in Ojai, Ca. They set me up with Progressive. Just got the renewal $1525, full year, HP 525, DCB 28 Extreme, 80 mph. Although the 525 is rated 525 at the crank, they assured me the 500 prop hp was ok for the insurance.
I know some people don't like Progressive but there are not many options. ACE and Markel were quoting $2,700 with a lay up. Not to offend people in the insurance industry on the boards here but I think ins cos. are a racket anyway. Necessary evil.
NOTE: Don't lie to the insurance co. Tell them EXACTLY what you have. If you have a claim and they research and find out you modified you engine, go faster, etc, than when you got the policy, you COULD be up shit creek.
American Marine can be reached at 800-283-5646. Good luck.

[LHC30Victory]

How come Blane is quiet on this thread?????? :idea:

[dicudmore]

How come Blane is quiet on this thread?????? :idea:
because he's at Lake Powell :wink:

[Starloans]

Thanks. I'll check it out.
If you go with Progressive then go directly with them by calling or off their website it is much cheaper. They don't have to pay the broker.

[laveydayz]

That is why they are called BIG BALLERS
as i was told, you want to play with the big boys , its gonna cost ya.....
but that does sound high for that boat
Kilr....Just curious how you come out on insurance with twin outboards??

[voodoomedman]

Kilr....Just curious how you come out on insurance with twin outboards??
WeedWackers are covered under homeowners insurance. :jawdrop:

[dicudmore]

WeedWackers are covered under homeowners insurance. :jawdrop:
http://www.lasvegas***boats.com/iB_html/non-cgi/emoticons/rollinglaugh.gif http://www.lasvegas***boats.com/iB_html/non-cgi/emoticons/rollinglaugh.gif http://www.lasvegas***boats.com/iB_html/non-cgi/emoticons/rollinglaugh.gif

[bear down]

We pay about $1100 per year on our insurance through progressive. 26' Eliminator Eagle with a 496 HO. Full replacement and highest coverage on everything and with a 1k deductible. I thought it was expensive as well but was the cheapest we could find. I have no tickets or accidents and am 30 yrs old. Go Figure :cry: :cry:

[Magic34]

try Devin Ins. :) 1-714) 263-2626
I use Devin and he does a good job for us.
However, here is the problem with that. Once Markel gives you a quote through another agent, they will not quote you again for 1 year. ACE/Sea Safe has been higher in every quote that I have gotten the past 2.5 years. They were much higher than Markel.
The only hope I think you might have is to call Devin and see if his Farmer's package can get it done for you. It may take switching everything (home, autos) over to him (Farmers).
It does seem really high, but rates have gone up it seems every month. I would have expected around $2500 for your boat.
Good luck!

[Havasu_Dreamin]

We have a 1996 Conquest with 490 HP (Merc 525SC). It's still considered a deckboat and not a cat, so we have a very good policy for about 1k a year, no lay up....
Have you considered a Conquest? We really enjoy ours...
The 525 SC has only 490 HP?
We've got a 29 deep V with the 525 and pay ~$800 per year with a million dollar policy and $1k deductible.

[mbrown2]

Air Entrapment hull = Big Insurance..... Heck, you are getting off easy....get a real cat with the same motor and no layup starts around 5K.

[riverroyal]

i bought a deckboat with a 496HO,it was less insurance.

[JB in so cal]

27' Ultra Shadow with 496HO,just got our renewal yesterday for $735.00 a yr.
Try calling Farmers.
Uuuuhhhhhh huh! Sure it is. :D :cool:

[HocusPocus]

If you go with Progressive then go directly with them by calling or off their website it is much cheaper. They don't have to pay the broker.
what he said... you will get better rates going direct, then you would thru a broker.
i have progressive and never had a problem with them. :)

[BCAdvantage]

Try State Farm in Havasu. Had two boats through them and they have always been the cheapest with full coverage. (928) 854-6693.

[Big Warlock]

You have two simple problems:
:D
1) You have "cat" in the description of your boat.
2) You have over 500 ponies in it.
Other than that your good!!
:D

[bunny 166]

[QUOTE=Havasu_Dreamin]The 525 SC has only 490 HP?
:) Merc made a stock blower motor in '96....it has 490 Hp, putting us right at that limit....
We all would love to go faster, but the insurance is really through the roof when you pass the 500 mark. :hammer2:
Like someone else said, be honest with your insurance company, otherwise it's like you're uninsured anyway....No claim will be covered if you lie regarding horsepower.... :hammerhea

[Havasu_Dreamin]

:) Merc made a stock blower motor in '96....it has 490 Hp, putting us right at that limit....
We all would love to go faster, but the insurance is really through the roof when you pass the 500 mark. :hammer2:
Like someone else said, be honest with your insurance company, otherwise it's like you're uninsured anyway....No claim will be covered if you lie regarding horsepower.... :hammerhea
Good deal, just thought it would have more ponies than that. I agree about honesty with insurance carriers.

[Speedin' Ian]

Looking into buying a Cat, but I am really dreading the insurance quote. It seems like 500hp is the magic mark, but I am looking at a 28' Daytona with twin HP500's, I guess that means I am screwed. There is no way I can justify an insurance payment as large as a car payment!
Out of curriousity, how many have done the math and figured out how much you are paying per hour to run your boat?

[6 Dollar Boat]

If you go with Progressive then go directly with them by calling or off their website it is much cheaper. They don't have to pay the broker.
I don't think Progressive will insure a cat, and with 600 hp you will probably be stuck with Markel.
BTW, 3700 sounds great to me... :frown:

[Dave C]

it means off-season when the boat is not used.
NO, its not when your afraid to get the big stick out and go for the hole ;) :D
What does the term "layup" refer to? I'm not familiar with the insurance industry terms.

[BoatPI]

Star Loans is 100% ion the mark. And ANY material misrepresentation on the application is grounds for denial of ANY claim! It occurred in a claim I worked a few months back, and it was serious MONEY.