Cat insurance...WTF

[GAME TIME]

So, I've been calling around trying to get quotes for a new cat and Markel is the only company insuring these boats in the country. A few guys said that about a month ago, there were two or three companies insuring them. Does the insurance industry go through this often? Damn, it seems pretty high to spend $7,500 on a cat with 496HO's.

[Daytona100]

Better keep the DOMIN8ER!!!!!

[DAVID]

So, I've been calling around trying to get quotes for a new cat and Markel is the only company insuring these boats in the country. A few guys said that about a month ago, there were two or three companies insuring them. Does the insurance industry go through this often? Damn, it seems pretty high to spend $7,500 on a cat with 496HO's.
I just got a quote today for a customer. 28 Daytona 496 HO's. $6200
thru Markel. Thats where everyone is sending us.

[FASTERDAMITT]

A few people could'nt believe I sold my cat and bought a V. Well, insurance was a factor. Cabin space and offshore performance was also. But I searched hard and found a 30' V that has performance similar to 30' cats and equal or better offshore capabilities. Still don't understand insurance companies and thier premium against cats. I don't think the underwritters have ridden in one. Keep us posted on what you discover.

[Kilrtoy]

F4rom my understanding, They are the only game in town...
What kinda boat is fetching that kind of price for twin 496's......

[framer1]

I'm hoping I still pay 4,800 next year. Sounds like they are raising the price again. Oh goodie :yuk: Anybody want to buy a f-26 :notam:

[riverroyal]

for a F26!!!!and to think you dcb guys make fun of us magic deckboat guys,sshheeshh.By the way,I pay 750$ a year,and go about 40mph slower :smile:

[GAME TIME]

Better keep the DOMIN8ER!!!!!
It's already sold... :D

[GAME TIME]

F4rom my understanding, They are the only game in town...
What kinda boat is fetching that kind of price for twin 496's......
I was quoted on the Daytona 28 with no layup and 3% deductible to get $7500. It went down with a 5% deductible and a layup from 11/1-3/1 to $6300. Still too rich for my blood.

[GMFL]

I just got insurance a few weeks ago and ended up going with Markel too. However, if I remember correctly, they were also quoting with another carrier (can't remember the name though).
My broker was Empower Solutions in Wesminster (714) 895-7050.
Maybe they can help. However, my rate's not that great either.
Sorry for not being any help :hammerhea

[shadow]

for a F26!!!!and to think you dcb guys make fun of us sshheeshh.By the way,I pay 750$ a year,and go about 40mph slower :smile:
Yep! :wink: $735.00

[Goodtime$]

That sounds a lot for a twin 8.1L combo..wow
If you decide to do a single HO tunnel, insurance can be found easy for under 1k.
700hp on our boats, we are looking at 3k a year.
best of luck.

[ACCEPTENCE]

So whats the deal???
Tunnel style deck boats are cheaper to insure???
Are these not considered cats???
Am I missing something here???
Yep, I'm a little confussed :squiggle:

[Kilrtoy]

So whats the deal???
Tunnel style deck boats are cheaper to insure???
Are these not considered cats???
Am I missing something here???
Yep, I'm a little confussed :squiggle:
Its all about HP......

[FASTERDAMITT]

Its all about HP......
Yes it is...
HP = HORSE POWER
HP= HIGH PERFORMANCE
HP= HIGH POLICY !!!!!!!!!!!!!!!!!!!!!!!! :jawdrop:

[boxscore]

I'm hoping I still pay 4,800 next year. Sounds like they are raising the price again. Oh goodie :yuk: Anybody want to buy a f-26 :notam:
How about selling the 800 and bolting in a 377 lil blocker? :hammerhea

[framer1]

Yep! :wink: $735.00
Show off :D

[framer1]

How about selling the 800 and bolting in a 377 lil blocker? :hammerhea
Let me give that some thought and I will get back to you :cool:

[shadow]

Show off :D
With no lay up! :rollside:

[missboatnam1]

So whats the deal???
Tunnel style deck boats are cheaper to insure???
Are these not considered cats???
Am I missing something here???
Yep, I'm a little confussed :squiggle:
yep, the decks are half the price as of right now, but, i think the insurance compaines are catching on to us :idea:

[framer1]

With no lay up! :rollside:
I only have 6 months lay up for that great price :yuk: Right now my lay up is nov. thru April I'm wondering if I can get a better deal by having my lay up May thru Oct. :rolleyes: Maybe even Jan thru Dec. :D

[Burley1]

Not that it will make anyone feel better, but I pay $710.00 a year for my 26' Stoker with twin wakkers and thats full coverage and no lay up. :D

[02HoWaRd26]

Thats outta control I am paying 800 a year with oct-march outta the water according to the ins. its still covered in the storage at that time though

[riverroyal]

So whats the deal???
Tunnel style deck boats are cheaper to insure???
Are these not considered cats???
Am I missing something here???
Yep, I'm a little confussed :squiggle:
the deck makes it less,family boat,not performance.Also staying under 500 CU ,496 was cheap,525 went through the roof.The best thing is getting the 496HO with a good drive and steering then building the 496,if you need the speed,its a deck boat,I believe 70mph is plenty.But its only a matter of time,and insurance companies will raise the rates,deck boats are selling great,they are missing out on some spendy premiums.

[Blacksheep]

Yep! :wink: $735.00
I'm about the same as Shadow...05 27 Shadow w/ Ilmor 550....$900/yr with Allstate

[Pro Max]

2006 Magic Deck
496 HO
no lay up
$635.00 year
State Farm In Havasu

[Washed Ashore]

I know this question has been beaten to death,Markel said not a chance,and has no sugestions!!I am waiting on calls from Loyds of London and Ogilvy & Ogilvy from Canada?Does any one have any leads??????????????????
Jeff

[Magic34]

The companies outside the US are a huge gamble.
Markel and ACE (Sea Safe) are the only 2 tickets in town. They are both out of control on pricing.
I am working on a few things for insurance, but have no idea if they are going to work.
I am going to try and get a dealers license and put everything under that. Operate it like a biz, and sell 2-3 things a year through it. Since I normally sell 1-2 of my personal vehicles/toys a year anyways, I figure buy a $1000 car and sell it for $1100 to look like a legit biz. It is far fetched, but I am going to try. I don't think that this could be $7k/year.

[79 HUSTLER]

The companies outside the US are a huge gamble.
Markel and ACE (Sea Safe) are the only 2 tickets in town. They are both out of control on pricing.
I am working on a few things for insurance, but have no idea if they are going to work.
I am going to try and get a dealers license and put everything under that. Operate it like a biz, and sell 2-3 things a year through it. Since I normally sell 1-2 of my personal vehicles/toys a year anyways, I figure buy a $1000 car and sell it for $1100 to look like a legit biz. It is far fetched, but I am going to try. I don't think that this could be $7k/year.
There is a few peeps on here that do it like that and it seems to work great for them. They are also covered with their ins. on others boats.

[BADBLOWN572]

The companies outside the US are a huge gamble.
Markel and ACE (Sea Safe) are the only 2 tickets in town. They are both out of control on pricing.
I am working on a few things for insurance, but have no idea if they are going to work.
I am going to try and get a dealers license and put everything under that. Operate it like a biz, and sell 2-3 things a year through it. Since I normally sell 1-2 of my personal vehicles/toys a year anyways, I figure buy a $1000 car and sell it for $1100 to look like a legit biz. It is far fetched, but I am going to try. I don't think that this could be $7k/year.
I am doing that right now legitimately through our wooden boat company. It is a pain in the ass to setup, but it works if you do. The only problem is that occasionally the insurance adjuster will "stop by" your shop and inspect your business liscense, working conditions, inventory, etc... We set it up as a service company in the past and it was $2200 a year for anyone on the company payroll, or owners, and that was for $1,000,000/$2,000,000 coverage and full replacement value. I was covered on anything from a Bayliner to a full on offshore race boat.
Where it gets tricky is the technicalities. You are only allowed to use the boat for "business purposes." There are ways around it, but it is a headache.
Can it be done, absolutely. Is it worth it, not in every situation. By the time you get done with your $$$ for the corporation, $$$ attorneys fees, $$$ accountants fees, $$$ taxes, $$$ business liscenses, etc... a lot of the time it is not financially worth it. I did it because I could not get insurance on my boat what so ever. Not even Markel would touch it with a young driver and a 25' boat with 1k h.p. :(

[FREIND OF AA AND TA]

I was so lucky to get grandfatherd in at Allstate. I am paying 690 a year and would definatly sell it for sure if I lost it. I would buy another v and say f-it!! You guys are soooo screwed. Is the cat thing gonna be a thing of the past if this does not get resolved.

[prosthogod]

First I want to state I am not siding with the insurance companies. I am simply looking at numbers. I have a cat and pay~750/ yr, for full replacement valued at 80K.
I have a dodge Viper valued at 80K and the insurance cost is 1900/yr(thats not right)
If you big ballers with a boat that is valued at 225K+, your insurance should be high. Big HP means danger and just like my Viper and unfortunatly it costs more.
HP=speed=possible increased danger=high insurance rates.
Just myworthless .02

[DCBDaytona]

First I want to state I am not siding with the insurance companies. I am simply looking at numbers. I have a cat and pay~750/ yr, for full replacement valued at 80K.
I have a dodge Viper valued at 80K and the insurance cost is 1900/yr(thats not right)
If you big ballers with a boat that is valued at 225K+, your insurance should be high. Big HP means danger and just like my Viper and unfortunatly it costs more.
HP=speed=possible increased danger=high insurance rates.
Just myworthless .02
Very well put! I've pondered this situation many times and have come to this conclusion...There is an extreme difference between the types of people buying expensive boats and those that buy expensive cars. If you buy a $200k Lambo, you must truly have "big bucks" and the $3000 ins. premium is no big deal. This is because you can only finance over 72 months at the most. With boats, you don't have to be making big bucks to buy a $200k boat. You can finance up to something like 20 years now??? And it seems like this is a popular choice, because if people were making the money to pay cash or finance over 60 months or so, they would not be angry with the ins premiums because they'd be able to afford them...Just my $.02
Also, this is something else I've noticed...If all these people are buying $200k+ boats, why aren't there more Ferraris and Lambos on the road? Financing works miracles!

[BoatFloating]

First I want to state I am not siding with the insurance companies. I am simply looking at numbers. I have a cat and pay~750/ yr, for full replacement valued at 80K.
I have a dodge Viper valued at 80K and the insurance cost is 1900/yr(thats not right)
If you big ballers with a boat that is valued at 225K+, your insurance should be high. Big HP means danger and just like my Viper and unfortunatly it costs more.
HP=speed=possible increased danger=high insurance rates.
Just myworthless .02
Wait to you see what it cost to insure that golf cart of your.... :220v:

[KROOZIN]

Very well put! I've pondered this situation many times and have come to this conclusion...There is an extreme difference between the types of people buying expensive boats and those that buy expensive cars. If you buy a $200k Lambo, you must truly have "big bucks" and the $3000 ins. premium is no big deal. This is because you can only finance over 72 months at the most. With boats, you don't have to be making big bucks to buy a $200k boat. You can finance up to something like 20 years now??? And it seems like this is a popular choice, because if people were making the money to pay cash or finance over 60 months or so, they would not be angry with the ins premiums because they'd be able to afford them...Just my $.02
Also, this is something else I've noticed...If all these people are buying $200k+ boats, why aren't there more Ferraris and Lambos on the road? Financing works miracles!
Why would you want a Lambo? To sit in bumper to bumper? What's the point of having the car if ya can't use it? Sheit, 1million people moved into LA county in the last 3 years! I'll enjoy my freedom on the lake anyday!!!
:D

[XTRM22]

Yep! :wink: $735.00
Now I thik I'm gettin hosed, 9 year old DCB Vee , and I'm paying 525.00 for a year. WIth a blistering 65mph top speed. :cry:
Chuck

[DCBDaytona]

Why would you want a Lambo? To sit in bumper to bumper? What's the point of having the car if ya can't use it? Sheit, 1million people moved into LA county in the last 3 years! I'll enjoy my freedom on the lake anyday!!!
:D
Kroozin- Why'd ya edit your post? HaHa you can keep it a secret between you and me.

[KROOZIN]

Kroozin- Why'd ya edit your post? HaHa you can keep it a secret between you and me.
I've learned it's just easier to keep my mouth shut :D

[DCBDaytona]

I've learned it's just easier to keep my mouth shut :D
I hear ya. Given your situation that's the best thing to do. It's a familiar philosophy I've grown up learning :D

[DCBDaytona]

I'm with Allstate as well. $550/year.

[Beer-30]

$830 / year. No layup, maxxed out all the values for medical and such. $100 deductable.

[KROOZIN]

I'm with Allstate as well. $550/year.
I've heard they don't write boat policies anymore. That being the case, don't ever give up your policy. Mine sat at $50 a year for 2 years while my boat was being built.

[Big Kahunaa]

Very well put! I've pondered this situation many times and have come to this conclusion...There is an extreme difference between the types of people buying expensive boats and those that buy expensive cars. If you buy a $200k Lambo, you must truly have "big bucks" and the $3000 ins. premium is no big deal. This is because you can only finance over 72 months at the most. With boats, you don't have to be making big bucks to buy a $200k boat. You can finance up to something like 20 years now??? And it seems like this is a popular choice, because if people were making the money to pay cash or finance over 60 months or so, they would not be angry with the ins premiums because they'd be able to afford them...Just my $.02
Also, this is something else I've noticed...If all these people are buying $200k+ boats, why aren't there more Ferraris and Lambos on the road? Financing works miracles!
That's what i have been thinking and the cars will be worth more in 10 or 20 years too

[BoatFloating]

I've heard they don't write boat policies anymore. That being the case, don't ever give up your policy. Mine sat at $50 a year for 2 years while my boat was being built.
The problem with Allstate is if you make a claim you're canceled. I'm speaking from experiance :mad: It was years ago and my boat got broken into to the tune of $5K so I filed a claim and then they didn't renew me. :idea:

[Ivan Dan]

I did it because I could not get insurance on my boat what so ever. Not even Markel would touch it with a young driver and a 25' boat with 1k h.p. :(
Out of curiousity how would anyone else get insurance on this thing?

[Hardly Satisfied]

buy a bayliner

[BADBLOWN572]

Out of curiousity how would anyone else get insurance on this thing?
It is possible to do. The main reason why I could not get insurance was because of my age. No one would insure me at 24 years old in a 25' boat with 1k h.p. :( I know of several Carrera's with right at 1k h.p. that are insured through Markel. The other option would be to take out the boost on the blower and get it down to around 800. There are a ton of boats out there that have Teague & Pfaff 800's that are fully insured.

[DCBDaytona]

The problem with Allstate is if you make a claim you're canceled. I'm speaking from experiance :mad: It was years ago and my boat got broken into to the tune of $5K so I filed a claim and then they didn't renew me. :idea:
I think this is a given with most boat insurance companies. I only plan to make a claim if it is stolen or sunk.

[Magic34]

It is possible to do. The main reason why I could not get insurance was because of my age. No one would insure me at 24 years old in a 25' boat with 1k h.p. :( I know of several Carrera's with right at 1k h.p. that are insured through Markel. The other option would be to take out the boost on the blower and get it down to around 800. There are a ton of boats out there that have Teague & Pfaff 800's that are fully insured.
That is what my problem was with Markel with the age. I'm 26 and I don't have a boat that goes over 100 MPH. I dont drink and operate (which they wouldn't know, but I dont so it), I dont have any tickets or accidents, no insurance claims ever in the 20+ different vehicles that I have owned (including boats, toyhaulers, quads, autos) and no claims on my houses either.
My record is as squeeky clean as they come including a good credit score.
So my new policy came in October 2005 and the liability insurance for me more than doubled, actually 2.5 times what it was the previous year. This is with an 85 MPH boat (it does just a little more than that... 90, but it was a fair speed for insurance.)
I went from $3900 to $5000 to $6200 in 1 year (new boat, just additional value). Both boats were the same make and model and power (1 was a 2004, sold it, bought another 34 Magic and it is a 2005), I just valued the new one at more $$, shouldn't effect liability. I was told the rates more than doubled for those under 35 years old, but it was way more than double for liability, when I have never been a risk to an insurance company that has done buisness with me. Zero claims, just didn't make any sense.
Insurance makes boating not worth it for $5k+/year.

[BADBLOWN572]

That is what my problem was with Markel with the age. I'm 26 and I don't have a boat that goes over 100 MPH. I dont drink and operate (which they wouldn't know, but I dont so it), I dont have any tickets or accidents, no insurance claims ever in the 20+ different vehicles that I have owned (including boats, toyhaulers, quads, autos) and no claims on my houses either.
My record is as squeeky clean as they come including a good credit score.
So my new policy came in October 2005 and the liability insurance for me more than doubled, actually 2.5 times what it was the previous year. This is with an 85 MPH boat (it does just a little more than that... 90, but it was a fair speed for insurance.)
I went from $3900 to $5000 to $6200 in 1 year (new boat, just additional value). Both boats were the same make and model and power (1 was a 2004, sold it, bought another 34 Magic and it is a 2005), I just valued the new one at more $$, shouldn't effect liability. I was told the rates more than doubled for those under 35 years old, but it was way more than double for liability, when I have never been a risk to an insurance company that has done buisness with me. Zero claims, just didn't make any sense.
Insurance makes boating not worth it for $5k+/year.
That is exactly my situation. No claims on any vehicles, house, etc... I would rather pay any damages out of my own pocket versus loose the insurance or raise the rates. Don't drink on the water at all when operating a boat and probably have at least 1k hours operating boats. None of that matters when they see the age thing. :(
What you are looking at doing with the company is viable, but if it is not 100% legitimate business they will look at any potential claims and say it was a fraudulent policy if there is a claim. They will refund your money and say good bye. At that point in time, you will be liable for any and all damages. You could go after the insurance company, but that takes a lot of time and money. It is a gamble. Setup correctly you would be fine, but if you stumble and make a mistake, it jeopardizes everything you have. The other side WILL come after you personally. :(

[Washed Ashore]

[Financing works miracles![/QUOTE]
Well, I own the boat outright.The problem is HP to wieght ratio,and replacement cost.I have a possible maybe at $12,000 a year :mad: The real problem is being self employed,I have to much to lose by not covering my ass.
Jeff

[RIPPINGNOLEGSKROKER]

Everyone quotes all these numbers but it means little without knowing coverages, deductible, layup, agreed value, where is it used and stored. Many variables to coverages including people lying through their teeth. How do you bump your liability to fall under a minimum requierment for an umbrella? It sucks to have to shop for insurance before you buy a boat and having it a deciding factor on the purchase.

[andy01]

I am looking at my renewal right now, and let me just say IT BLOWS!! It went up about 15% for no reason. Well other then I have another year of boating under belt, no tickets nothing! Just a increase. I hate to say it but I think this may be my last cat. I love this boat but at this rate I may as well find a more expensive toy to buy with cheap opperating cost.
Andy

[andy01]

Well, I own the boat outright.The problem is HP to wieght ratio,and replacement cost.I have a possible maybe at $12,000 a year :mad: The real problem is being self employed,I have to much to lose by not covering my ass.
Jeff
What boat do you own?

[24skaterVA]

Have you tried International Water Safety Foundation, Thas who everybody w/ cats is going to now.
Rashid
1-888-346-4673

[UnionJack]

what about an insurance bond?

[Magic34]

I am looking at my renewal right now, and let me just say IT BLOWS!! It went up about 15% for no reason. Well other then I have another year of boating under belt, no tickets nothing! Just a increase. I hate to say it but I think this may be my last cat. I love this boat but at this rate I may as well find a more expensive toy to buy with cheap opperating cost.
Andy
I know. I was making fun of WetWillie for having a $30k Rhino, but I think he is the one laughing now. I think he made a good call.

[WetWillie]

$30k? Who you fouling?
I know. I was making fun of WetWillie for having a $30k Rhino, but I think he is the one laughing now. I think he made a good call.

[Magic34]

$30k? Who you fouling?
Think I'm fooling???? Your at what.... A little over $30k now. Now mind you, this is all before sending your rusty cage to powdercoat and paint and all the other bling out stuff. But for some raw parts welded together and $8000 shocks, you should be around $30k or so right now. Figure you have another $12-$15k to go yet. :crossx: :rollside:

[Washed Ashore]

Have you tried International Water Safety Foundation, Thas who everybody w/ cats is going to now.
Rashid
1-888-346-4673
I called this morning and they said they wont cover any thing over $ :100,000 :cry: I am waiting for loyds of london,I talked to them yesterday,He said give him a couple days.It didn't sound to promising
Jeff

[Washed Ashore]

What boat do you own?
F 26,huge power,full custom like no other!!
Jeff

[UnionJack]

F 26,huge power,full custom like no other!!
Jeff
Really? What does a full custom like no other, look like from Dave's Custom Boats.... :cool:

[Washed Ashore]

Really? What does a full custom like no other, look like from Dave's Custom Boats.... :cool:
Lets just say the hull came from DCB!!
Jeff

[MR HARLEY]

Lets just say the hull came from DCB!!
Jeff
Pics ?? :)

[andy01]

Im chaning companies, this might be worth a call to you guys.
888-346-4673 ask for Steve.
Andy

[UnionJack]

Im chaning companies, this might be worth a call to you guys.
888-346-4673 ask for Steve.
Andy
Who does steve use?

[andy01]

Who does steve use?
International water safty. I am under insuring my boat's value but they will right cats and WRITE my speed on the policy. It is more then half my ace policy. I went to them direct so I could ask them DO YOU WRITE CATS, he said yes. But they don't cover over 100K. 500000 liabilty 2K deductable and I don't feel like I am getting phucked now. Everything sounds and looks right other then the value. I can live with that. The boat sits in my backyard behind my toterhome. If somebody wants it that bad then they will have to get it on the water.
Andy

[andy01]

F 26,huge power,full custom like no other!!
Jeff
Oh yeah you bought TFB motorsports old boat? Or am I wrong?

[UnionJack]

TFB Motorsports.... hmmmmm

[UnionJack]

I heard that boat went to Texas?

[andy01]

I heard that boat went to Texas?
Well what boat is it then? Isn't it some board members old boat? Or am I just out there this morning?

[bigq]

I was quoted on the Daytona 28 with no layup and 3% deductible to get $7500. It went down with a 5% deductible and a layup from 11/1-3/1 to $6300. Still too rich for my blood.
You buy a 28 Daytona with twins and you can't afford $6300 for insurance?
:rolleyes:

[DCBob]

Well what boat is it then? Isn't it some board members old boat? Or am I just out there this morning?
Naah, Jeff's boat isn't some board members old boat :rolleyes: It's a one of a kind. I think it's making it's debut this Spring. Jeff is being modest, you will not see another one like this anytime soon. Go Jeff, can't wait to see that thing wash ashore :D

[andy01]

Naah, Jeff's boat isn't some board members old boat :rolleyes: It's a one of a kind. I think it's making it's debut this Spring. Jeff is being modest, you will not see another one like this anytime soon. Go Jeff, can't wait to see that thing wash ashore :D
Okay my bad.

[UnionJack]

my also bad, Hey andy do you think I can insure my trailer for 100k also and then the boat for 100k?

[Boatmaster]

F 26,huge power,full custom like no other!!
Jeff
I hate to say it being one of DCB's biggest cheerleaders, but I have seen Jeff's boat and it makes most DCB's look like a Bayliner! NO JOKE.

[UnionJack]

Thats bold

[Kilrtoy]

I hate to say it being one of DCB's biggest cheerleaders, but I have seen Jeff's boat and it makes most DCB's look like a Bayliner! NO JOKE.
Now we have to see pics.........

[Boatmaster]

Now we have to see pics.........
I'm not going to be the one to let them leak. Jeff has and should have alot of pride and time in this boat and he would be the only one that could post pics. They will be worth the wait!!! Jeff if you are out there keep in mind as soon as your boat goes to DCB for its final rig some fool will be posting like mad. :mad:

[UnionJack]

oh ya

[Washed Ashore]

I hate to say it being one of DCB's biggest cheerleaders, but I have seen Jeff's boat and it makes most DCB's look like a Bayliner! NO JOKE.
Thanks Drew,It has been a long project.I sometimes wonder if its worth it,now more than ever,insurance companys suck!!
Jeff

[andy01]

my also bad, Hey andy do you think I can insure my trailer for 100k also and then the boat for 100k?
Nice thought (tried something similar) 100K total, combined.
Andy

[UnionJack]

We should start our own company

[andy01]

We should start our own company
Yes, pull in a bunch of investers right very strict policys and be done! I wish you could just get a bond for 30K with the state like you used to on cars and you were covered. I would do that, then when nothing happens you get your money back.

[UnionJack]

We should do it

[Ivan Dan]

We should do it
I'm in....sounds like a great business deal to me.

[acatitude]

I'm in....sounds like a great business deal to me.
im in do owners of the company get a discount??????????? :crossx:

[diggler]

International water safty. I am under insuring my boat's value but they will right cats and WRITE my speed on the policy. It is more then half my ace policy. I went to them direct so I could ask them DO YOU WRITE CATS, he said yes. But they don't cover over 100K. 500000 liabilty 2K deductable and I don't feel like I am getting phucked now. Everything sounds and looks right other then the value. I can live with that. The boat sits in my backyard behind my toterhome. If somebody wants it that bad then they will have to get it on the water.
Andy
IWSF - International Water Safety Foundation is a Panamanian company with offices in Canada. They also operate under the name of North American Marine General Insurance Company. They have cease and desist orders in Texas, Pennsylvania, Florida, Louisiana, and a few other states. Based on the California Dept. of Insurance, they are not in good standing in this state.
How do I know this?..... Well, i almost went with them before another HBFM tipped me off and I did some research to validate that they are not a good choice. Look closely, and make sure you don't get screwed. God help anyone that has to actually make a claim!

[andy01]

IWSF - International Water Safety Foundation is a Panamanian company with offices in Canada. They also operate under the name of North American Marine General Insurance Company. They have cease and desist orders in Texas, Pennsylvania, Florida, Louisiana, and a few other states. Based on the California Dept. of Insurance, they are not in good standing in this state.
How do I know this?..... Well, i almost went with them before another HBFM tipped me off and I did some research to validate that they are not a good choice. Look closely, and make sure you don't get screwed. God help anyone that has to actually make a claim!
Thank you very much. I was reconsidering and now I am getting ready to right a check to skisafe again.
Thanks to those of you that did the homework prier and informed us of the qauilty of the company. Thank you for the help!
Thank you for the link earlier Kilr.
Andy

[cougarcat]

We have Ski-Safe as well. Just found out today thru our agent that Ski-Safe no longer writes performance boat insurance. Our agent doesn't think it's a problem as long as we keep our policy in-force with them (claim free ......... I'm sure), but they will not write any new policies. Who's left? Markel? Ouch!
CC

[diggler]

I use Cornerstone Insurance Agency. They were the only one's that would do it for me.

[Kilrtoy]

SKI SAFE ARE THEY A cANADIAN COMPANY OR AMERICAN....

[Phat Matt]

SKI SAFE ARE THEY A cANADIAN COMPANY OR AMERICAN....
Ski Safe won't touch me, so they won't touch you. :)

[Phat Matt]

We have Ski-Safe as well. Just found out today thru our agent that Ski-Safe no longer writes performance boat insurance. Our agent doesn't think it's a problem as long as we keep our policy in-force with them (claim free ......... I'm sure), but they will not write any new policies. Who's left? Markel? Ouch!
CC
I like how the top of the page says this.
Boat Insurance Call us for information about our program for Performance boats.
1-800-225-6560
Get an online quote for your boat!

[cougarcat]

SKI SAFE ARE THEY A cANADIAN COMPANY OR AMERICAN....
Kilr--They are American, based out of Lake Success, NY. The company writes using Ski-Safe, Sea-Safe and Axis names. Fingers crossed on the renewal.
CC

[cougarcat]

I like how the top of the page says this.
Boat Insurance Call us for information about our program for Performance boats.
1-800-225-6560
Get an online quote for your boat!
Yeah, I saw that also. I guess my agent probably misused the term "performance". One man's idea of performance could differ greatly from another's. She must have meant no more 100+ mph cats. Although they wouldn't touch my friend on his 31' Profile with twin 575's.........length/hp calc. that they use.
What a racket....
CC

[mbrown2]

Although they wouldn't touch my friend on his 31' Profile CC
Your buddy is not named Randy is he?

[cougarcat]

No..............Only Randy (local) I know has the group towboat (Malibu Skier)
CC

[mbrown2]

No..............Only Randy (local) I know has the group towboat (Malibu Skier)
CC
I hear ya...not sure where you are from but I know a Randy with a 31Profile with twin 575's...

[cougarcat]

Atlanta