lake lice insurance?

[jimsplace]

How do insurance companies justify insuring lake lice? Some are capable of exceeding the speeds that boats are allowed and are far more likely to be involved in an accident than performance boats.
Performance boats with ot exhaust are generally pretty selective with where we run the boats hard. As a general rule, most of us do take pretty good care of our boats. We also do not let just anyone drive it.
Lake lice on the other hand, run them hard everywhere, and most take it to someone else, when something happens to it, to be fixed.

[Wozencraft]

How do insurance companies justify insuring lake lice? Some are capable of exceeding the speeds that boats are allowed and are far more likely to be involved in an accident than performance boats.
Performance boats with ot exhaust are generally pretty selective with where we run the boats hard. As a general rule, most of us do take pretty good care of our boats. We also do not let just anyone drive it.
Lake lice on the other hand, run them hard everywhere, and most take it to someone else, when something happens to it, to be fixed.
Your question is very valid. Incidentally, it took me a while to figure out what Lake Lice were. I presume you are referring to PWC's.
First off, my experience has found most insurance companies no longer insure the 2-seater high performance PWC due to being too fast and dangerous. Of the companies that still write these PWC, they are very selective of who they insure.
Second, I have found most PWC do not have insurance. This brings on another set of risk to us boaters (who do have insurance). PWC can be fun, exciting, economical & easy to get around the lakes and rivers. However, as most of us know PWC operators can be VERY dangerous. They often turn suddenly without looking first, operate in & out of the shorelines and coves without looking, and often try to spray others for fun-getting dangerously close to other PWC, boats, swimmers, etc.
We have been discussing this topic here for a while, on why won't insurance companies insure my boat w/ O/T headers. I am going to get in touch with some of my underwriter friends from a variety of insurance companies that specialize in boat insurance, to answer this age-old question. Stay tuned, I will most likely start a new thread in the Boat Insurance section once I get feedback from my underwriter contacts.
Devin Wozencraft

[Outnumbered]

What does the typical $5,000 Sea Doo 3 seater cost to insure? I was thinking of getting a few to keep at our place up at Mead. I only pay $300 a year for $500k coverage on the Cobalt that is insured for $33k replacement cost/value.
Thanks

[Wozencraft]

What does the typical $5,000 Sea Doo 3 seater cost to insure? I was thinking of getting a few to keep at our place up at Mead. I only pay $300 a year for $500k coverage on the Cobalt that is insured for $33k replacement cost/value.
Thanks
I'd be happy to rate out your PWC quickly. Would you have 2-3 minutes to answer a few questions for me by phone? I'd be happy to call you if you P.M. me your number.
I found it funny that you chose this thread to inquire about PWC insurance. :)
I look forward...thank you.
Devin Wozencraft
714-263-2626 - 928-680-6801

[jimsplace]

YES - PWC is the other term some call them.
In regards to the insurance for boats with OT exhaust, many of these boats are 15 years old or older. It would seem that would tell someone something. If the boats have been around that long, someone must be taking care of them. I would be more concerned about the person that just bought a new boat and this is their FIRST ONE.
Most of the OT boats are owned by "older individuals" (relative term), but we are. One reason we have them, is because we can afford them (again relative term). Almost everyone of these boats are paid for, because no one will finance them.
Most of these boats are truly "trailer Queens", they get run a little, but are actually on trailers most of the time. My wife accuses me of wanting to work on it more than drive it. There may even be some truth in that. It is my older guy's "TOY".
There are many similarities with classic cars, they get polished, they get shown, and they get played with a little. Some people have street "TOYS" and some have "WATER TOYS".
We would like some protection from their being stolen or damaged in some other way along with liability protection. I can honestly say, I do not have any friends or myself that would have needed to make a claim. It would be comforting to have some protection from a total loss.

[Outnumbered]

I'd be happy to rate out your PWC quickly. Would you have 2-3 minutes to answer a few questions for me by phone? I'd be happy to call you if you P.M. me your number.
I found it funny that you chose this thread to inquire about PWC insurance. :)
I look forward...thank you.
Devin Wozencraft
714-263-2626 - 928-680-6801
I don't have any yet. Just wondered what the ball-park is. Would it be more or less than $300 a year on average?

[Wozencraft]

I don't have any yet. Just wondered what the ball-park is. Would it be more or less than $300 a year on average?
It depends on the amount of coverage you have, the value of the unit(s), the driving record of the operator(s), etc. However, to give you an idea we just insured a '96 Sea Doo last Friday for Liability & Uninsured Watercraft coverage, the premium was $216 /yr.
If you are thinking of purchasing a specific make/model, give us a call and we can quickly give you a premium indication. This may help during your search.
Best of luck.
Devin Wozencraft
714-263-2626