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  1. #16
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    Farmers is accepting the new DW28 (3 so far) and the application shows 115 mph. He ask if I knew how fast it was and I told him that I know it will go 115. $2700 a year with a 160K value and 500K lia. Lloyds of London will do a blanket lia. policy for an additional 1M for $900 a year.

    If you have made a boating claim "of any kind" within the last three years, don't plan on being accepted. This info. came to me from a friend that got it first hand from a foremost exec.

    Joe
    Last edited by JPEROG; 12-11-2017 at 08:40 PM.

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  3. #17
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    Awesome....thanks again Mark

  4. #18
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    Thanks Joe
    I only run 75
    I would be happy to get a liability only policy at this point. I will look into Farmers

  5. #19
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    Quote Originally Posted by JPEROG View Post
    Farmers is accepting the new DW28 (3 so far) and the application shows 115 mph. He ask if I knew how fast it was and I told him that I know it will go 115. $2700 a year with a 160K value and 500K lia. Lloyds of London will do a blanket lia. policy for an additional 1M for $900 a year.

    If you have made a boating claim "of any kind" within the last three years, don't plan on being accepted. This info. came to me from a friend that got it first hand from a foremost exec.

    Joe
    Last year when I was shopping there were a number of companies willing to write policies on boats over 26’. It’s not just the speed, it’s the size and location. Here is the list of what was considered unacceptable in Florida by State Farm, Allstate, Progressive, Markel and Farmers for boats under 26’, all confirmed by calls to multiple agents representing these companies.

    Speed exceeding 75 mph for “runabout”
    Speed exceeding 90 mph for a “bass boat”
    All air entrapment boats
    Miami/Dade county

    With Foremost and Safeco the policies can only be written by certain agencies considered Marine Specialists. I simultaneously had 3 Foremost agents quoting me, 2 received declines from underwriting, the third was able to get it approved due to their status with Foremost and I know there wasn’t any misrepresentation, the declaration page explicitly states high performance, 98 mph max speed.

    Outside of Florida the rules are a bit more lax, but it’s still a crap shoot for sub 26’ fast boats.

    Trust me, it makes little sense but I’m not making this up, I lived it last fall when I was shopping for insurance for my Talon. I also know that underwriting rules change every year so this could have changed. Luckily Foremost did renew me this year so I didn’t have to “shop” for coverage but every fall I know that could change.

    I talked to the 3 largest national boat insurance agents about this and they confirmed everything I discovered as well as pointing out that there are programs for the bigger boats (26’ and above) that do not exist for our smaller boats. It’s all about the numbers, bigger boats mean bigger premiums from buyers with deeper pockets.
    Last edited by mjw930; 12-12-2017 at 04:16 PM.
    Mark

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  7. #20
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    I ran into a couple company's that would not insure the boat unless it's valued at 300,000+
    Yep....not in that category.
    I trust you.....sounds a little crazy, but, what I've already been thru...i believe every bit of it.
    I'm gonna keep up the good fight
    Bart

  8. #21
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    23 Eliminator ins
    Mark....you are the Man !
    Thanks for the lead...
    I believe I landed Safeco with some mighty awesome rates. In fact I pay the same for my pontoon boat
    Liability only:
    300,000
    Med 5,000
    Uninsured 300,000
    Total $100.00 / yr
    Coverage, Liability / Boat
    Liability 300,000
    Med 5,000
    Uninsured 300,000
    Damage hull / motors 16,000/ 500
    Damage trailer 3,000/ 500
    Unattached eq 1,600/ 500
    Personal 750/ 250
    Emergency asst 500
    Total policy $317.00 / yr
    The agent also thinks I can get by with boat value by purchase receipt or comparables. Possibility I will need a marine aporaisal...no big deal there, the boat is in excecomparable.
    I was shocked how easy quick they got back with 2 different policys....matter of hrs.

    Bart

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  10. #22
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    Bart,

    That’s great to hear and a great rate too. The quote I got from Safeco was a few hundred less than Foremost but I didn’t want to cancel based on a quote since it was so hard to find the first policy. I will make sure to get a quote next fall from Safeco before I renew.
    Mark

  11. #23
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    Jun 2006
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    Silverton section of Toms River, NJ/Stuart, Florida
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    Is Safeco part of Liberty Mutual? Our AAA up here has an agent there. I asked for a liability quote for my Superboat. Lets see what happens. Thanks for the heads up.

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  13. #24
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    Yes,
    They are a part of Liberty Mutual
    Bart

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  15. #25
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    ......reasonable rates is an understatement.
    I was willing to pay a $1,000+, but, I'm happy with $300+
    I keep thinking they are missing something...
    But I gave honest info. However, they never asked how much experience with a tunnel hull boat which was the deciding factor with a couple other c ompanys. I guess a year is not enough.
    Bart

  16. #26
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    what speed did they quote you for?

  17. #27
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    I believe I gave them 70. Which for these stock v6's is pretty accurate....i told him on occasion it will be faster, He didn't seem to concerned with top end speed

  18. #28
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    He wanted boat year, length, model, eng hsp
    ., top speed, value & boating experience. Never really asked hull type or waterways used.
    However...underwriting researched the boat year make and model....came back with 2 impressive policys

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  20. #29
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    Quote Originally Posted by mjw930 View Post
    What you are finding is most of those policies with State Farm, Allstate or other national volume companies were misrepresented by either the owner or agent and aren't worth the paper they are written on.
    I have State Farm on a 96 Liberator21 with a 300xs for about $400/yr - I didn't misrepresent the boat / power and, as far as I know, my agent didn't either. And the policy clearly states year, model of hull and engine.

  21. #30
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    Formost insurance will insure cats. I told them my boat will run 100 and they said no big deal.

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