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  1. #1
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    Insurance on Hot Boats

    As the title suggests I need some info on insuring a fast boat, any suggestions? My son has a 21 Skater, he has it insured through a company that covers Skaters but I wonder what you Hydrostream guys do, it seems very risky running fast without at least liability coverage. Iím new to performance boats, I came over from the cruising world. Thanks for any help.

  2. #2
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    Performance boat insurance is very expensive.....if you can get it at all. Some run with no insurance. Some company's have a speed that they cap boats at. Others look at the total package. I have used WakeZone, Markel, and Total Dollar Marine, to insure boats that have higher values, and run over 100 mph. If you are in Florida, its even tougher to get a full coverage policy on a go fast boat.
    Many of these companies, have strict driver, and area where the boat is covered. You will need a rider to be covered in another area. Lots use lay up clauses, say you cannot use your boat between Oct. and May. So essentially you are paying for coverage for a year, but using it for 6 months.
    Some just get a big umbrella policy with their insurance carrier in hopes that it will cover any loss. Never tried that.
    Have heard stories that folks just call up their auto or home owners and they underwrite a policy to cover the boat, they say oh yea we can cover that and everything is good. Never was that lucky.
    Last edited by Beak Boater; 01-20-2019 at 09:38 AM.

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  4. #3
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    Search is your friend, lots of lengthy threads discussing insurance here.
    Mark

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  6. #4
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    I must be one of the lucky ones? I have had state farm for 35+yrs and just last summer bought a 1998 mirage with 225 pm 95mph boat.Went in to get insurance told em what it was a 4 seater ski racer no questions asked no pictures.They wrote it up for 15k boat & motor and 1500.00 for the alumn trailer.They sent it in and the underwriters approved it,i really did not think it would go through so full coverage for 278.00 a year gotta love that.
    I may be slow but im ahead of you.

  7. #5
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    So what does full coverage on a boat cover? If sumthin tears up? Loss,stolen, wrecks, just that stuff?

  8. #6
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    all of the above.
    I may be slow but im ahead of you.

  9. #7
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    Quote Originally Posted by mjw930 View Post
    Search is your friend, lots of lengthy threads discussing insurance here.
    Thanks for the tip, I’m new here. Now I found the search function and you are correct, all kinds of info right in front of me.

  10. #8
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    Insurance is not hard to get.Paying for a claim can be a problem.
    As mentioned above,I recommend an umbrella policy to cover any liability the boat policy doesn't.It can be purchased for about 350.00 per year but normally requires the the person to have a home owners policy.
    This is what my insurer requested.Years ago I had a total loss on a new over powered whaler.I had a check with in a week. However,after filing a couple of claims,{RV trailer and auto} they were slow but paid.
    I hope this helps,good luck whatever you do.

  11. #9
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    I didn't they would insure mine cause over powered , 18.5ft rated for 175 and has a "200"
    Will they still insure it?

  12. #10
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    Change the cowl

  13. #11
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    State farm pays out with no depreciation, run over log tear up a 15yr old sporty, estimate 6800 they pay full amount for new one, minus deductible

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  15. #12
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    Quote Originally Posted by racervboat View Post
    I must be one of the lucky ones? I have had state farm for 35+yrs and just last summer bought a 1998 mirage with 225 pm 95mph boat.Went in to get insurance told em what it was a 4 seater ski racer no questions asked no pictures.They wrote it up for 15k boat & motor and 1500.00 for the alumn trailer.They sent it in and the underwriters approved it,i really did not think it would go through so full coverage for 278.00 a year gotta love that.
    Same when I had my STV/Skater/Cougar which I think it's because I'm been with them since 1986. Also could been because they weren't in their database. My stringray and Checkmate popped up as will run over 55 and got surcharged $$$$
    http://www.stvowners.com

    Checkmate 2002 Convincor 270 496 MAG-HO

    2003 Cougar 22MTR w/300xs SOLD
    90 21Skater w/300xs - sold
    98 STV Euroski w/280 - sold


    2006 Trailblazer SS 6.0l 395hp

  16. #13
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    When I was shopping for insurance, I was getting some high prices for just liability. I have a Checkmate trimate with a 140 omc, it is rated at 140 max. For some reason I asked my agent that has policy for my home and lake home property. The boat was added onto the lake property policy, which is added to my home policy. I think the price increase was like $7 and the limit amounts were much higher then anything else I had quoted. Might be something to look into if you have a homeowners policy.

  17. #14
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    Quote Originally Posted by pappa pete View Post
    Change the cowl
    They run serial # if sumthin happens I'm screwed??

  18. #15
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    Quote Originally Posted by Merc 2.5 View Post
    They run serial # if sumthin happens I'm screwed??
    Two numbers I have given when getting boat policy, the VIN on the hull and the serial # of the motor. One of the companies I called said it was going to be more because I have a 1990 motor that is prop shaft rated and a 1978 boat which was rated at crankshaft and I was at that maximum, but with a newer motor so I was over powered. Figure that guy must have been into boats to catch that, as nobody else did and I call everyone when I get insurance quotes. Anyways, boat guy or not, on to the next one I went.

    Also worth noting, in some states if you operate a boat over capacity and somebody is hurt, you could be held criminally liable. Kind of weird, I could modify a block and have same results and nobody would be the wiser. Hang a bigger motor and you can be a criminal.

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