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12-31-2019, 12:40 PM #1
Having issues getting boat insurance
So i bought a 1990 talon 22 couple weeks ago and im still trying to find insurance thats reasonably priced, so far the only company willing to offer me coverage is Ogilvy and they want over 3k a year for 35k coverage.....
I have tried every other company in Canada with no success, and I am not paying 3k a year to insure. I don't have any claims history or accidents with boats, I am being turned down by other companies for the potential top speed of the hull or the fact its a tunnel.
Pretty much out of options and wondering if there are there any US based companies that offer coverage to Canada.
or are there any members on here that sell insurance who can get me covered? im not looking for a fancy policy just basically theft and fire coverage. help!
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12-31-2019, 01:17 PM #2
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12-31-2019, 01:39 PM #3Team Member
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I think your insurance company has to be licensed locally.
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12-31-2019, 02:44 PM #4
I couldn't get anyone to insure my 2018 Talon. I'm 61 and have a clean mvr. Just ran her without
2005 APR FORMULA 2 ROOKIE OF THE YEAR
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12-31-2019, 02:48 PM #5
Cats are expensive to insure no matter who you are or how much experience you have. Fast cats are stupid expensive to insure. Small, fast cats are damn near impossible to insure for a "reasonable" amount of money. Proving you took a Tres Martin course will help though.
1992 Progression 22
Mercury Racing 250R
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12-31-2019, 04:23 PM #65000 RPM
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It looks like you live in Saskatchewan and have a really short boating season, make sure you stress that when shopping for insurance as most quote for a years use. I did that with my STV as I live in Maine and was able to get insurance... it wasn't cheap. It has full coverage for 12 months but only about 6-7 months w/o ice on the lakes.
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01-01-2020, 12:00 PM #76000 RPM
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This is pretty much the situation now in Canada. Other underwriters who formerly covered air entrapment boats have exited the market. There’s one company left that you have accessed via Ogilvy & Ogilvy.
You might try World Wide Marine Underwriters in Grand Rapids Michigan for just a fire and theft policy. They have experience with air entrapment boats. You might consider an umbrella liability policy for the P&I aspect.
Matt
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01-01-2020, 06:17 PM #8
Do you guys have Foremost up there? That is who I use but mine are V hulls.
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01-01-2020, 08:55 PM #96000 RPM
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Having issues getting boat insurance
derpid
Talk to your insurance broker and have them check out Intact Insurance. They have a Marine Division. I have a policy with them that covers my Cougar 22MTR with twin 300Xs and it's trailer for $46,000 plus my Malibu Response SS for $22,000 and it's trailer. It has $2,000,000 Liability, fire, theft and loss of use coverages. The total policy was $1,238/year. I hope this helps.
Thanks
Gary
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01-01-2020, 09:04 PM #10Team Member
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Gary, thats about the same as I pay for a J Craft and an SS2000. I will have to look at Intact in the spring when my insurance comes up for renewal. Thanks
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01-08-2020, 05:02 PM #11
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01-08-2020, 05:05 PM #12
So far im down to about 2k a year with a 1500 deductable. not looking like ill be able to do any better unfortunately.
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01-08-2020, 07:52 PM #135000 RPM
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01-08-2020, 09:39 PM #14
i asked about that, kinda pricey and you only recieve a 5% discount.
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01-08-2020, 10:16 PM #156000 RPM
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