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  1. #1
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    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!

  2. #2
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  3. #3
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    I think your insurance company has to be licensed locally.

  4. #4
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    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

  5. #5
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    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

  6. #6
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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.

  7. #7
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    Quote Originally Posted by derpid View Post
    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!
    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

  8. #8
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    Do you guys have Foremost up there? That is who I use but mine are V hulls.

  9. #9
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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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  11. #10
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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

  12. #11
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    Quote Originally Posted by Hydrogasm View Post
    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
    Do you recall how long ago you took out the policy? Seems like anyone who used to cover fast boats is no longer willing to accept the risk. if you are currently insured they are willing to honor but are not accepting new policies of that nature.

  13. #12
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    So far im down to about 2k a year with a 1500 deductable. not looking like ill be able to do any better unfortunately.

  14. #13
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    Quote Originally Posted by TooStroked View Post
    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.
    I just googled Tres Martin as i never heard of him or his school, interesting. Dude is probably killin' it.

  15. #14
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    i asked about that, kinda pricey and you only recieve a 5% discount.

  16. #15
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    Having issues getting boat insurance

    Derpid
    I have been with the same company since 1991 but the Marine Policy was started in Nov/17 when I bought the current boat.
    Thanks
    Gary

    Quote Originally Posted by derpid View Post
    Do you recall how long ago you took out the policy? Seems like anyone who used to cover fast boats is no longer willing to accept the risk. if you are currently insured they are willing to honor but are not accepting new policies of that nature.

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