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  1. #1
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    Insurance on STV's?

    Recently purchased an STV and looking to get insurance on it. Any recommendations for a good company to go with?

  2. #2
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    Whats on it for power, that will probably determine who will touch it from an insurance perspective.

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  4. #3
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    Wozencraft, brokering a Foremost policy is probably your best bet. No one else is routinely underwriting policies on these boats. Safeco seems to have some brokers who can get policies written but it’s a crap shoot.

    aside from that you’re looking at a $4K+/year policy the Lloyds.

    It’s less about the size motor, it’s the fact it’s an air entrapment hull under 26’ long. No one will touch these anymore.
    Last edited by mjw930; 08-29-2020 at 07:35 AM.
    Mark

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  6. #4
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    My STV and Seebold are both insured by Progressive via a local independent agent. He asked if they went over 60mph and I said yes. Asked if I'd ever use either one in an organized competition and I said no.
    Bullet CC w/ 225 Promax
    STV ProComp w/ 225 Promax
    Liberator 25 / twin 300XS
    Merc 280 on deck

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  8. #5
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    Farm bureau insures mine. They "supposedly" don't care about engine size until it goes over 300hp.

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  10. #6
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    Here in Florida you can’t get away with that. Some brokers / agents seem to be able to slide things through underwriting but good luck if you ever have a claim, once an adjuster from the company sees the STV and realizes it’s air entrapment get ready for litigation.
    Mark

  11. #7
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    ...been self insured forever. if you believe an insurance company is going to be forthcoming, you got another thing coming... "pleasure boat/fishing boat" insurance is a bit different.

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  13. #8
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    Quote Originally Posted by FUJIMO View Post
    ...been self insured forever. if you believe an insurance company is going to be forthcoming, you got another thing coming... "pleasure boat/fishing boat" insurance is a bit different.
    I am going to drop my State Farm on the Allison since the agreed value they put on it would not even pay for the engine. If it is stolen or sank [I have had it for 22 years] I will just buy a new one. If I crash it and hurt someone then I will be living under an underpass somewhere once my money ran out....

    "Confidence" is that wonderful feeling you had right before you fully understood your true situation.- Unknown
    I dont know what effect these men will have upon the enemy, but, by God, they terrify me.- Duke of Wellington
    I am not afraid of an Army of lions lead by a sheep; I am afraid of sheep lead by a lion. Alexander the Great
    Whoever said the pen is mightier than the sword obviously never encountered automatic weapons.-Douglas MacArthur

    Allison GSE 300XS

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  15. #9
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    Quote Originally Posted by JR IN JAX View Post
    I am going to drop my State Farm on the Allison since the agreed value they put on it would not even pay for the engine. If it is stolen or sank [I have had it for 22 years] I will just buy a new one. If I crash it and hurt someone then I will be living under an underpass somewhere once my money ran out....
    Ask your agent to increase the value. They'll happily charge you more $ for more insured value. Mine asked me what amount I wanted my boats insured for and when I gave him a number, there was no problem. Re: self insuring, I'm not all that concerned about self insuring the boat, more concerned with liability coverage.
    Bullet CC w/ 225 Promax
    STV ProComp w/ 225 Promax
    Liberator 25 / twin 300XS
    Merc 280 on deck

  16. #10
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    Quote Originally Posted by mjw930 View Post
    Here in Florida you can’t get away with that. Some brokers / agents seem to be able to slide things through underwriting but good luck if you ever have a claim, once an adjuster from the company sees the STV and realizes it’s air entrapment get ready for litigation.
    Correct. And other things that drive insurance through the roof in FL is the year round boating season, high ratio of thefts against the industry average (especially in S FL) and lack of on the water speed limits in many areas.
    I've bought and sold 23 boats in 27 years. I fix them up and then get bored and look for another. It's a hobby.

    Checkmate 24 is my current project


    .

  17. #11
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    Foremost is getting aggressive again on their boat underwriting. I just got a quote back on a new project that I am starting with 450s and I was pleasantly surprised with the quote on an agreed value. Florida is expensive like Trace said 1. theft rate, 2. ocean accessibility, 3. high traffic count, and 4. days of potential use. I learned a lot from Christie at WIA insurance at Lake Ozark and she was very helpful compiling my resume and chasing this upcoming policy down for me. I am able to use my Missouri address Vs. Florida and save enough annually to pay my home owners insurance and taxes on that house. The other thing to remember is that as long as you have a primary policy in effect, you can get an umbrella policy for additional liability coverage and they are very reasonable "everyone thinks you are rich if you have a boat" and these attorneys will ruin your life if someone is injured by you.

    Joe

  18. #12
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    Quote Originally Posted by JPEROG View Post
    Foremost is getting aggressive again on their boat underwriting. I just got a quote back on a new project that I am starting with 450s and I was pleasantly surprised with the quote on an agreed value. Florida is expensive like Trace said 1. theft rate, 2. ocean accessibility, 3. high traffic count, and 4. days of potential use. I learned a lot from Christie at WIA insurance at Lake Ozark and she was very helpful compiling my resume and chasing this upcoming policy down for me. I am able to use my Missouri address Vs. Florida and save enough annually to pay my home owners insurance and taxes on that house. The other thing to remember is that as long as you have a primary policy in effect, you can get an umbrella policy for additional liability coverage and they are very reasonable "everyone thinks you are rich if you have a boat" and these attorneys will ruin your life if someone is injured by you.

    Joe
    I’ve had a Foremost policy on the Talon since I bought it in ‘17 and after going up a couple hundred a year it went down $450 on this years renewal. I paid it the day the email came in before they could change their mind.
    Mark

  19. #13
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    State Farm agreed value policy on mine. Separate values for the boat, trailer and engine.
    Keith-

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