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Thread: Insurance on STV's?
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08-29-2020, 12:24 AM #1New Member
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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?
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08-29-2020, 06:02 AM #25000 RPM
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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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DELTA LIVIN 925 thanked for this postDELTA LIVIN 925 liked this post
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08-29-2020, 07:32 AM #3
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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DELTA LIVIN 925 thanked for this postCapt.Insane-o, DELTA LIVIN 925 liked this post
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08-29-2020, 09:57 AM #46000 RPM
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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 - Sold
STV ProComp w/ 225 Promax
STV Procomp with 280
25 Liberator "The Battleship"
Blazer 650 Pro Tour
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DELTA LIVIN 925 thanked for this postDELTA LIVIN 925 liked this post
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08-29-2020, 12:33 PM #55000 RPM
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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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DELTA LIVIN 925 thanked for this postDELTA LIVIN 925 liked this post
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08-29-2020, 10:11 PM #6
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
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08-30-2020, 11:17 AM #7The Historic Photo Master
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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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08-31-2020, 07:11 PM #8
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
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Allison GSE 300XS
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08-31-2020, 08:52 PM #96000 RPM
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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 - Sold
STV ProComp w/ 225 Promax
STV Procomp with 280
25 Liberator "The Battleship"
Blazer 650 Pro Tour
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09-11-2020, 03:01 PM #10\\\/// \\\/// \\\/// \\\/// \\\/// \\\/// \\\/// \\\/// \\\/// \\\/// \\\/// \\\/// \\\/// \\\/// \\\/// \\\/// \\\/// \\\/// \\\///
Checkmate Pulsare 2100 with a 2017 Merc 250 Pro XS
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09-11-2020, 04:42 PM #11Supporting Member
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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
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09-11-2020, 10:25 PM #12
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09-15-2020, 02:47 PM #13
State Farm agreed value policy on mine. Separate values for the boat, trailer and engine.
Keith-
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