Foremost Insurance Blows
07-11-2020, 11:56 AM
#42
Platinum Member
Platinum Member
What Im hearing its not so much about the speed ( under 100 ) but the modified HP, Chris is working on my new policy, so we'll see
07-11-2020, 01:17 PM
#44
Platinum Member
Platinum Member
07-11-2020, 02:17 PM
#46
Registered
i am with Wakezone and a couple of days ago received an email from Stacy (Wakezone) stating they were now Partnered with Total Dollar. BTW I a have been with Stacy for years with no problem and no big increases. Hope it stays that way with the Total Dollar partnership.
Padraig
Padraig
07-12-2020, 07:09 AM
#47
Charter Member #40
Charter Member
I guess I was lucky with Foremost. Had Wozencraft/Foremost for 5 years. Simple Liability policy on old Cig and it was $480 per year. Never really changed. However, went to get comprehenive and they wanted like $2400. 1984 38' Cig, 3A's with 572's and some blowers on top. Said the boat ran 70 mph and we had 550 hp at prop per side. I responded yes when they asked if engines were modified. Markel comes in at $880. Said I only needed a $40K policy. So they say I need to get a survey. Like $700. So I ask if I do are they sure they will issue the policy and they say yes, I will also need to complete any recommended repairs by surveyor. Yes they say. So I get the survey, complete some minor issues, surveyor rates boat above average with all favorable comments. Says it worth $72K. Submit paperwork and Markel comes back and says I will also need dyno sheets from recent rebuild. I respond that we did not as it was just a rebuild but I have dyno runs from original build by KE. However, I would be able to get a hp confirmation from KE on recent rebuild which also included dropping boost, milder cam and lowering rpm. They agree. Submit letter. They then say new cost will be $1500. Same $40K policy. I ask why. They say because boat will run over 85 mph because of superchargers. I show them Merc's max speed calculations and they don't care. While the price is not a bad price, it's the way they conduct business. Their speed calculator is completely way off. Wonder what happens if you have a claim? Anyone have Markel? End of the day I went ahead and cut a check and will deal with it next year I guess.
07-12-2020, 08:11 AM
#48
Platinum Member
Platinum Member
I was denied by Markel last year, gave them all the up front accurate information, they said no problem, then 2 weeks later changed there mind and said NO, its pretty clear these companies pick and choose who they do business with.
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jmoore1225 (07-13-2020)
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PartyBarge22 (07-21-2020)
07-13-2020, 06:32 AM
#50
Registered
I guess I was lucky with Foremost. Had Wozencraft/Foremost for 5 years. Simple Liability policy on old Cig and it was $480 per year. Never really changed. However, went to get comprehenive and they wanted like $2400. 1984 38' Cig, 3A's with 572's and some blowers on top. Said the boat ran 70 mph and we had 550 hp at prop per side. I responded yes when they asked if engines were modified. Markel comes in at $880. Said I only needed a $40K policy. So they say I need to get a survey. Like $700. So I ask if I do are they sure they will issue the policy and they say yes, I will also need to complete any recommended repairs by surveyor. Yes they say. So I get the survey, complete some minor issues, surveyor rates boat above average with all favorable comments. Says it worth $72K. Submit paperwork and Markel comes back and says I will also need dyno sheets from recent rebuild. I respond that we did not as it was just a rebuild but I have dyno runs from original build by KE. However, I would be able to get a hp confirmation from KE on recent rebuild which also included dropping boost, milder cam and lowering rpm. They agree. Submit letter. They then say new cost will be $1500. Same $40K policy. I ask why. They say because boat will run over 85 mph because of superchargers. I show them Merc's max speed calculations and they don't care. While the price is not a bad price, it's the way they conduct business. Their speed calculator is completely way off. Wonder what happens if you have a claim? Anyone have Markel? End of the day I went ahead and cut a check and will deal with it next year I guess.
Same exact thing I went thru w/ them. Complete BS. Since they were calling me a liar I told them to fly the underwriter in, It runs what I said, they were insuring me for the original quote. They just know they have you by the balls on these older boats and gouge you for it.
